At Paytm, our intention is to serve you with the best. Having said that,it is disheartening to see you go. However, we are here to help you out with any of the concerns faced by you. If you want to close your account, be sure you do not have any balance.
In case, if you have balance:
- Use the balance by transacting on any Paytm service
- Transfer the balance to any other registered Paytm phone number
- Transfer to any bank account
Before you close your account, here are some things you should know:
- Closing your account unlinks your phone number and the associated login ID and password are no longer valid. Effectively, you cannot login to Paytm anymore with these tokens
- Balance transfer from your Paytm account to another Paytm account or bank account is allowed only after KYC as per the RBI guidelines dated October 11, 2017, Para 9, Point no. 9.1 (i) (g) and (k) (see applicable RBI guidelines here: bit.ly/ppiwallet)
- The PMLA (Prevention of Money Laundering Act) guidelines – section 12, point no. 3 & 4 (bit.ly/fiuindia) and PPI guidelines paragraph 6, point no. 6.3 (bit.ly/ppiwallet) requires your transaction logs to be stored for a period of up to 10 years post the deletion of an account. This data is stored on servers located in India and would never be shared with any third-party. Only government agencies mandated under the law to obtain information will have access to this information, through a legally compliant data request.
Follow the below-mentioned steps to raise account closure request:
Step 1: Login to Paytm with your old phone number
Step 2: On the home screen, click on “☰” at the top left corner
Step 3: Go to 24×7 Help
Step 4: Go to ‘Profile Settings’
Step 5: Select ‘I need to close/delete my account’
Step 6: Select ‘I don’t use this Paytm account’
Step 7: Click on ‘Message us’ to raise a request
We will verify the request and close your account.