Paytm has become huge nowadays and it is growing every day. We shall use it without any doubt as it has its own benefits. But it has also some great disadvantages which are not avoidable too. Having all these disadvantages in mind may save us from trouble sometimes. Even in some cases, we may lose our money on Paytm wallet if not taken proper arrangements. Here are some disadvantages you should know about using Paytm online wallet.
Always Depend On An Internet Connection:
You need a net connection to use this wallet benefits. It’s not a big deal right. But not every time as sometimes you are in some places where the connection is as slow as a snail and paying through your wallet becomes a difficult job. Sometimes you pay through your wallet but the money is not added to the payee wallet due to poor connection. So it’s become troubling to use every now and then. But it may be solved as there is a possibility of using this wallet without a net connection in future. Let’s hope it will happen soon.
You Lose Your Phone, You Lose Your Money:
Pytem is solely depended on your phone no. If you lose your handset it’s most likely you may lose your wallet money too. By using your phone anyone can generate a new password on your behalf and access your wallet. So Losing your phone may cost you a misfortune in this case.
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Paytm Charge You For Transfering Money To Bank Accounts:
You need money in your wallet and you recharge it from your bank account. But if you need the money back to your bank account, Paytm may charge you for that. it charges you from 1 % to 4 % depends on your account type. It is 4 % for the normal account and 1 % for upgraded wallet holder. So keep that in mind.
Worst Customer Experience:
Paytm has worst customer service I ever experienced. It is not a toll-free service so you need to pay for your call to Paytm. Getting the line is a tough job and even if you do get the line you will not get the resolution every time what you are looking for.
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Not Available Everywhere:
Let’s accept the truth that you can not find Paytm accepted in anywhere you go. There must be some mall or shop you need to purchase from but they do not accept the wallet payment yet. So any way you need to carry your credit or debit card there( if not cash). So there is no total independence of using it and thus it becomes a huge disadvantage.
Otherwise, when you transfer your wallet money to bank accounts it takes few days to show up in your account. And if in this time period you need your money, you are not getting it. So there, of course, some areas where the wallet needs to improve their services. But overall It is useful without any doubts but needs to be perfected undoubtedly.