Everything you need to know about the new Paytm wallet is as follows:- www.deekpay.com

What is New Paytm Wallet? The new Paytm wallet does not require face-to-face verification (full KYC) and has a lifetime validity. You can add up to ₹10,000 per month.

Who is eligible to use the new Paytm Wallet? You are eligible to use the new Paytm wallet under one of the following conditions:

1) You are a new user of Paytm app and have not registered with Paytm before;

2) You have registered with the Paytm app without face to face verification (full KYC).

If you have completed Face-to-Face Verification (KYC) and already have a wallet with higher limits, then the new Paytm wallet is not for you. To check if you have completed face-to-face verification, visit the profile section of the Paytm app. If there is a blue tick mark next to your name, you have completed face-to-face verification. To view the profile section, go to the Paytm app homepage and click on the icon in the top left corner.

How to open a new Paytm wallet? As per RBI guidelines, you need to provide your name along with the unique identification number of any mandatory document (Passport, Voter's ID, Driving Licence or NREGA Job Card) and verify your mobile number through an OTP sent to your mobile phone.

How much money can I deposit in the new Paytm wallet? At any point of time, you can deposit up to ₹10,000 in the new Paytm wallet. If your wallet balance is ₹10,000, you will not be able to continue adding funds to the wallet unless you use the existing amount. You can add up to ₹1,20,000 to this wallet within a year.

How to add funds to the new Paytm wallet? You can add funds to the new Paytm wallet via debit card, credit card, net banking, UPI and also receive funds from the full KYC wallet. You cannot add funds to this wallet using cash.

Where can I use the new Paytm wallet? You can only use the new Paytm wallet for merchant payments such as recharges, bill payments, online shopping or at your favourite shops that accept Paytm wallet.

Can I transfer money from my brand new Paytm wallet to someone else's wallet or bank account? No. As with the existing minimum KYC wallet, you cannot transfer money from the new Paytm wallet to another person's wallet or bank account.

What if I don't want to migrate to the new Paytm wallet? If you are an existing active wallet user, you can opt out within 7 days of receiving the migration notification from Paytm Payments Bank by:

1) Complete your full KYC;

2) Close your wallet account;

3) Contact Paytm Payments Bank customer care for more information by visiting the 24×7 help section within the Paytm app.