Is AU an alternative to Paytm Bank? Hidden charges, service, downtime etc. AU Guide

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Stone_man

I am creating this thread so that we all can get to understand more about AU bank. 

(Only concerned about AU Digital zero balance account)

1. Is account opening process smooth and easy?  

  • What is the wait time for video call verification?
  • Does account gets opened on the same day.
  • Are they available for video call even on weekends. 
  • What are operational hours for video call. 
  • In how many days generally physical debit card is received. 
  • Do they send other documentation apart from debit card. 
  • Initial funding is needed or not? 
  • Initial funding payment methods.
  • Can account be used just after completing KYC or will have to wait for few hours. 

2. Any welcome benefits like GV or other kind of joining milestone benefits?

3. Charges

  • Debit card
  • SMS charges
  • A/c Maintenance charges ( If any), No. of free cheque leaves.
  • Any other kind of hidden charges. 
  • And how to avoid these charges.

4. Downtime

  • UPI downtime (Specially in evening) (If ever faced)
  • Debit card / Internet banking downtime. (If ever faced)
  • Server maintenance downtimes.(If ever faced)
  • App downtime
  • Do they send emails or inform in advance like Kotak.

5. App and Internet banking. 

  • User Interface in comparison with banks like ICICI (best), SBI, HDFC.
  • Rich Availability of options in IB/ App. For eg:- In ICICI IB one can see and manage Merchant and device token (I have not seen any bank letting user manage device tokens) for debit and credit cards, Other banks also let you manage tokens but that's not as simple as ICICI. 

6. Can UPI be created with Aadhar Card. Also, what is there UPI pin length?

7. Offers.

  • Monthly offers on famous merchants (Grocery, food, utility, entertainment). Any idea for how many more months it will stay like that.
  • Do they partner with Amazon, flipkart during Sale days to offer bank discounts on debit card ( Not credit card ). 

8. What are the ways to deposit money in account apart from UPI. 

9. Marketing / Spamming. Do they spam customer for loan and CC. 

10. Customer support.

  • Is it easy to reach their cc on call? or one will have to wait for long time.
  • Any centralized mechanism for complaint resolution. Like SBI CRM, or ICICI online complaint resolution portal.
  • Has anyone ever faced Debit freeze on account for large number of UPI transactions. Do they unnecessarily block accounts. 

Kindly answer as many questions as possible and help your fellow dimers. 

Kindly mention if I forgot something.

Top Comments
Deal Lieutenant Deal Lieutenant
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Opened AU digital yesterday, so can answer for first point
1) It took me around 10 mins in waiting and another 5-7 mins for VKYC
2)Yes account opened same day in one hour
3) Opened around 9PM and did VKYC at same time
4) Did, initial funding of only 100rs, but ig it is not compulsory, payment methods UPI/DC/NB.
5) DIdn't opted for DC, annual charges 177Rs.
6) No AMC/MAB required, 25 leave cheque book free, they were saying will receive it 7 days
7) UPI pin can be created using Aadhar OTP, 4 digit PIN

32 Comments  |  
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Deal Cadet Deal Cadet
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Both are different  one is payments bank and the other is small finance bank.   Best alternative to Paytm Bank would be Jio payments bank.

Deal Lieutenant Deal Lieutenant
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Opened AU digital yesterday, so can answer for first point
1) It took me around 10 mins in waiting and another 5-7 mins for VKYC
2)Yes account opened same day in one hour
3) Opened around 9PM and did VKYC at same time
4) Did, initial funding of only 100rs, but ig it is not compulsory, payment methods UPI/DC/NB.
5) DIdn't opted for DC, annual charges 177Rs.
6) No AMC/MAB required, 25 leave cheque book free, they were saying will receive it 7 days
7) UPI pin can be created using Aadhar OTP, 4 digit PIN

Flame Flame
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Thank you. 

@kartikxxx It seems like initial funding of 10K is not needed. 

Actually he told me that 10k needs to be deposited as initial funding, but seems like it's not mandatory. 

@1sardarKhan Are you able to use their app/ IB because I heard that without DC it's not possible to access app. Also, is there any option for virtual DC. 

Do you shared your debit card preference with the person who was doing KYC, or we get to choose it while filling those account opening forms. 
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Do they send transaction emails like Axis, ICICI ? 

Deal's Advocate Deal's Advocate
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Add On Question - Is AU online account is still location specific or aadhar location specific or allowed from any location
Something that can be done for location or Visiting Branch only option to open an account ???


🏃‍♂️


    Deal Lieutenant Deal Lieutenant
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    @Stone_man kudos for this brilliant idea.

    keep doing this for other banks also.

    Flame Flame
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    Any suggestion for which other banks? 
    View 1 more reply
    Deal Subedar Deal Subedar
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    Is paytm fastag over? Or it will continue till we have balance in the wallet

    Finance Mentor Finance Mentor
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    Open fincare sfb account - mab is 1000 and from April 1st this bank is converting to au small finance bank. 

    Flame Flame
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    @admin why the hotness is 0, I remember few people have upvoted it. 

    Helpful Helpful
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    I tried to register for Jio Payments Bank savings account but after entering Aadhar number for otp verification it shows error that "Mobile Number registered with bank is different than mobile number linked to Aadhar" 

    The number from which I am trying to register is not linked to Aadhar. So how can we fix this ? Is only Aadhar linked numbers valid yo open account or non Aadhar linked numbers can be registered ? 

    The PostMighty The PostMighty
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    No one answerung this question..i want to know also

    Comrade Comrade
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    @gsurocks call bank and change mobile number in bank

    Helpful Helpful
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    CC is saying that you can only open account in Jio payments bank on that number which is registered in Aadhar. So is it possible to change Jio Payments Bank account number to other number ?
    Cool Cool
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    I have 1 au digital account.. and I should confirm that it's a zero balance account. But they charge some money about 200 or less as debit card charges annually. It's a better alternative as a secondary bank account., Since mostly government banks hv their servers down during critical hours. So I would recommend.

    Flame Flame
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    Are there any Quarterly SMS charges as well, a user has claimed that they charge 15rs quarterly?
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    replyuser
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