Money added to Paytm using credit card now goes to Paytm Gift Vouchers instead of Paytm Wallet (Rolled back?)

[Sushubh]

Not sure when this started happening. But this money could not be transferred to another Paytm user.
Now I can understand that this money should go to gift vouchers section for the person receiving it.
But I should be able to do whatever I want to do with it right?

Anyhow. Why would I use Paytm if I would need to use my bank account for adding funds to it? I would just use UPI.
I hope WhatsApp fucks up Paytm so bad that they die a rotten death.

 

[Sushubh]

i guess i did not notice this till now was because i was only adding small amounts that were used up at retail stores. today i added 500 bucks. was trying to add funds to dad's Paytm account so that he could use uber on his phone. uber has still not rolled out upi on all accounts. now i am stuck with these funds. and i had to book his uber using my phone.

 

[Sushubh]

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the nasty thing is that they do not even inform you that using credit card to add funds while trying to transfer funds to a contact would fail. it does. and Paytm gets to keep the money. and you are locked out from getting that money back.

 

[geek]

Vijay Shekhar Sharma should put his own house in order before criticizing others ! FAIL attempt at 'championing net neutrality' ! #PaytmSucks

 

[Jiharsh]

Yes today i even noticed that after adding money from credit card they add it to gv but i paid to merchant using that money and got free from it. I would never be adding money in Paytm from now on.

 

[Sushubh]

A warning has been added. But the message is too long and most people are probably not even reading it. Even I am not sure if it was there last night. I could have just ignored it. Logically they should show this message in a popup when a user starts to pay using credit card. Right now, it is placed at the top of the mode of payment selection screen.

 

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[manu1991]

they were bound to do it. I was wondering when. It was a nice way of getting an almost interest free loan, just transfer x amount from credit card to Paytm, then send it to bank account and then withdraw it using ATM. charges would be 0.5% (not sure? how much does paytm charge for bank transfer?) as opposed to directly withdrawing from credit card where you'll need to pay ~3-3.5% interest per month.

 

[Sushubh]

it was 3% at one point of time when Vijay Shekhar kept on cribbing about high charges they had to pay for credit card based money addition.

the thing here is that Paytm could very well allow paytm gift voucher funds to transfer from one user to another. keep the money on their platform. disable transfer of this money to bank account. but let users transfer it to one another to make retail purchases.

 

[KuntalDas]

Extremely ruthless and unprofessional is how I am going to describe my experience of adding the money to my Paytm account 2 days ago. Post the demonitization era, Paytm was very helpful to manage the shortage of liquid cash and making payments on the fly to most of the vendors and kiosks - was happy to use Paytm, though, offlate the vendors were gradually inclined back to the olds day where they would prefer cash over any other form.

2 days ago, when I added money to the wallet using Paytm app, the money got added to the paytm gift voucher. This happened without any prompt or alert. I was completed unaware that the money was not going to the wallet. In the process, I repeated the process 3-4 times, everytime money was getting added to the gift voucher. If Paytm wanted to do this, they could have done this with proper notification and alerts built in the process. However, Paytm chose to take their Customer for a ride. This is something which bothers me and I am not able to understand the rationale behind this. Hope Paytm bosses takes a note of hundreds (or perhaps thousands) of affected Customers like me and come up with a statement explaining why basics alerts were not in place and how they can stop other Customers from going through this inconvenience. This experience with Paytm will definitely make a change in the way I use Paytm going forward.

 

[KIRTIKA]

m also facing same i add 3000 in morning know what can i do

 

[SVK]

Is it happening with amount above Rs 500 or for any amount?
I normally add Rs 100 or Rs 200 occasionally. Never added huge amount to Wallet.

 

[Sushubh]

Any amount.

 

[dextermorgan]

they were bound to do it. I was wondering when. It was a nice way of getting an almost interest free loan, just transfer x amount from credit card to Paytm, then send it to bank account and then withdraw it using ATM. charges would be 0.5% (not sure? how much does paytm charge for bank transfer?) as opposed to directly withdrawing from credit card where you'll need to pay ~3-3.5% interest per month.

yup. surprised it took them this long.

just for the record, all money added by debit card isn't affected by this. only credit cards

 

[SVK]

When I select Add Money, I can now see 2 tabs - Add Money to Wallet and Add Money to Gift Voucher.
So if select Wallet and try to pay by Credit card, still money would go to GV?
I dont want to give it a try as I have some balance in Wallet 😀

 

[Sushubh]

yes. they have added a small message at the top of the payment screen. unless of course they have hidden the cc option while trying to add money to wallet.