Paytm Bank will no longer operate starting from March 1.

[pakhitheboss]

I need an alternative to the bank that can be created via KYC with no minimum balance and easy to pay, load and withdraw anytime. Else, UPI apps are many.

People say mobikwik is good but I always get an error completing KYC.

As I said UPI lite is an option but if you need higher limits then you can try Amazon Pay that I have been using for very long time but only for making online purchases not UPI payments but whenever I tried it worked fine but it has its limitations since its considered as bank not wallet you can add upto 10K per month.

If you need higher limits then banks are the only choice, IDFC, Kotak and many private banks offering instant account opening after submission of KYC but the minimum balance you need to maintain will be 10K.

UPI lite is good but the limit makes it not so useful. Amazon Pay doesn't work with many merchants as the ones near me use gpay or bhim. The banks require me to open a savings account after a year using their digital savings account.

I hope an alternative is found soon else will need to switch back to debit cards

If you have a Jio connection then you can go for their payment bank and UPI service. I have used it in the past for only UPI payment it worked fine at that time not sure how it is working now. I prefer to use my Kotak 300 bank account UPI for my small expenses and like you, I also do not prefer using my main savings account for any transactions. You could either look into Jio or try this account by Kotak it allows zero balance saving accounts the only issue with it is that availing Debit card on that bank account is not free.

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[1715245314]

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[erikalui]

I need an alternative to the bank that can be created via KYC with no minimum balance and easy to pay, load and withdraw anytime. Else, UPI apps are many.

People say mobikwik is good but I always get an error completing KYC.

As I said UPI lite is an option but if you need higher limits then you can try Amazon Pay that I have been using for very long time but only for making online purchases not UPI payments but whenever I tried it worked fine but it has its limitations since its considered as bank not wallet you can add upto 10K per month.

If you need higher limits then banks are the only choice, IDFC, Kotak and many private banks offering instant account opening after submission of KYC but the minimum balance you need to maintain will be 10K.

UPI lite is good but the limit makes it not so useful. Amazon Pay doesn't work with many merchants as the ones near me use gpay or bhim. The banks require me to open a savings account after a year using their digital savings account.

I hope an alternative is found soon else will need to switch back to debit cards

If you have a Jio connection then you can go for their payment bank and UPI service. I have used it in the past for only UPI payment it worked fine at that time not sure how it is working now. I prefer to use my Kotak 300 bank account UPI for my small expenses and like you, I also do not prefer using my main savings account for any transactions. You could either look into Jio or try this account by Kotak it allows zero balance saving accounts the only issue with it is that availing Debit card on that bank account is not free.

I have jio connection and will try it out. I just closed my kotak account so don't want to try their zero balance one. Thanks!

[Bitcoin Smith]

I need an alternative to the bank that can be created via KYC with no minimum balance and easy to pay, load and withdraw anytime. Else, UPI apps are many.

People say mobikwik is good but I always get an error completing KYC.

As I said UPI lite is an option but if you need higher limits then you can try Amazon Pay that I have been using for very long time but only for making online purchases not UPI payments but whenever I tried it worked fine but it has its limitations since its considered as bank not wallet you can add upto 10K per month.

If you need higher limits then banks are the only choice, IDFC, Kotak and many private banks offering instant account opening after submission of KYC but the minimum balance you need to maintain will be 10K.

UPI lite is good but the limit makes it not so useful. Amazon Pay doesn't work with many merchants as the ones near me use gpay or bhim. The banks require me to open a savings account after a year using their digital savings account.

I hope an alternative is found soon else will need to switch back to debit cards

Amazon pay used Bhim too, so whatever QR code the vendor is having then you can make payment using Amazon pay as well. UPI lite is only useful for small payments but if you often make big purchases and doesn't want to go with banking system then your only option is to pay via cash but even for that you can only pay upto 50K without PAN and providing PAN you can pay upto 2 lakh anything further has to be paid via digitally is mandatory.

[libert19]

I need an alternative to the bank that can be created via KYC with no minimum balance and easy to pay, load and withdraw anytime. Else, UPI apps are many.

People say mobikwik is good but I always get an error completing KYC.

As I said UPI lite is an option but if you need higher limits then you can try Amazon Pay that I have been using for very long time but only for making online purchases not UPI payments but whenever I tried it worked fine but it has its limitations since its considered as bank not wallet you can add upto 10K per month.

If you need higher limits then banks are the only choice, IDFC, Kotak and many private banks offering instant account opening after submission of KYC but the minimum balance you need to maintain will be 10K.

UPI lite is good but the limit makes it not so useful. Amazon Pay doesn't work with many merchants as the ones near me use gpay or bhim. The banks require me to open a savings account after a year using their digital savings account.

Irrespective of whatever merchants use, you scan qr with amazon pay and will be able to make payment, no?

I hope an alternative is found soon else will need to switch back to debit cards

Use https://jupiter.money/, you can do kyc from home, I have been using it since last couple years, it's top notch app. No minimum balance requirement, but if you do maintain — there are benefits.