paytm payments bank to charge sms charges at rs 10 per quarter from may 2020 onwards see bank website

https://www.paytmbank.com/blog/2019/09/how-to-c...

Make account zero… Wait one month… And raise closure… Otherwise they will ask cancelled cheque to credit accrued interest if any… If you don’t prefer second then follow the prior one

Can we opt out?

If somebody can’t even afford Rs.10 per 3 months then there are bigger issues to be resolved than looking for bank acc closure.

I also want to close my account but no option

Better to maintain 1-2 saving account, why to maintain so many accounts and pay charges on all?

Paytm payments bank RuPay card give you 5% upto 50 cashback per month on all utility bill payment including LPG GAS payment.

any option to disable sms services

deactivate SMS Alerts, no charges.

kotak 811 bank also charge for SMS Alerts but by default SMS Alerts service is deactivated.

Rather than closing account rise a request to deactivate SMS alert service,

In near future Every bank will charge for SMS, UPI, Virtual DC etc, unless it is a premium account with large deposits and MAB.

How to deactivate SMS alert?
Already have Axis asap, ICICI, HDFC, Paytm Payments Bank, Andhra Bank, SBI, Kotak 811, DBS Digibank, IndiaPost Payments Bank account.
ICICI, SBI credit card also.

Can some explain how to disable SMS alters in different banks?
I have some banks which are dormant (just holding some money) and still paying card and SMS fees every year/quarter.
@guest_999 is right to some extend. Most people here hold many accounts may be more than 5 2 being airtel and Paytm just because free of cost and secondly due to specific offers like lounge access for paytm.
Now Paytm bank is not promising if you hold other banks account of course for following reasons

1. Reduced rate for 4 to 3.5. Better use Kotak
2. Debit card (physical rate increased). No use if you hold credit cards and 1-2 cards of other banks.
3. New SMS charges.
4. No lounge access as of now.
5. This was not available from the beginning (No physical locations)
6. Cannot do large transactions more than 1 lakh.
7. Some UPI offers do not work with Paytm (Mobikwik says so)

And if you don’t need this account. It upto you if you want DONATING 10 every quarter to PAYTM for services which can be provided with other banks.

Secondly,
I want to know the complications regarding closing account with related to income tax department.

P.S. I surrendered by Rupay card (Physical) after they removed lounge access. REASON – I don’t need it.

I am not getting a compelling reason not to close Paytm bank account but I want to know the income tax complications and complications if i open the account again.

@g985481987117 Where did u find this news?

Any update about this I spoke with cc he said that this service is still not started.. 🙄So he cannot deactivate sms alert service