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.
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 have 147 Million Wallet Users. It’s a huge number, so people are using their services. Many paytm users have money on your accounts and want to transfer it to the bank accounts. Though any user with minimum 100 Rupees balance in their account can transfer money to bank, there are some things which you should know.
Recommended Read: Paytm Customer Care Toll-Free Number Contact Details.
- Currently, the monthly transfer limit is Rs.25000/month for non-KYC users and Rs.1,00,000/month for Paytm VIP customer (the people who have submitted their KYC).
- Though you can send Rs.25K/1Lac 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 (Non-KYC user) paytm user you will have to bear 4% charge on it 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 on 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.
How to Transfer Money From Paytm Wallet To Bank Account
Well, i have mentioned all the things that you need to know already. Know 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 already don’t have it installed.
Step 2: Now open the app you will see something like this. You have to click on the Passbook link.
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 login button to login to your paytm account.
Step 4: After you log in, you will see something like this (check the screenshot). Now click on “Send money to bank” link.
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.
Step 6: Now file te form with Account holder name, account number, the money you want to send and 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“.
Also Check: How to Delete Your PayTM Account.
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.