Finally Paytm Bank — Now in your pocket

Out of all the online wallets, Paytm is ruling the domain like a boss. Owned by One97 Communications, this digital payment platform has made cash transfer a seamless process. Apart from that, you can even use this wallet to pay for several goods and services without utilizing the cash.

Till now, along with being an e-commerce platform, Paytm was offering distinct services like recharges, ticket bookings, cab rides, etc. However, the new update of this application is bringing Paytm bank for the customers. That’s right!

You can now open a Paytm bank account with few simple steps and can use the services without any hassles.

As of now, this update is available for the Beta testers and will be available to the public in a short while.

To try this update, follow these simple steps and you will have your own Paytm bank account in few minutes.

Step 1 —

Open Play store in your Smartphone and visit Paytm application. Once you scroll down, you will come across “Beta Testing.” Once there, you need to click on “I’m in.” It will take approximately 10 minutes to be a Beta Tester. You will receive a notification once the process is complete.

Become beta tester of paytm

Step 2 —

After that, you will get an Update for the app in the play store. Click on Update & Yayyy!! You are a beta tester now.

Beta test of paytm

Step 3 —

Once you have updated it, go to the application and you will see “Here is your new Paytm Payments Bank” on the Home screen. You need to click on the second icon below that, which is “Bank Account.”

Paytm Bank account

Step 4 —

The below-shown screen will pop up and you have to click on the “Proceed” button.

Click the Proceed button

Step 5 —

Once that is done, you will be asked whether you want to add the nominee or not. As per your preference, you can choose any option and click proceed.

Add a nominee

NOTE : If your KYC is done, then you don’t need to do the KYC once again. Your account will get activated in 24 to 72 hours depending upon Paytm procedure.

Step 6 —

If you have selected the Add nominee, a screen will pop up where you would have to add all the details of your nominee. If you didn’t add any nominee, it will directly take you to the next step.

Fill the form

Step 7 —

The next step includes adding your address, Aadhar card number, and name as mentioned on the Aadhar card. After filling up these details, you can “Request an Appointment” by the agent, in which a person from Paytm will visit you to complete the verification.

Aadhar card number — KYC

Step 8 —

In the end, after submitting the request, a Paytm representative will contact you within 24–72 hours. Once KYC is done, your paytm bank will be active.

Verification for aadhar card

These are the 8 simple steps through which you can open up a Paytm bank account. No need to visit your bank time and again. Add your money in the Paytm bank account and earn interest rate easily.