Do you know you can send your Paytm wallet money directly to your bank account? You have added money to your Paytm wallet but now due to any reason you need that money in your bank account. Don’t worry your money doesn’t stuck in your Paytm wallet. In this guide, we will provide you with how you can transfer your wallet balance directly to your bank account.
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How To Transfer Paytm Wallet Money To Bank Account
Paytm is India’s largest digital payment platform that allows the user to do various transactions like Mobile Recharge, Send Money, Metro Recharge, Broadband Bill Payment, Buy & Sell Gold, and many more. For this first, you need to Complete Paytm KYC. Follow these simple steps to transfer your money from Paytm to your bank account.
Step 1: First of all launch your Paytm app and make sure you have logged in to your Paytm Wallet and tap on Paytm Wallet under the My Paytm section.
Step 2: Scroll down to the bottom and tap on send money to the bank.
Step 3: Now enter the amount which you want to transfer from your wallet to your bank account.
Step 4: After this, you need to enter the bank account details which are required to transfer funds from your Paytm Wallet.
- Enter the Account Number.
- Enter the Account Holder Name.
- Enter the IFSC code of the Bank.
Step 5: Re-enter your bank account number which you have entered in the previous steps.
Step 6: Now you can see the summary like the amount to be sent and charges levied by Paytm for transferring money to your bank account. Earlier the charges were 5% but now Paytm has removed all the transaction charges while transferring the money.
Step 7: Enter the OTP that you will receive to your registered mobile number and proceed.
Step 8: Now you can see your entered amount is successfully transferred to your bank account and you will receive the money instantly to your bank account.
Paytm Wallet To Bank Transfer Charges
As of now Paytm is not charging any amounts while transferring money from Paytm wallet to the bank account. It means it is free of cost. Earlier Paytm was taking some charges which are 5% of the total amount.
FAQ (Frequently Asked Questions)
There are no charges for doing KYC. It is free of cost to complete the Paytm KYC. There are lots of benefits to completing your Paytm KYC. You can check it out here for all the benefits of Paytm KYC.
1. You can transfer money from Paytm to anyone after completing the Paytm KYC.
2. Your Paytm wallet limits can be increased after completing the KYC.
3. The limit can be extended up to 1 Lac.
4. If you have completed your Full KYC then you are eligible to open a Paytm Payment Bank account.
Yes, you can pay your water bill payment online whether it is Delhi Jal Board or any other service provider. There are various websites and applications through which we can pay our Water Bill like Paytm, PhonePe, Amazon, and Mobikwik. It will take not more than 2 minutes to pay any Water Bill. Nowadays we prefer to complete our work online while going to the Jal Board office to pay for the Water Bill.
Want to download the Paytm wallet statement? Don’t know where you have spent your hard-earned money using Paytm. Stay here we can guide you on how you can request your Paytm Wallet Statement so that you can view and analyze all transactions you have done using the Paytm Wallet.