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Paytm Payments Bank now open to all mobile app users

The Paytm Payments bank finally opened its operations to everyone, after its initial launch in May. Initially, the feature was launched in Beta only and was available via an invite-only system. With the new update (6.0.0) available on both Android and iOS, the banking service is only available through the app. As of now, it cannot be accessed through the browser, nor are there any physical branches of the bank. The bank account has no minimum balance requirements, though the maximum amount has been capped at ₹1 lakh, as per RBI guidelines. Paytm claims that they are the first bank to not charge any additional amount for online transactions, along with a free and virtual RuPay debit card. Other electronic transactions, such as for UPI, will not be charged either. Other services, such as physical cards, checkbooks, and passbooks, will be charged…

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