Very few people are aware of the Paytm Debit Card, as it was recently launched by Paytm Payments Bank. Consequently, Paytm is now offering this debit card to its users. Following the rollout of its banking features, the company is now introducing the Paytm Debit Card; you can use it at ATMs just like any other bank’s debit card.
Additionally, the Paytm iOS app has received an update that enables users to set up BHIM UPI (one-touch payment). It is worth noting that BHIM UPI is already available for Android users. The BHIM UPI feature on Paytm enables users to receive money directly into their bank accounts and facilitates free fund transfers.
What is Paytm Debit Card?
Previously, Paytm offered a virtual debit card that could be used for online shopping on various e-commerce websites. However, you can now withdraw cash from any ATM, as this physical debit card functions just like a standard ATM card, allowing you to make withdrawals at any ATM.
Paytm users who hold a Paytm Payments Bank account have already received a virtual debit card, which can be used for online shopping on various e-commerce websites. Now, they can also use a physical debit card.
This card costs Rs. 120, which you will need to pay at the time of application. Those who do not have a Paytm Bank account can open one by providing their Aadhaar card details and obtain the debit card.
Furthermore, like other debit cards issued by banks, this card can be used without restriction at ATMs, shopping malls, and e-commerce websites, just like a standard card. Since it is a RuPay card, it is valid only within India.
How to apply for a 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 select the ‘Debit & ATM Card’ option. After that, tap on ‘ATM Card Request’.
Next, you need to tap on ‘Request Card’.
Now, enter your delivery address and tap on ‘Proceed to pay Rs. 120’.
You can also track the delivery status of your card through your Paytm app.
Charges for Paytm Debit Card
First of all, the initial fee to obtain a Paytm Debit ATM card is ₹120. If you lose your card or it gets damaged, the cost for a duplicate debit card will again be ₹120.
As for transactions, you can withdraw a maximum of ₹25,000 per day from an ATM using the Paytm Card, whereas the maximum daily transaction limit at POS (Point of Sale) terminals is ₹2,00,000.
Users will get 3 free ATM transactions in metro cities and 6 in non-metro cities. Beyond the free transactions, a charge of ₹20 per withdrawal and ₹5 per balance check or mini-statement will apply. However, balance inquiries and mini-statements can be checked online for free using the Paytm app.
FAQs
Is the Paytm physical debit card free?
The Paytm Payments Bank account comes with a free digital debit card.
What is the annual fee for the Paytm debit card?
An annual fee of ₹500 is charged for the Paytm First Card at the end of the membership year.
Which is the best debit card?
MasterCard, Visa, and Maestro debit cards are all excellent options and are accepted in almost all countries; however, the Visa debit card is the best among them.
What are the different types of debit cards?
There are six different types of debit cards available in India.
Conclusion
In this article, we explained what the Paytm Physical Debit Card is and how to apply for it. If you have any questions, feel free to ask us via the comment box.
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