Jio Payment Bank vs Paytm Payment Bank: Which is better?

Banking
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So, I’ve got several accounts dedicated to specific financial tasks and transactions, but Paytm has been my go-to for everything—linking, UPI, integrating with various apps, you name it. I prefer not to use my primary accounts for every single app out there.

Whenever I try a new UPI app, I blindly add Paytm without any hesitation, simply because I’m used to transferring money to Paytm whenever needed.

However, now that Paytm isn’t an option (yeah, I’m aware of the 29th February incident), I’m on the lookout for an alternative.

Could Jio Payment Bank possibly fill the void left by Paytm? :thinking:

I’m curious about how reliable Jio Payment Bank is in comparison. If anyone has experience using Jio Payment Bank, I’d greatly appreciate any insights or guidance you can provide.

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I’ve been using Jio Payments Bank for quite a few years now. I’ve linked it to apps like Gpay, Phonepe, Cred, etc., and it works without any issues.

One good thing is that you can add money to JPB via other bank debit cards and earn points as well. :stuck_out_tongue_winking_eye:

However, it’s important to keep in mind that sometimes it undergoes maintenance for 2-3 days, causing all transactions to fail during that time, although this happens rarely. Also, their customer support isn’t very reliable.

My advice would be to use it mainly for small day-to-day UPI transactions and to avoid large transactions.

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  • Jio Payment Bank is a true zero balance account.
  • You won’t be getting a physical debit card.
  • Also, the virtual debit card won’t have a CVV, so you won’t be able to make online transactions but it’ll be enough to link with UPI.