Airtel Payments Bank:
Airtel Payments Bank is a payments bank established in India by Bharti Airtel, a leading telecommunications company. It focuses on providing various financial services to its customers, primarily catering to:
- Mobile and DTH Recharges: Users can conveniently recharge their prepaid mobile phones and DTH (direct-to-home) subscriptions directly through the Airtel Payments Bank app or website.
- Bill Payments: The bank facilitates paying various bills like electricity, gas, water, and landline, all within their platform.
- Money Transfers: Customers can transfer money to other bank accounts using BHIM UPI, Airtel Money Wallet, or their linked savings account.
- Savings Account: Airtel Payments Bank offers a savings account with a competitive interest rate (as of February 29, 2024).
- Additional Services: The bank also provides services like:
- Insurance and loan applications
- FASTag purchase for toll payments
- Digital gold investments
- Gift cards and Google Play recharge codes
- Exclusive offers and deals
Key Points to Remember:
- Limited Functionality: Airtel Payments Bank is a payments bank, not a full-fledged bank. This means it has limitations compared to traditional banks, such as not offering loans directly or issuing credit cards.
- Digital Focus: The bank primarily focuses on promoting cashless transactions through its mobile app and website.
- Extensive Reach: By leveraging Airtel’s vast network, Airtel Payments Bank offers its services to a large user base across India.
How to Open account in Airtel Payments Bank
You can open an account in Airtel Payments Bank through two main methods:
1. Online Through the Airtel Thanks App:
Here’s how:
- Download and Install: Ensure you have the latest version of the “Airtel Thanks App” downloaded and installed on your smartphone.
- Open the App: Launch the Airtel Thanks App and log in using your existing Airtel mobile number.
- Find the Option: Look for the “Open Airtel Payments Bank Account” section or similar wording within the app. This might be located under the “Payments” or “Banking” section.
- Follow the Steps: The app will guide you through a step-by-step process, usually involving:
- Entering your personal details like name, date of birth, and address.
- Capturing your photo and PAN card details for verification.
- Setting up a secure MPIN (Mobile Banking Personal Identification Number) for future logins.
- Verification and Activation: Once you complete the steps, Airtel will initiate a verification process. Upon successful verification, your Airtel Payments Bank account will be activated.
2. Offline Through Airtel Banking Point:
If you’re not comfortable with the online process, you can visit an authorized Airtel banking point near you. Here’s what to expect:
- Locate a Banking Point: Use the Airtel website or app to find the nearest Airtel banking point in your area.
- Carry Documents: Make sure you have the necessary documents like:
- Valid ID proof (e.g., Aadhaar card, PAN card, Voter ID)
- Address proof (e.g., utility bill, rental agreement)
- Two passport-sized photographs
- Meet the Representative: Approach a representative at the banking point and express your interest in opening an Airtel Payments Bank account.
- Complete the Formalities: The representative will guide you through the application process, which may involve filling out a form and providing your documents for verification.
- Biometric Verification: You might need to undergo fingerprint or iris scan for additional verification.
- Account Activation: Once the verification is complete, your Airtel Payments Bank account will be activated.
Additional Notes:
- Both methods are generally free of charge, but it’s advisable to check with Airtel for any potential charges or minimum balance requirements.
- Make sure you have a stable internet connection if opting for the online method.
- Keep your documents readily available for verification, regardless of the chosen method.
- For detailed information and any updates, it’s always recommended to visit the official Airtel Payments Bank website: https://www.airtel.in/bank/
