Paytm Payments Bank Goes Live For Public With the Paytm Beta 6.0 Version

Earlier this year, digital payment major, Paytm launched its Payments Bank with features at par with a traditional bank in the country. Paytm, in May 2017, said that the Payments Bank will be live for customers later this year. All these days, Paytm took interest from customers who’re looking for a saving account in its Payments Bank.

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However, the Paytm Payments Bank is now live for the customers across India. Although, the service has been made live only in the Paytm Beta app. Yes, you heard it right. Paytm users who want to open a savings account in the Paytm Payments Bank should download the beta version of the Paytm app of version 6.0.

Also, do make a note that a user can open a savings account in Paytm Payments Bank only if he’s a verified user by Paytm. The user must have verified his Aadhaar card and PAN card before opening a savings account. If your account is not KYC verified, then the Payments Bank won’t show up in the application.

I have downloaded the application (Paytm beta v6.0) and am already a KYC verified user of Paytm. So, the application successfully allowed me to open a savings account without any hassle.

So, right after installing the Paytm beta v6.0 application, log in with your credentials, and head over to the profile section. In the profile section, you can clearly see the My Savings Account menu. Just hit that and follow the steps.

After going through all the steps, your Paytm Payments Bank savings account will be successfully created, and you will be assigned a virtual Paytm Payments Bank RUPAY card. Having said that, the savings account number is your mobile number.

In the Payments Bank section, there are three tabs- summary (which shows the entire paytm summary), Wallet (paytm wallet summary), and Savings Account (which shows all the related info about the Paytm Savings account).