A Scam by PayTM

Let me tell you what happened and you can judge whether it is fair in the part of PayTM to do this.

Here’s what happened.

A friend was supposed to transfer money to my wife. That friend made the transfer and the money was debited from her wallet. But it wasn’t credited to my wife’s wallet. Reading the FAQ page on paytm, because paytm support is horrible, we found out that we needed to go to a shop nearby and get our kyc confirmed to get our own money locked with payTM. Neither the friend nor my wife had their kyc verified.

My question to paytm was simple:

It’s a simple question. If the receiver’s kyc is not updated, then how long will you hold the money before crediting it back to the sender.

I repeatedly tweeted to paytm about how long they will hold the money before crediting back to the sender. It’s been 4 days and they refuse to give an answer.


Their goto reply seems to be – please check your DM. DM had nothing concrete, the usual ‘we have prioritized your query’, ‘we are looking into it’. It was a simple question and if they had nothing to hide, 1) they could have just posted a reply to the tweet without need to DM. 2) Why ask for contact details (which I provided and they said it was not reachable), why do they have to call me, it’s a simple question.

It’s been 4 days now, and no reply. This is also a matter of principle. I dont know how many poor souls PayTM has tricked to add their KYC document for the fear of losing money to PayTM. This is robbery. If money cant be transferred without KYC, then why debit the money from the sender account in the first place.

For KYC verification, they have linked with some local shops. How can we trust our important documents with just any shop. What if those shops collect our phone numbers and details and sell off for lead generation companies?!

Also this practice of PayTM that I questioned some months back didnt get any reply from them:



Isn’t it atrocious. This is bordering on being illegal.

Scam ka doosra naam, paytm!