Paytm Payments Bank restricts credit into Yes Bank accounts to safeguard users’ money

Paytm Payments Bank Ltd (PPBL), has restricted transaction settlements, including UPI, into Yes Bank accounts to safeguard their users’ money.

Post the RBI moratorium on withdrawal of money from Yes Bank, PPBL has taken this step to ensure that its users’ money doesn’t get stuck in their Yes Bank accounts where they are unable to move their money out.

While third-party apps that rely on Yes Bank have also been affected, the UPI ecosystem has been designed in a way where customers can continue using other UPI apps to transact on UPI. Paytm customers continue to use Paytm UPI and wallet service without any interruption as before.