Decoding Paytm's Mar 15 Changes: What Stays, What Goes & Alternatives

Explore Paytm's March 15 changes. Some services like withdrawals, cashbacks, and automated payments persist, while others cease. Users advised on smooth transitions and securing UPI transactions. Read on for all the details.

Swati Dayal
New Update

TICE Creative Image

With March 15 spproaching, there is curiosity amongst the Paytm users regarding which of the services they use would go on like business as usual and which ones would be affected due to Reserve Bank of India's (RBI's) restrictions.

The RBI had recently imposed significant business limitations on Paytm Payments Bank Ltd (PPBL), prompting a closer look at the operational changes set to take effect from March 15, 2024. 

The automated bill payments or subscription services using Paytm will remain operational. Like Electricity bill payments, OTT Subscriptions, EMI Payments, Wallet transactions, Cashbacks, FASTag payments and more,

In this feature explainer, we break down the services that Paytm users can still access post-deadline and explore alternative solutions for a seamless transition.

Services You Can Still Avail:

Withdrawals and Transfers:

  • Users can withdraw or transfer funds from their Paytm Payments Bank accounts up to the available balance.
  • Debit card transactions remain functional up to the available amount.

Monthly OTT Subscriptions:

  • Automated payments through UPI for Over-The-Top (OTT) subscriptions will continue until further notice.
  • Withdrawal/debit mandates like NACH will execute as long as there is a balance.

EMI Payments:

  • Auto debit mandates for loan EMIs will proceed until the account balance depletes.
  • Users are advised to set up alternative arrangements with another bank for EMI payments.

Paytm Wallet:

  • Wallet funds can be used, withdrawn, or transferred to another wallet or bank account.
  • Minimum KYC wallets limited to merchant payments.


  • Refunds and cashbacks will still be credited to Paytm Payments Bank wallets.
  • Closing Wallet and Balance Transfer:
  • Users can close their wallets and transfer the balance to an account with another bank.
  • Refund options are available for Minimum KYC Wallets.

FASTag Usage:

  • Existing FASTags can be used for toll payments up to the available balance.
  • However, topping up the FASTag wallet will not be possible after the deadline.
  • Procuring a new FASTag from another bank is advised post-deadline.

UPI/IMPS Withdrawals:

  • Users can withdraw money from Paytm Payments Bank accounts through UPI/IMPS up to the available balance.

Refunds and Cashbacks

  • Even after the enforcement of the new restrictions, users can still get refunds, cashbacks, and other credits such as sweep-in transactions from partnering banks or interest payments into their Paytm Payments Bank accounts.

Services You Can No Longer Avail:

Wallet Top-ups and Transfers:

  • No top-ups or transfers will be allowed into the Paytm wallet after March 15, 2024.

Receiving Money into Wallet:

  • Users cannot receive money into their Paytm wallet after the specified deadline.

Deposits into Paytm Payments Bank Account:

  • Depositing money into Paytm Payments Bank accounts will be restricted post-deadline.

Salary Credits:

  • No salary credits will be accepted in Paytm Payments Bank accounts after March 15, 2024.

Subsidies and Direct Benefit Transfers:

  • Credits related to subsidies or direct benefit transfers are no longer accepted after the deadline.

FASTag Recharge:

  • Recharging or topping up FASTags issued by Paytm Payments Bank will not be possible.

Balance Transfer in FASTag:

  • The credit balance transfer feature is unavailable for FASTags; users must close the old tag and request a refund.

UPI/IMPS Transfers into Paytm Payments Bank Account:

  • Transferring money into Paytm Payments Bank accounts via UPI/IMPS will be restricted after March 15, 2024.

What Next For Customers?

Paytm UPI users should proactively secure their transactions:

  • Switch UPI links: Connect your UPI handle to another bank account.
  • Update automatic payments: Ensure uninterrupted services by linking recurring payments to a new UPI handle from a different bank.

As the RBI's restrictions on Paytm Payments Bank come into effect, users are exploring alternative banking solutions to make necessary adjustments before the March 15 deadline to avoid any inconvenience or disruption in financial transactions.

Join Our Thriving Entrepreneurial Community



Follow TICE News on Social Media and create a strong community of Talent, Ideas, Capital, and Entrepreneurship. YouTube  | Linkedin | X (Twittrer) | Facebook | News Letters