Paytm Wallet Maintenance Charges

[Sushubh]

Was trying to locate sms charges for getting updates from Paytm. They used to highlight it within app till a while ago when you tried enabling that option for low value transactions. Now they don't and ask you to check their terms and conditions page which of course does not seem to provide the relevant info. It used to be Rs. 10 per quarter. No idea what it is these days. But I did end up locating this paragraph and a few more.

A nominal maintenance fee will be charged to all users each quarter for maintenance of their Paytm Wallet from 1 January 2023. This fee will be waived off for users who have made at least one user-initiated Wallet transaction in the last 2 years. These charges are levied for the recovery of costs for services offered by Paytm Payments Bank for maintenance of user wallets. Full KYC users will be charged a fee of INR 15 per quarter (excl. GST), while all other users will be charged INR 5 per quarter (excl. GST). Amount debited will be equal to the balance in Wallet or the charges applicable, whichever is lower.

Users can get maintenance charges waived off/discounted by either Adding Money to their Paytm Wallet or by making a transaction using Paytm Wallet within 30 days of charges being levied. Alternatively, users will be allowed to close their Wallet account within 30 days of charges being levied to get charges waived off. These charges will be refunded or provided as Cashback to users.

No maintenance charges will be levied for users with zero Wallet balance. If the user’s Wallet balance is less than the charges levied, the entire Wallet balance will be debited and Wallet balance will be zero. Users can reach out to us in the Help & Support section on the Paytm App to get these charges refunded or for any additional clarification required.

Paytm Payments Bank

www.paytmbank.com