Switch from Paytm Payments Bank account to continue trading

This is to inform you that RBI has placed certain restrictions on Paytm Payments Bank Ltd. (PPBL), due to which, post 15-Mar-2024, Paytm Payments Bank account holders will not be able to add or withdraw funds from their account.

Users that have Paytm Payments Bank account as their Primary account should therefore switch to another bank for uninterrupted trading at Angel One.

How to switch to an alternate bank account?

Here's a quick way to do this - Log into the Angel One App -> Go to accounts page -> Click on Profile Icon & then add a bank account

For a detailed step by step process, Click Here

What happens if you don’t switch?

  • You won't be able to add funds to your trading account from your Paytm Payments Bank.
  • Withdrawals to Paytm Payments Bank will not be possible due to restrictions.
  • The SEBI-mandated quarterly settlement of unused funds might fail, potentially causing inconvenience.
  • IPO applications and automated SIPs linked to Paytm Payments Bank are expected to fail.

It is highly recommended that you switch to an alternate bank account immediately to avoid any inconvenience or disruption to your trading activities.

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