Best Payments Bank

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Deal Newbie
Abhaysingania
Suggest Best Payments Bank for UPI transactions with nil charges of bank.
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Deal Subedar Deal Subedar
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Get Wallet UPI, its way better than payments bank xD

Deal Subedar Deal Subedar
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Get Wallet UPI, its way better than payments bank xD

Deal Cadet Deal Cadet
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Wallet UPI is the Worst, Especially Amazon. Once i paid 3*60 = 180 instead of 60, as the first 2 transactions failed. It's been more than a Year, Never Refunded. After many many complaints, i forgot about it. I recently had an issue with CC UPI, swiggy didn't refund and Cred Didn't help, so i took the help of the bank. In the case of Wallet UPI failed transaction, Complete Control is in the hands of Amazon, which is risky.

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Deal Subedar Deal Subedar
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Get Wallet UPI, its way better than payments bank xD

Deal Cadet Deal Cadet
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Wallet UPI is the Worst, Especially Amazon. Once i paid 3*60 = 180 instead of 60, as the first 2 transactions failed. It's been more than a Year, Never Refunded. After many many complaints, i forgot about it. I recently had an issue with CC UPI, swiggy didn't refund and Cred Didn't help, so i took the help of the bank. In the case of Wallet UPI failed transaction, Complete Control is in the hands of Amazon, which is risky.

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Deal Newbie Deal Newbie
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If your sole purpose is UPI, then follow @DEEPANGEORGE's advice, no need for a full bank account. Amazon Wallet is a good option, since in sometime, you'll be able to link wallets in any other UPI app just like a bank account

If you need more, then I'd suggest AU Bank which isn't a payments bank but is the most similar in functioning. Apart from Paytm, most payments bank are half baked.

Deal Newbie Deal Newbie
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JIO PAYMENT BANK.

* video kyc , open acc in 5 min

* free rupay platinum debit card(ltf)

* no sms charge

Deal Cadet Deal Cadet
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Charges will come later after they kill most other UPI apps.

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Deal Cadet Deal Cadet
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Indusind Indie APP, Instantly get a virtual debt card and zero balance account. No charges at all.

Deal Cadet Deal Cadet
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There is no free lunch in finance sector. Even if some companies offer free lunch, either they take away y/our privacy or the free lunch is temporary. A company can not run a finance business with zero fees. For example, even to send an SMS or (even email), it costs some penny. Every UPI transaction requires some CPU/server resource. How can they compensate for such expenses?!


RBI can only dictate certain "free" terms such as free NEFT, free ATM usage for certain number of withdrawals, free p2p UPI, etc. To compensate for those free services, a finance business needs alternative streams of income.

Deal Subedar Deal Subedar
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So the best game is trying to take the maximum pie of the things with huge balance bank account or FD linked account xD, thats what many people who are knowledgeable in this do to avoid costs and indirectly pushing those costs to OTHER basic savings account holders sadly, who just maintains average maintenance balance and gets to pay all the charges sadly 


The ones who maintain heavy balance OR huge FD or huge calculated investments , always gets free stuffs in Finance world:)


There is free lunch only for people who HAS LOTS OF MONEY (provided if these people know where to invest)

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