THESE Paytm wallets to be closed on July 20; Is YOURS one of them?

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Your Paytm wallet may shut down

Starting July 20, 2024, all Paytm wallets with zero balance and no transactions for over a year will be closed. Image credits: social media

What did the statement say?

"Please note that all wallets which do not have any transactions for the last 1 year or more and have nil balance, shall be closed w.e.f. July 20th, 2024." Image credits: social media

Why is Paytm closing inactive wallets?

PPBL has decided to streamline its operations with regulatory guidelines. The RBI mandated that Paytm cannot accept new deposits or authorise transactions after March 15, 2024. Image credits: social media

How to prevent wallet from being closed?

If you have received a notification, open the Paytm app and go to the PPBL section. Look for an 'Inactive Wallet' message and follow the prompts to reactivate. Image credits: social media

How to reactivate?

If you find your wallet marked as inactive: Open the Paytm app, Go to Wallet section under PPBL; and look for 'Activate Wallet' option and follow the instructions provided. Image credits: Social media Find Next One