Now the question will arise in your mind that if everyone sends you money on Paytm, then after a time, a lot of amount will be deposited in it. It is possible that you would not like to use this amount only for shopping from Paytm. The next question will be whether Paytm Wallet money can be transferred to bank account? The answer is yes. Its process is very easy. Let us tell you about it.
(Read: What is Paytm, how to use, know everything about it)
Let us know that the feature transferring money from Paytm Wallet to bank account does not work on the website of Paytm. To transfer money, you have to download the Paytm app.
Transfer money from Paytm app
1. Open paytm app
2. Tap on pay or sand icon
3. After this tap on the sand to bank option
4. After this, write the name of the account you are going to give money.
5. Enter bank account number
6. After this, enter the IFSC code of the branch. You also have the facility to find IFSC code on the Paytm app. For this, you have to select your bank’s name and branch.
7. After this, write the amount you want to transfer to the bank.
8. If you want, you can also tell the reason for sending money. However, it is optional.
9. After this, tap on the sand.
Congratulations, you have transferred money to your bank account.
Let us tell you that the process of transferring money from Paytm to bank account is not free.
1. 1 percent of the total amount is taken from those who are KYC -backed customers.
2. Customers who are not supported KYC have to pay 4 percent.
The good thing is that in view of demonetisation, Paytm will provide this service to its KYC (No Your Customer) supported customers for absolutely free by 31 December. Keep in mind that Paytm users whose wallet is not supported, will have to pay 1 percent transaction amount for transfer of money to bank account.
Apart from this, the company has told that the user who has recently started using Paytm. They have to wait only 3 days to transfer money to the bank. Earlier it used to take 45 days.
Explain that you can transfer the most Rs 25,000 from Paytm account to a bank account in a month.
