Paytm Payments Bank has partnered with National Payments Corporation of India (NPCI) to launch RuPay-powered digital debit card.
Features of The Card
- Customers will be now able to transact at all merchants who accept payments via debit and credit cards.
- Users who have opened their account with the payment bank will be issued the digital debit card.
- The The card comes with a free insurance cover up to Rs 2 lakh in the case of death or permanent total disability.
- Payment bank will not charge on online transactions such as IMPS, NEFT and UPI.
- For non-metro locations, one gets five free transactions every month and post that, one has to pay Rs 20 on every withdrawal.
- For metro areas, one will get three free transactions and after that one has to pay Rs 20 as well.
Paytm Payments Bank
- Paytm Payments Bank was launched in May 2017.
- It offers annual interest of 4 percent for all saving accounts.
- The service is available through invite-only basis, and one has to log onto Paytm Payments Bank website to request an invite.
- The brand is offering a free virtual Rupay debit card, however, if one requires a physical debit card then one has to pay Rs 100 plus delivery charges.
- Paytm Payments Bank is offering free online passbook and email statements. However, one need to pay Rs 50 plus delivery charges for physical statements.
