Paytm has started offering its Physical debit cards to the users. After rolling out the Paytm Bank feature, the company is now rolling out the Paytm debit cards. These cards can be used at ATMs like any other bank cards. As of now, only iPhones users can avail the Paytm debit card and it will soon be available to Android users as well.
Moreover, the Paytm iOS app has received an update which enables users to setup BHIM UPI (one-touch payment) as well. It is to be noted that the BHIM UPI has already been available for the Android users. The BHIM UPI feature enables Paytm users to receive and transfer money directly into their bank account free of cost.
Paytm debit card
The interesting part of the latest iOS update is the Paytm Debit card. Paytm users who have a Paytm Payments bank account already got a virtual debit card which can be used to shop online on multiple e-com websites. Now, they also can use the physical debit card.
So, those who don’t have a Paytm ban account can open it by giving their Aadhaar card details and get the debit card. Also, unlike the virtual card, the Physical debit card comes at a nominal fee of Rs.120. One has to confirm the postal address, where he likes to receive the same.
Also, like other debit cards issued by the banks, this card can also be used in ATMs, Shopping malls, e-commerce websites like a normal card without any restrictions. As this card is a Rupay card so this is valid only in India.
How to Apply for Paytm Debit Card
Open the Paytm app on your iPhone. Now, tap on the ‘Bank’ icon at the bottom right corner of your screen. Now, scroll down and choose the option ‘Debit & ATM Card’. After that, tap on ‘Request ATM Card’.
Now, fill your delivery address and tap on ‘Proceed to Pay’. Complete the payment through mode of your choice and your debit card order will be placed. You can also track the delivery status of your card through your Paytm app.
Charges for the Paytm debit card
First of all, the initial charge to get a Paytm debit card is Rs. 120. In case you lost or damage your card, a duplicate debit card will again cost Rs.120.
Now, coming to the transactions, you can withdraw maximum Rs. 25,000 in a day using the Paytm debit card at an ATM. While the maximum transaction limit per day at a POS (Point of Sale) is Rs. 2,00,000.
Users will get 3 free ATM transactions in metro cities and 6 in non-metro cities. After the free transactions, Rs. 20 per withdrawal and Rs. 5 per balance check or mini statement will be charged. However, balance inquiry and mini statement can be checked free of cost online using the Paytm app.
