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INTEREST RATE ON DEPOSITS\n Payment banks offer enhanced services compared to a digital wallet, but are not in the same league as the traditional banks.Before you opt for their services, take a look at the rate of interest being offered by them. Like traditional banks, payment banks too offer interest on deposits in savings account and it can significantly vary.Currently, Airtel<\/a> payment bank offers 7.25%, India Post<\/a> payment bank gives 5.5% and Paytm<\/a> payment bank offers 4% annual interest.<\/p>\n \n\tCONVENIENCE AND REACH<\/p>\n Inquire whether a payment bank offers ATM cards that can be used to withdraw money from other banks. Currently, Airtel<\/a> does not offer such ATM cards. “However, Airtel has over 10 lakh outlets across India<\/a> and these will become banking outlets allowing customers to deposit and withdraw money,“ says Deepak Kinger, VP, Banking and Financial Services<\/a>, VirtusaPolaris. However, if you need a debit card, India<\/a> Post or Paytm<\/a> may suit you better. “Frequent travellers should also check whether a payment bank can provide forex cards that can be used as a debit or ATM card outside India,“ says Harshil Mathur, Co-founder and CEO of payment gateway firm Razorpay.<\/p>\n \n\tBUNDLED OFFERS AND DISCOUNTS<\/p>\n \n\tMost of the payment banks have a non-NBFC heritage and will use payment bank as a customer retention and acquisition mechanism. “For instance, Paytm will offer cashbacks and discounts on its ecommerce portal if you pay for the shopping through the Paytm payment bank account. Airtel may give out a discount on utility bill payments made through an Airtel payment bank account,“ says Kinger. So, you will need to choose the payment bank depending on what kind of bundled offers and services you are most likely to avail of.<\/p>\n \n\tCHARGES ON VALUE ADDED SERVICES<\/p>\n \n\tJust like interest rates, it is essential to be aware of the charges levied on the services offered by payment banks. For instance, Airtel payment bank charges 0.65% if you withdraw cash and 0.5% of the transferred amount if you transfer funds to another other bank. “Customers need to watch out for fee escalations on value-added features and transaction charges which can be substantial for higher ticket transactions,“ says Kinger.<\/p>\n \n\tNOT A SUBSTITUTE FOR TRADITIONAL BANKS<\/p>\n \n\tPayment banks cannot lend or offer credit advance to customers like traditional banks. They can issue cheque books and debit cards but not credit cards. Also, unlike traditional banks, you can keep a limited sum in a payment bank account, currently capped at Rs 1 lakh per account. “Payment banks are not a replacement for the established traditional banks. The later offers many more services. Both traditional banks and digital banks have their own merits and cannot replace each other,“ says Mathur.<\/p>\n\n<\/body>","next_sibling":[{"msid":59011785,"title":"Cellular operators write to Finance Ministry, seeks cut in GST rates for telecom","entity_type":"ARTICLE","link":"\/news\/cellular-operators-write-to-finance-ministry-seeks-cut-in-gst-rates-for-telecom\/59011785","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":59011880,"entity_type":"ARTICLE","title":"Airtel, Paytm or India Post: 5 things to know before you use a payment bank","synopsis":"Like traditional banks, payment banks too offer interest on deposits in savings account and it can significantly vary.","titleseo":"telecomnews\/airtel-paytm-or-india-post-5-things-to-know-before-you-use-a-payment-bank","status":"ACTIVE","authors":[{"author_name":"Hiral Thanawala","author_link":"\/author\/479244345\/hiral-thanawala","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479244345.cms?width=100&height=100","author_additional":{"thumbsize":false,"msid":479244345,"author_name":"Hiral Thanawala","author_seo_name":"hiral-thanawala","designation":"Correspondent","agency":false}}],"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2017-06-06 09:16:46","lastupd":"2017-06-06 09:17:55","breadcrumbTags":["Airtel","India","India Post","Financial Services","Banking and financial services","PayTM"],"secinfo":{"seolocation":"telecomnews\/airtel-paytm-or-india-post-5-things-to-know-before-you-use-a-payment-bank"}}" data-authors="[" hiral thanawala"]" data-category-name="" data-category_id="" data-date="2017-06-06" data-index="article_1">
付款银行提供增强的服务相比,电子钱包,但并不在同一个联赛传统银行。在你选择他们的服务之前,看看所提供的利率。与传统的银行,付款银行提供存款储蓄账户利息和它可以显著vary.Currently,附近的旅馆付款银行提供7.25%,印度的帖子付款银行给了5.5%Paytm付款银行提供了每年4%的利息。 方便和达到 询问是否付款银行提供借记卡,可用于从其他银行取钱。目前,附近的旅馆不提供这样的ATM卡。“然而,Airtel已超过十万的家印度这些将成为银行网点允许客户存款和取款,”迪帕克·王说,副总裁,银行和金融服务,VirtusaPolaris。然而,如果你需要一个借记卡,印度文章或Paytm可能更适合您。“频繁旅行者还应该检查是否付款银行可以提供外汇卡可以使用借记卡或ATM卡印度以外,“Harshil Mathur说,支付网关公司的联合创始人兼首席执行官Razorpay。 捆绑优惠和折扣 大部分的付款银行non-NBFC遗产和将使用支付银行客户保留和获取机制。”例如,Paytm将提供超市夜未眠在其电子商务门户网站和折扣如果你支付通过Paytm购物付款的银行账户。Airtel可能给出折扣帐单付款通过Airtel付款银行账户,”国王说。因此,您将需要选择付款银行根据什么样的捆绑和服务你是最有可能的效果。 增值服务收费 就像利率,至关重要的是要注意费用征收的由付款银行提供的服务。例如,Airtel支付银行手续费0.65%如果你取出现金,0.5%的数量如果你转移资金转移到另一个银行。“客户需要当心费升级增值功能和交易费用可以大量高票交易,”国王说。 不能代替传统的银行 付款银行不能提供或提供信贷推动客户喜欢传统的银行。他们可以发出支票簿和借记卡但不是信用卡。与传统银行不同,你可以保持一个有限和付款的银行账户,目前限制在Rs 1十万卢比/帐户。“付款银行不是一个替代老牌传统银行。后提供更多的服务。传统银行和电子银行都有自己的优点,不能互相取代,“Mathur说。
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