Citizen’s Charter

Preface

The Citizen’s Charter of Paytm Payments Bank explains our commitment towards customer satisfaction. This document details our key commitments and responsibilities and also specifies the obligations on the part of the customers for a healthy banker-customer relationship.

The charter has been prepared to promote fair banking practices and to provide information on various activities relating to customer service.

Note-: This is not a legal document and does not intend to create any new rights or obligations either on the part of the Bank or on the part of the customer, other than those that accrue as per contractual/ regulatory obligations in the normal course of business.

Copies of the Citizens Charter will be available on request to all our customers at our branches, administrative offices and on our web site.

This Citizen Charter should be read in conjunction with the Bank’s Customer Rights Policy, as together they form the foundation of our commitment to fair treatment, transparency, and customer service excellence.

Introduction and Objectives

This policy document provides a broad framework and information with respect to various products and services offered by the Bank. This charter not only explains our commitment and responsibilities along with redressal methods but also the obligations on part of customers for healthy practices.

Operational Guidelines for Payment Banks and Key commitments to customer

Branches

• Display business hours and Time-Norms for Various Banking Transactions
• Render courteous services
• Make the branch, Phone Banking numbers and Internet Banking address of the Bank known to customers easily
• List of Important/Emergency Contact nos. will be displayed for easy availability of the customers at the branch
• Attend to all customers present in the banking hall at the close of business hours
• Display interest rates for various deposit schemes from time to time
• Provide details of various services of the Bank
• Provide facility for logging complaint/ suggestion in the branch premises
• Offer nomination facility to all deposit accounts
• Display address of Regional / Zonal and Central Offices as well as Nodal Officer dealing with customer grievances / complaints.

Digital Banking

• Render digital banking service 24 hours a day 7 days a week using Mobile App
• Provide details of various deposit schemes/ services of the Bank
• Respond to customer queries related to customer account(s) with us subject to verification of the customer
• Provide facility for logging complaint/ suggestion

*Only select queries/ transactions may be supported outside banking hours

Key Expectations from Customers

While availing Banking service in Branch’s, customers are encouraged to support the needs of senior citizens (60 years and above), visually impaired and differently abled individuals. Additionally, they should inform the bank immediately in case of loss of important items such as debit card, cheque books etc.

Product and Service Use: Customers are expected to read and fully understand any application forms or documents before signing, and consult experts if necessary before purchasing products or services. They should avoid signing blank cheques or recording their specimen signature in their passbook or cheque book.

Transaction Processing: Customers are encouraged to provide feedback on services, pay interest, instalments, and other dues on time, and utilize available services such as ATMs, ECS, and EFT at the branch.

Account Management: Customers should operate their accounts regularly and inform the bank if they do not intend to use them for an extended period. They are also encouraged to use standing instructions for recurring transactions and use nomination facility. Additionally, customers are encouraged to promptly notify the bank of any changes in their address, telephone number, or other contact details and not to introduce any person who is not personally known to you for the purpose of opening account.

Safekeeping: Customers are responsible for the safekeeping of cheque books, debit cards etc.

Grievance Redressal: Customer should refrain from raising any anonymous complaint or raising multiple complaints for the same issue before completion of Turn Around Time (TAT).

Products and Services offered

Savings Account

• It is an interest bearing deposit account which may be accompanied with debit card
• There may be certain service charges/restrictions on the savings accounts as decided by the Bank from time to time. Please refer ‘Deposit and Interest Rate Policy’ on bank’s website/branch for details.

Current Account

• Current account is a non-interest bearing deposit account which may be accompanied with debit card
• There may be certain service charges/restrictions on the current accounts as decided by the Bank from time to time. Please refer ‘Deposit and Interest Rate Policy’ on bank’s website/branch for details.

Variants of Deposit Accounts

Bank allows accounts to be opened fairly for all customers including minors and customers with special needs. Please refer ‘Deposit and Interest Rate Policy’ on bank’s website/branch for details.

