Paytm Wallet To Bank Account Transactions Failing, Problem With FASTag Refunds | Paytm News - video Dailymotion

Watch Paytm Wallet To Bank Account Transactions Failing, Problem With FASTag Refunds | Paytm News - NDTV Profit on Dailymotion

Transcript

00:00 Right Smriti, you are absolutely right.

00:01 So we spoke to couple of wallet users and we ourselves tried this experiment.

00:06 Now the RBI guidelines do say that Paytm users or Paytm payments bank users who have that

00:11 wallet because the branding is also now changed, they are allowed to transfer the funds from

00:15 the wallet to another person's bank account.

00:17 But in reality this thing is not happening.

00:20 Now while RBI guidelines say that a person to person transaction in this case can happen,

00:25 only those wallets with a minimum KYC can't happen.

00:28 But let me be very clear, the people we spoke to and the experiment that we tried ourselves

00:32 was on the full KYC wallets and we realized that the wallet to bank account transactions

00:37 are not taking place, just wallet to wallet transactions are taking place.

00:41 In fact for the benefit of our viewers we will also show couple of images on our screen

00:46 showing that when a person or when we are trying to do a transaction from our wallet

00:50 to another person's bank account, the option of sending the money is not coming.

00:57 In fact the only options we are getting is sending the money from the bank account which

01:02 is ideally in violation of the RBI FAQs or the guidelines that were put out on Paytm

01:08 payment bank thing.

01:10 Now the interesting bit here is also that that the problem is not just restricted to

01:14 the Paytm payments bank wallet but it is also being faced by users who are trying to deactivate

01:19 their Fastag accounts with Paytm.

01:21 Now a lot of users took to X and we also checked with a lot of them that whenever they were

01:26 trying to deactivate their Fastag because it needed a minimum balance of 150 bucks,

01:32 they were not able to withdraw or get a refund of that amount.

01:35 While Paytm or Paytm's care has replied to these queries on social media saying that

01:41 the refund should come in 7 to 10 days, some users are complaining that it is been all

01:46 over 20, 25 odd days that they are not able to generate the refund.

01:50 So clearly a lot of mismatch happening there in terms of the FAQs and the guidelines coming

01:54 out and what exactly is happening on ground.

01:57 So let us see what happens on that and Paytm payments bank also spoke to NADV profit on

02:02 this and they reiterated and reassured the same thing that ideally a person should be

02:07 able to transfer the amount from the wallet to a person's bank account, but in reality

02:11 it is not happening.