How to completely and properly shut down Paytm Wallet account?

[Sushubh]

if you want to check my theory... just call their support number and try to reach a real human being.

 

[handa10]

ok i agree but end user experience for me is same as before
their members expanding to outnumber their staff

why wasting time let yr wallet remain with zero balance

they cant do anything in name of yr acc

 

[Sushubh]

just like i shut down banking accounts and credit cards that i no longer plan to use... i would like to shut down my digital wallet accounts as well. while you can properly shut down your bank accounts, Paytm and other wallet companies tell you that there is no option to delete a digital wallet account. this is well... not an optimal scenario. especially on kyc accounts where your id information is in record with these companies. you might discard your current mobile number in a few years and it might be assigned to someone else and he could be able to resume your account on his phone number as he would be able to login using the OTP route or whatnot. digital wallets are financial services and your name is attached to it. you do not want it to be misused years after you have stopped using it.

 

[handa10]

Ohh very deep thought

Few year back I ditched my idea no
Now what I found is that number is assigned to a girl Hahah as per WhatsApp pic

 

[Neo8]

just like i shut down banking accounts and credit cards that i no longer plan to use... i would like to shut down my digital wallet accounts as well. while you can properly shut down your bank accounts, Paytm and other wallet companies tell you that there is no option to delete a digital wallet account. this is well... not an optimal scenario. especially on kyc accounts where your id information is in record with these companies. you might discard your current mobile number in a few years and it might be assigned to someone else and he could be able to resume your account on his phone number as he would be able to login using the OTP route or whatnot. digital wallets are financial services and your name is attached to it. you do not want it to be misused years after you have stopped using it.

And suddenly you could get an IT notice for not declaring transactions amounting to 1200000 annually( 12 lakhs) as the limit is one lakh per month for a kyc account.

 

[Sushubh]

got a call today. the lady on the phone was again very confusing. this company really needs to understand that using the term Paytm payments bank as the new company causes a lot of confusion. i made a mistake and did not check if it was indeed possible to shut down a wallet account. but once she realized what the confusion was, she also basically confirmed that no account conversion is taking place. only the ownership is changing.

just look at the language of the complaint closure email... paytm is extremely stupid.

i have been using wallet these days only to pay at mother dairy because the guy at the counter never has proper change and he ends up giving me ice cream sticks at tokens.

 

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[SVK]

@Sushubh did your Paytm wallet account got closed?
I got fed up after I had to pay double Toll since my PayTM suddenly started showing KYC pending. Did that at 1 shop by paying Rs 50 still Wallet was not activated, so couldn't recharge Fastag. So I decided to end all PayTM accounts and requested in app. For 8-10 days it was showing in progress. Later I removed Credit card and UPI accounts and simply uninstalled app.
Not sure whether Wallet and other account are closed.

 

[Sushubh]

I am still using Paytm wallet 🤷