PPI

Wallet

Customers can use Paytm Payments Bank Limited wallet for hassle free payments, sending money to bank accounts Further details are available in the following link and updated from time to time: https://www.paytm.bank.in/products#wallet

Account Opening and Operations of Accounts

Channels to Clarify Queries

• Within branch, the branch official will explain the procedural formalities in account opening
• The customers may also be able to reach the Bank over customer helpline/mobile application to clarify their queries outside the branch

KYC

Customers will be able to open accounts and fulfill KYC requirements via any of the Branches/authorized agents of the Bank by confirming their identity, address and providing the required documentation. Please refer ‘Deposit and Interest Rate Policy’ on bank’s website/branch for details.

Regulatory / Statutory Compliance

In order to comply with regulatory/ statutory requirements, while opening an account, we will adhere to the Know Your Customer (KYC) Norms and Anti Money Laundering (AML) as laid down in regulatory guidelines by satisfying ourselves about the identity of the person seeking to open an account, thereby protecting prospective customer/s, members of the public, the Bank and other stakeholders against fraud and other misuse of the banking system. We will also satisfy ourselves about the sources of income of the existing/ prospective customer. In order to meet the above, the Bank shall ask customers to provide documents and information as may be required. Customers must also provide to the Bank such documents and information as required for updating and verifying customer information periodically as required.

Debit and ATM Card

Paytm Payments Bank Savings account comes with a free Digital Debit Card. Further details are available in the following link and updated from time to time: https://www.paytm.bank.in/products#DebitCardMain

Interest on deposits

• Offered Interest

  The Bank will pay interest on savings account at the rates as decided by the Bank from time to time and published on its website/mobile application/branches/access points.

• Interest Calculation

  The Bank will offer simple interest which will be calculated daily (based on the number of calendar days in the year) and paid out monthly, and this offering may be subject to changes based on the discretion of the Bank.

Nomination Facility

The Bank will provide the nomination facility to its customers opening a deposit account

Addition of Nomination

Customer will be allowed to view/add/edit nominee through the mobile application.

Valid Nominee

A nominee cannot be an Association, Trust, Society or any other Organization or any office- bearer thereof in his official capacity. In view thereof any nomination other than in favour of an individual will not be valid.

Nomination Acknowledgement

The Bank will acknowledge the receipt of the duly completed nomination, cancellation and/or variation of nomination.

Account Statement

Physical statement within branch premises and soft copy of statement through digital medium may be provided on an 'on request' basis subject to charges. Please refer ‘Rates and Charges’ on bank’s website/branch for details.

Financial products of partner financial institutions

The Bank may distribute certain financial products of our partner banks and other financial institutions. Details of such products will be made available to the customer at the time of product launch for existing customers and at the time of account opening for new customers. Customer consent will be taken for terms of use of such products as applicable.

Deposit Insurance

Insurance Scheme

All bank deposits are covered under the insurance scheme offered by Deposit Insurance and Credit Guarantee Corporation of India (DICGC) subject to certain limits and conditions. The details of the insurance cover in force will be made available to the depositor. Please refer ‘Deposit and Interest Rate Policy’ on bank’s website/branch.

Note:-The insurance will be available only on the amount in the account and not the wallet. As wallet is not a deposit product, wallet balances will not qualify for DICGC cover

Account Closure

Account Closure Request

The customer may raise a request to close his/her account through multiple banking channels. Please refer ‘Deposit and Interest Rate Policy’ on bank’s website/branch for details.

Time-Norms for Various Banking Transactions

The following time norms (in minutes/days) etc. are indicative only:

Confidentiality and Customer Data

The bank shall not disclose details/particulars of customer’s account to any third person or party without the expressed or implied consent from the customer. However there are some exceptions such as disclosure of information under compulsion of law, where there is duty to disclose the same in public interest and where interest of bank requires disclosure.

