Paytm has become one of the most trending way to transfer money from user to user, using simple methods. We can buy online, pay our bills, recharge our mobile phones or send money using simple wallet features. In this quick tutorial, we will help you figure out how to transfer money from Paytm Wallet to Bank Account.
Transfer money from Paytm Wallet to Friends or Bank Account
Using the Paytm Website
Well, Paytm website version opened in Computer browsers doesn’t supports the feature of sending money to bank account. Since you cannot send money from Website, users are requested to download the App in their mobile phones.
Using the Paytm App
With a mobile phone in hand, you can easily transfer your money from your Paytm wallet to your bank account. Simply follow the steps listed below:
- Open the Paytm App.
- Click on Pay or Send icon.
- Click the Send to Bank option.
- Fill the Name of person to whose bank account you are sending money.
- Enter the account number.
- Fill the IFSC code of the branch. (IFSC code refers to Indian Financial System Code. You can easily get the IFSC code by clicking the Get IFSC and selecting your bank and branch. Otherwise, you may visit IFSC Code Website if you are having troubles)
- Fill the amount you want to send to the receiver.
- The Minimum amount that is to be transferred should be in three digits, that is, Rs xxx (more than Rs.99).
- If you wish to notify the receiver with any specific message, you can also write a message in the option, although it is not necessary.
- Click Send.
When the transaction is complete, money from your Paytm wallet will be transferred to the bank account you have provided.
Frequently Asked Questions (FAQs)
Q- What is the maximum amount of transfer I can make?
The maximum limit defined is a monthly limit of Rs.25, 000.
Q- What are the Paytm to Bank Account Transfer Charges?
There is a processing fee which is deducted from the transfer value. For KYC customers or Non-KYC Customers, the amount deducted is the same that is 2% of the transaction made. You will be provided with a receipt which will show you how much transaction fees was charged.
Q- What is a KYC Customer?
Whoever confirms their identity by providing identity and address proof, becomes a KYC customer. KYC users are actually people who upgrade they account with the steps mentioned. You can follow up their website for further details.
Q- How to transfer money from Paytm to Paytm in PC?
As we discussed, transfer from PC is not possible at the moment. Instead, you will be redirected to a page telling you to download the app.
Q- How to transfer money to Paytm Wallet?
The firm offers transferring money through Debit card, Credit card, Net banking and UPI (Virtual Payment). Click on “Wallet” on your PC and “Add money” on your smartphone to get started.
Q- How to refund money from Paytm Wallet to Bank account?
The refund from wallet to Bank account is only possible through the smartphone app at the moment. The refund in the smartphone app is quite simple. Just open “Passbook” below your total balance and you will see an option “Send money to bank” -tap on it. Please note, you can transfer money only with your linked bank account, and not to another bank account.