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how to transfer money from paytm wallet to bank account
As everything around the world is becoming digital, money management also goes through different digital transformations.
From the time of money order to bank transactions, now it reached up to the money transactions through mobile.
Though there had been speculations about the security of such dealings, the reliable Paytm like apps proved the feasibility of a secure money transaction.
Table of Contents
The splendid Paytm wallet
Being the largest mobile payment platforms in India, it enables the instant money transfer free of cost.
The Paytm Wallet feature supports the payment of bills at several places, online recharges, ticket/ movie booking, etc.
- Faster processing speeds
- High monthly transaction limit
- Exclusive offers from Paytm partners
- special cashback policies
Bank transfer through Paytm
We are familiar with the interbank and intrabank transactions of money.
But people still have got confusion regarding the money transfer from Paytm to the bank account, as it sounds quite new.
The refilling of the Paytm wallet from a bank account is a normal scenario and the role reversal will generate certain confusions for sure.
It is of no doubt that, the balance amount in the Paytm wallet will remain safe there for a longer period for longer services, one may face some urgent scenario of money requirement in the bank account.
In that case, this role reversal will be very useful.
If the bank account and Paytm is already linked, you will avail the BHIM UPI transaction facility, entirely free.
The exciting fact is that one can even bring in money through the cashback policies and Paytm offers in the case of a bank to bank transactions through Paytm.
Note: it is important to note that the bank transaction facility is available only with the mobile-friendly Paytm apps. Don’t waste your time trying it in your PC or laptop.
Step by step guide
- After completing the installation, open the Paytm app in your mobile
- From the tabs available tap on the ‘passbook’ option
- Just select the Paytm wallet option
- There you can tap the send money to bank option
- Choose the transfer option
- Enter the sum along with bank details
- Finally, confirm to proceed
Some noteworthy facts
There is a set limit for the transferrable amount and one can transfer the amount in between Rs. 100 to Rs. 25,000.
There are 5 % transaction charges to bank accounts. For this transaction, one may need the receiver’s account holder name, account number, IFSC code.
To avoid the service charges, one can first make the wallet transfer to a business account by QR code scanning method.
Then through the business account holder, you can transfer the money to the bank account without any charges.
With the trending digital money transfer options, most of the billing headaches concluded.
The Paytm money transfer app in the mobile ease out all the money transfer and other services swiftly. With the fantastic features like Paytm wallet, even the bank transactions are at few finger taps away.
No other platform will offer this comfort and ease in the most secure ways.