Grievances Redressal Mechanism

In case of any complaints or issues and timelines of redressal, customers are encouraged to refer to the Bank’s Grievance Redressal Policy for detailed procedures on how grievances are handled. For more information, please visit https://www.paytm.bank.in/Policies/Customer-Grievance-Redressal-Policy-for-Paytm-Payments-Bank

Inoperative Accounts / Unclaimed Deposits

• A savings/ current account shall be treated as inoperative, if there are no ‘customer induced transactions’ in the account for a period of over two years.
• PPIs with no financial transaction for a consecutive period of one year shall be made inactive by the PPI issuer after sending a notice to the PPI holder/s
• he credit balance in any deposit account maintained with banks, which have not been operated upon for ten years or more, or any amount remaining unclaimed for ten years or more
• The depositor can request the bank to activate the account for operating it after doing the necessary due diligence.
• Please refer ‘Deposit and Interest Rate Policy’ on bank’s website/branch for details.

Settlement of Death Claim

The bank will ensure quick and efficient settlement of funds irrespective the account has specified a nominee or not. Bank will settle the claims in respect of deceased depositors and release payment to survivor (s)/ nominee in case of accounts with survivor/ nominee within a period not exceeding -15- days from the date of receipt of the claim subject to the production of proof of death of the depositor and suitable identification of the claimant(s) to the bank’s satisfaction. In the case of deposit accounts where the depositor had utilized the nomination facility and made a valid nomination or where the account was opened with the survivorship clause ("either or survivor", or "anyone or survivor", or "former or survivor" or "latter or survivor"), the payment of the balance in the deposit account to the survivor(s)/nominee of a deceased deposit account holder represents a valid discharge of the bank's liability, subject to compliance of RBI guidelines. In such cases, PPBL will support the customers as per Regulatory guidelines during pandemic situations if any. Please refer ‘Deposits and Interest Rate Policy’ on bank’s website/branch for details.

Facility of Exchange of Notes and Coins

The Bank accepts soiled notes from customers / non-customers for exchange as per RBI's note refund rules.

All branches of the Bank offer the facility of exchange of soiled notes, and exchange of coins including uncurrent coins into notes or coins. The process of exchange would be as per RBI's Note Refund Rules.

Rates and Charges

• The Bank provides various products and services to customers for which service charges are levied. They can be viewed here: https://www.paytm.bank.in/ratesCharges
• These charges are reviewed/revised as decided by the Bank from time to time
• The list of service charges is displayed in the branches and may also be made available on request

Some “Dos and Don’ts” for the customer

Policy revision

• The Customer Service department shall be responsible to own, maintain and update this policy.
• Any revisions to the policy may seek inputs from Operations, Business, Risk, Finance, Compliance and other concerned departments of the Bank.
• The policy has been approved by the Customer Service Committee of the Board and is reviewed when ever required or at least annually.

Regulatory References

• RBI Master Circular on Customer Service in Banks dated July 1, 2015
• Indian Bank’s Association: Citizen’s Charter, dated March 2012

Disclaimer

• The Bank has the right to decline the opening of account if a customer is unable/unwilling to provide requisite information
• The Bank (as a Payments Bank) is not permitted to offer overdraft/advances against deposits
• The Bank will notify customers of debit or credit transactions in their account through applicable channels. Please referPaytm Payments Bank || Rates And Chargesfor more details.
• For cash deposit exceeding Rs.50,000/- in a day, PAN number of respective account holder will be required
• The bank will not be liable to compensate customers for delayed credit if some unforeseen event beyond the control of the bank prevents it from performing its obligations
• Wallet is not a deposit product and hence, wallet balances will not qualify for DICGC cover
• In the event of any conflict between the "Citizen Charter" of the PPBL in English language listed athttps://www.paytm.bank.in/Policies/Citizens-Charter-for-Paytm-Payments-Bankand the translated version of the "Citizen Charter" in concerned local language updated on PPBL website, the English version shall prevail.