Everyone gets curious when opening a new bank account as it is related to a monetary transaction. So today, we will discuss how safe is Airtel payment bank and should you open an account with them. Also, I will guide you through the process and tell you the merits and demerits of the account.
How Safe Is Airtel Payment Bank
Banking fraud is now rampant all over the country, and people get robbed online by these fraudsters. So when we open a new account in a bank or availing a new credit or debit card, safety should be our top priority. You should double-check the safety features of the bank and especially online.
So lets discuss the safety features of Airtel payment bank
If you have opened your Airtel Bank account with your Airtel number then the company has launched a special feature for you known as “Safe Pay”
You just have to click this option and it will navigate to you the next page where it will ask you to enable the safe pay for UPI and online transaction. After you enable the option you will find the enabled option written just below the safe pay. So your “Safe Pay” option is enabled now. Let’s see how it works and what benefits it has.
UPI– If you initiate a UPI transaction, then you have to enter all the details like UPI id or phone number and amount. Then you can click the Pay button but this is not final, and a pop up will appear immediately showing all the details like name and the amount you are sending. If you have entered the wrong details like UPI id or you have entered the wrong amount, you can click the cancel button, and the transaction will be cancelled.
If you find all the information you provided are absolutely correct then you can hot the OK button and your transaction will be completed in seconds.
Online transaction– Airtel Payment Bank provides you with a virtual debit card that you can use anywhere and especially online. If someone has stolen your card details and he/she initiated a transaction using your card online, then after they hit the Pay button, a push notification like the above example will appear on your mobile. If you have not initiated the transaction and someone is misusing your card details, then you can press the Cancel button, and the transaction will be cancelled.
No matter how many times he tries to transact through your card details he/she will not succeed.
How Safe Is Airtel Payment Bank for other sim users
But the feature is available only to the customers who have opened their Airtel Payment bank account with their Airtel number. If you have opened the bank account with other company sims, you won’t be able to avail of this facility. To avail this facility you have to PORT your number to airtel.
How to open an Airtel Payment Bank account
To open the Airtel Payment Bank account, you have to download the Airtel Thanks app from Play Store (Android Phone) or App Store (for iPhone).
As soon as you install this app on your mobile and accept its terms and conditions, it will give you the option to enter your mobile number. After entering the mobile number, it will send an OTP to your mobile number, you will have to enter this OTP for confirmation. Now your mobile number is verified.
As soon as you open the Airtel Thanks app, at the bottom you will see four options like Service, Banking, Explore and More.
You have to click on the banking option. As soon as you click on the banking option, a second screen will appear in front of you.
If you are an Airtel customer, then all you have to do is enter your Aadhaar card number and PAN card number.
If you are not a customer of Airtel, then you will have to fill in all your details such as your name, date of birth, age, marital status, father’s name, mother’s name, home address, all these along with your Aadhar card number and PAN card number.
As soon as you enter all the details, you will be asked to create your MPIN on the next screen. This is a 4-digit number, which you can also keep as you wish, this number you will need in your future transactions.
As soon as you create your MPIN, you will receive an OTP on the mobile that is linked with your Aadhar card. You will have to enter this OTP and your job is almost done.
Now Airtel’s customer care executives will make a video call to you to confirm that all your information is correct and that you are the same person whose Aadhaar card has been entered with the new account.
As soon as those people get confirmed about your identity, your account will be activated.
Facilities with Airtel Bank and Airtel Payment Bank Customer care number
- Easy accessibility with over 5 Lac banking points.
- The annual interest rate of 2.5% up to 1 lakh end of the day balance and 6% above 1 lakh and up to 2 lakhs of end of the day balance.
- Free personal accident insurance cover of Rs. 1 Lac.
- No minimum balance requirement.
- Virtual Debit Card.
For customer care regrading Airtel Payment Bank Airtel Customers can dial 400 from their mobile whereas customers using other mobile company service can dial 8800688006.
Wrapping up How Safe Is Airtel Payment Bank
Airtel payment bank is super safe for Airtel customers but for other customers it is like any other bank. I personally feel Airtel should give the Safe pay option to other customers too.