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Viral truth: No, you won’t lose your Paytm wallet money after January 15 - blame confusion on badly written statement

A post is being shared on Whats App groups saying that  after January 15 you will not be able to transact with your Paytm wallet money.  The reason: Paytm is converting into bank and so use the money in the wallet or get it credited into your bank account before January 15 or lose the money.   The post is not correct. Bangalore Mirror points out that post misquotes a public notice put out by Paytm.

A post is being shared on Whats App groups saying that  after January 15 you will not be able to transact with your Paytm wallet money.

The reason: Paytm is converting into bank and so use the money in the wallet or get it credited into your bank account before January 15 or lose the money. 

The post is not correct. Bangalore Mirror points out that post misquotes a public notice put out by Paytm.

The official statement notes that: 'If you opt out of the movement from wallet to bank account and don’t transfer, you can transfer the money only after furnishing bank details.”

Blame the confusion on the badly written statement which looks like a Da Vinci code to be broken.

Yes, Paytm is transferring its payments business into a bank, but that does not endanger your money. They want you to follow certain procedures to maintain access to your money.

And they should have explained more clearly  what they mean by this gibberish.

An article in Trak.in may offer more clarity on the subject. 

 

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