Do not use Paytm payment bank account for settlement

Don’t use Paytm payment bank account for settlement

Purpose of payment bank is to receive payment in digital form. Payment banks can accept deposits restricted to Rs. 1 lakh per customer, this one is the disadvantage over using  Paytm Payment Bank for settlement.

What happens when settlement transaction is done in the Paytm Payment Bank.

We have tried many times to settle trade/AePS balance in Paytm Payment Bank and we always got same error. If you make a settlement transaction with Paytm Payment Bank, then your transaction will be in pending status due to “limit exceeds error“.

Therefore, we always recommend our retailers to do settlement transactions in any banks other than Payment banks.Additional reading : How to add new bank account to Relipay App/Portal?[vc_single_image image=”23243″ img_size=”full” alignment=”center”]

Nandeshwar Katenga

The author is a Computer Engineer and has been working in the field of AePS (Aadhaar Enabled Payment System) since 2016, in roles such as retailer, distributor, and super distributor. They also enjoy writing blogs related to technical, marketing, programming, and more. You can contact them at [email protected] and WhatsApp.

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