Once a website and app for recharge of mobile phones, PayTM has grown up to reach a level where they have their own bank, a legit approved bank for people to save their money in, and now, there is a debit card that is a physical card people can use for their purchases and fund transfers. That’s right, PayTM has the RuPay Platinum debit card and it comes as a free of charge card with the PayTM Payments Bank account.
It is a digital card but the recent few social posts from users have actually shown a physical debit card from PayTM that they have received and this could roll to a larger scale anytime soon. Let’s talk more about the Debit & ATM card, and the digital debit card that you would get initially when you open a bank account with PayTM Payments Bank.
As soon as you open a bank account on PayTM Payments Bank, you are given a digital debit card that you can use on all the online platforms where debit card is supported, but you would be transacting using the card details that are provided. The Debit and ATM card is a physical card just like any debit card you get from a standard private or government bank, and you can use it at ATM to withdraw money as well as use at the local stores to make payments.
When you apply to get a physical debit card from PayTM, you will get a card to your address with the same debit card number and the CVV information that you were given with the digital card. It is the same card, only physical so that you can use it at ATMs and stores.
How to apply for PayTM Debit card?
Follow these steps that are given by PayTM to order the physical debit card if you already have the bank account and digital debit card to use and want the ATM card.
- Launch your Paytm App
- Tap on the ‘Bank’ icon at the bottom right corner of your screen
- Scroll down and choose the option ‘Digital Debit Card’
- Choose the option ‘Request ATM Card’
- Select your delivery address and click on ‘Proceed to Pay’
- Your order will be placed once the payment is successful.
- You will be able to track the delivery status of your card through your app
Features of PayTM RuPay Platinum Debit Card
Domestic Airport Lounge Access – This is one of the big advantages of the PayTM debit card. You will get 2 complimentary domestic airport lounge visits per calendar quarter. This is possible because of the RuPay partnership and RuPay is making the lounge access possible at Chennai, Kolkata, Hyderabad, Bangalore, Delhi, Kochi, Mumbai, Trivandrum, Udaipur, Dehradun, Visakhapatnam, Patna, Chandigarh, Nagpur, Vijayawada, and Vadodara airports.
Free insurance – This is a free insurance cover of up to Rs. 2 lac in the incident of death or permanent total disability.
RuPay conceirge service – The RuPay card holders can get the complimentary access to concierge services.
Accept Money via QR code on Card – The PayTM debit card also has a QR code that you can show and accept payments easily with the QR code.
PayTM Debit and ATM Card Cost and Limits
The digital debit card that you first get is free of charge, but when you ask for the physical debit card, it costs Rs. 125 as issuance charge. There is also an annual subscription fee of Rs. 100 charged on yearly basis from the date of activation of the Debit & ATM card that is linked to your account.
The daily withdrawal limit from the debit card is Rs. 50000.
Charges of PayTM Debit Card
Metro Locations – Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad
- 3 free transactions every month; post that
- Cash withdrawal: ₹ 20/txn
- Mini statement or Balance check or PIN change: ₹ 8/txn
Non-metro Locations – Other than the 6 cities mentioned above
- 5 free every month; post that
- Cash withdrawal: ₹ 20/txn
- Mini statement, Balance check, PIN change: ₹ 8/txn
While you might wonder what is the difference between the PayTM RuPay Debit card and the other bank’s debit cards, one major difference is the domestic lounge access that you don’t get on the regular cards from other banks, unless you are opting for any of the special cards that are costing you some high annual fees.