As of March 15, 2024, @paytm UPI handles linked to Paytm Payments Bank will no longer be able to process UPI transactions due to restrictions imposed by the Reserve Bank of India (RBI).
Will Paytm UPI not work after March 15?
If you use a @paytm UPI handle linked to Paytm Payments Bank, you will need to take action to continue using UPI after March 15th. However, there’s no need to worry! Paytm has provided clear guidelines on how to switch to another bank while maintaining your existing UPI ID.
Here’s what you need to do:
- Choose a new bank: Paytm recommends transferring your account to one of the 4-5 banks it will be partnering with. This will allow you to keep your existing @paytm UPI handle.
- Initiate the transfer process: Contact Paytm or your chosen new bank for instructions on migrating your account.
- Complete the transfer: Once the transfer is complete, you can continue using your @paytm UPI handle with your new bank.
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Additional Information:
- Paytm Payments Bank will cease operations after March 15, 2024.
- This restriction only applies to @paytm UPI handles linked to Paytm Payments Bank. Other UPI handles will not be affected.
- You can find more information and detailed instructions on the Paytm Payments Bank website or by contacting Paytm’s customer support.
Remember: Take action before March 15th to ensure a smooth transition and continued access to UPI payments.
