Transferring money to your bank account from Paytm is very easy. It only requires a few minutes to do this. You can follow this guide to learn how to transfer money from Paytm wallet to bank account without paying any charges.

Transfer Money from Paytm to Bank

Paytm is one of the biggest e-commerce and mobile recharge portals of India. They started small, but now they have become quite big. Right now Paytm has 147 Million wallet users. It’s a huge number, so many people are using their services now. Many of Paytm’s customers are looking to transfer their Paytm cash to the bank, this article is for them only. So let’s get started.

Recommended Read: 7 Best Paid Online Survey Websites for 2018.

Transfer Money from Paytm to Bank without Charges

Well, I have mentioned all the things that you need to know already. Now you can just check the step-by-step guide from below.


Step 1: Start with downloading and then installing the Paytm app on your phone if you have not installed it yet.

Step 2: Now, open the app. You should see the menus within the app. Among those lists of features and what you can do. click on the Passbook link to get to the Paytm Wallet.PayTM App

 

I am using an iPhone, so if you are on an Android phone, then it may look a little bit different.

Step 3: Now click on the Login button to log in to your Paytm account.Login to PayTM

 

Step 4: After you log in, you will see something like this (check the screenshot). Now click on “Send Money to Bank” link.PayTM GUI

 

Step 5: If you have already transferred money to any bank account previously you will see those bank accounts here. However, I have not done this in the past, so the screen is not showing any bank accounts which were used before. Just click on transfer.Send Money To Bank

 

Step 6: Now fill up the form with account holder name, account number, the money you want to send, and the IFSC code of the bank. You can also add a comment there if you want. After you enter those details, just click on “Send Money“.Transfer to Bank

 

Step 7: You will be prompted to “Confirm bank Transfer”, click on it to finish the transaction. You should see the transaction summary in the next window. That’s it. You just accomplished the transfer.

Also Read: How to Delete Paytm Wallet Transaction History.

Why Get Paytm KYC?

You need to get Paytm KYC done. If you are not yet a Paytm KYC user, go to your nearest Paytm KYC center to register your account. Bring all required documents so you will not have to go back and forth to get approval. The whole process should take about 48 hours until you. After that, you may use your Paytm.

Coming in complete will get the job done in one go. Some of the approved documents are Aadhar card, voter’s ID card, driving license, passport, or NREGA job card. Once you are finally a KYC user, you can transfer as many times as you want.

Also Read: How to Delete Your PayTM Account.

Some Reminders

Many Paytm users have money on their accounts and want to transfer it to their bank accounts. Though any user with minimum 100 Rupees balance in their account can transfer money to a bank, there are some things which you should know.

    • Currently, the monthly transfer limit is Rs.20,000/month for non-KYC users and Rs.100,000/month for Paytm VIP customer or people who have submitted some requirements to get KYC.
    • Though you can send Rs.25,000 /1 Lac per month, you can only send “Rs. 100-5000” of Paytm cash to the bank per transaction.
    • Also, it’s worth noting that if you are a regular Paytm (Non-KYC) user, you will have to bear 4% charge for every transaction. And if you are a user who has done their KYC then you have to bear only 1% charge.

Official Update: From Feb 6, 2017, All Paytm users have to bear 0% fee on transferring money to their bank account.

  • It can take up to 24 Hours to appear the money in your bank account after you send it.
  • You can’t transfer the money from Paytm website (paytm.com), you have to use the Paytm app for it.

That’s it, and now you have successfully sent money to your bank account from Paytm wallet, you will it appear in your bank account within 24 hours.

Thanks for Reading! This article has been written by our editorial staff. Editorial Staff at Most Useful Tricks is a team of Tech experts led by Noah Peterson.

3 COMMENTS

  1. I HAVE SEND MONEY PAYTM WALLET TO BANK TXN ID 5723327638 ON DATE 19-01-2017 DON’T CREDIT IN MY BANK ACCOUNT AUR DON’T REFUND IN MY PAYTM WALLET ON TODAY DATE 1-04-2017 AFTER 71 DAY TO GO PLEASE SEND MY MONEY 51 TIME COMPLAIN BY ME BUT DON’T ANSWER BY PAYTM SEND COMPLAIN NUMBER

  2. I AM ALREDY YOUR USER SINCE 6 MONTHS AND HAVE TRANSFERRED AMOUNT FROM MY BANK TO PAYTM ACCOUNT. LAST TIME, WHEN I ASKED FOR TRANSFER, YOU ARE ASKING THE PASSWORD WHICH I DONT
    REMEMBER. YOU HAD NOT ASKED THIS BEFORE BUT SUDDENLY I CANT REMBER AND WHEN I ASKED THE SAME TO BE CHANGED, EVERY TIME IT IS SSAYING THAT YOU CAN DO IT ONLY AFTER 20 HOURS,18 HOURS,
    8 HOURS AND SO ON. I AM NOT ABLE TO GET A SINGLE PERSON ON PHOSNE TO TALK TO ABOUT THIS.
    THIS IS A VERY BAD SITUATIONIN YOUR CUSTOMER CARE AND MANY WIL LBE FORCED TO DISCONTINUE WITH YOU/ WILL YOU REPLY AS I AM STRUGGLING SINCE 3 DAYS. CHANDRAN. 9037863693

  3. I have to some amount of money to SBI.I have complete everything. But finally it shows this type of message.
    Please add bank account to this UPI address by visiting profile section.please suggeste me what shall I do.

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