Is your Paytm wallet not accessible? Some Paytm wallets to be closed on July 20, 2024

The Paytm Payment Banks has announced that inactive wallets with zero balance and without transactions for over 1 year will be closed on July 20, 2024.

Inactive Paytm wallets to be closed on July 20, 2024

Reetu | Jun 22, 2024 |

Is your Paytm wallet not accessible? Some Paytm wallets to be closed on July 20, 2024

Is your Paytm wallet not accessible? Some Paytm wallets to be closed on July 20, 2024

The Paytm Payment Banks Limited (PPBL) has announced that inactive wallets with zero balance and without transactions for over 1 year will be closed on July 20, 2024.

As per the paytm website, the wallets who don’t have any transactions in the last 1 year or more and with nil balance to be closed w.e.f. 20th July and impacted users will receive communication and a 30-day notice period before the closure.

RBI in a guideline issued in March this year, prohibits the Paytm Payment Banks to accept new deposits or authorize credit transactions of customers after March 15, 2024. Although, no restriction was imposed on withdrawal from the existing balance beyond March 15, 2024.

The Bank has been urging for several months that their clients close any inactive wallets and accounts that are not being used, or activate the account before the stipulated date; if this is not done, the bank will close the wallet and accounts on the specified dates.

If your account is yet not closed, to prevent the closure of your inactive account, please make any of the below activities using your Paytm Payments Bank, such as:

  • Balance Enquiry
  • Facility of Nomination
  • Net Banking
  • ATM Enquiry

Please note that in the case, you fail to take action that is mentioned above or required within the time limit given then it will result in the closure of your account.

How to Re-activate inactive Paytm Wallet

By doing the following things given below you can re-activate your inactive wallet account:

1. By clicking – Paytm customer care

2. Reactivate your wallet using your Mobile application:

Step 1: On the Paytm app Homepage, Click on the ‘Wallet’ icon on the PPBL Section.

Step 2: ‘Your Wallet is Inactive’ message is showing.

Step 3: Click on ‘Activate Wallet’ and reactivate your wallet in a few simple steps.

Have you reactivated your Paytm Account? Do let us know in comments.

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