Announces the launch of current account services without minimum balance - Paytm Payments Bank Blog:- www.deekpay.com

We are pleased to announce the launch of the Zero Balance Current Account service, the key features of which are set out below:

- Time deposit balances in individual current accounts earn interest

- No minimum balance required

- Transactions (NEFT/IMPS/RTGS) no hidden fees

- Real-time updating of the electronic ledger

- Integrated Bill Payment Services

- Easy management of payments and transfers through the Internet Banking Panel

- Batch payment mechanism for payroll or reimbursement, etc.

We aim to serve over 40 million small and medium sized Indian businesses that do not have access to free current accounts. However, our current account service has been designed keeping in mind the usage habits and needs of small merchants/merchants as well as large businesses and corporates.

Benefits for small and medium-sized businesses:

This is a zero-balance account and will benefit businesses that are unable to meet the minimum balance requirement for current accounts and have to pay the associated fees. Account holders will also enjoy free banking services and transactions and tracking through a highly secure web-based banking panel.

They can make unlimited deposits without paying any fees. This feature is very useful for shop owners who have a high daily cash income. In addition, there is no limit to the number of times an account can be traded on the same day.

Account holders with a balance of more than Rs 10,000 for the day will be automatically transferred to a current account in a co-operative bank and they can redeem the amount held in the co-operative bank at any time, instantly.

Business Benefits:

With an online banking panel, businesses can easily execute various transactions without worrying about tracking details and security. Businesses can customise the approval matrix according to their business needs. They can initiate bulk payments, transfer salaries, reimbursements or other payments to employee bank accounts.

Below is a snapshot of the Cyberbanking panel:

The process of opening a current account:

The process of opening a current account with us is very simple and here are the steps involved:

- The applicant provides us with a mobile phone number, which is verified through an SMS verification code (OTP), and fills in a form to provide the details of the business

- Full identity verification (KYC) to be completed by all authorised signatories and beneficial owners of the company

- Accounts can be opened once the documents have been verified

Watch the video below for more information:

Now that you have learnt about the benefits of Paytm Payments Bank current account, make sure you open an account today.

Click here to open a current account

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