Saturday, 7 January 2017

How to Transfer Money from Paytm Wallet to Any Bank


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Paytm digital wallet has evolved as a very strong competitor among other existing electronic wallet apps in India. Paytm is one of the top 10 mobile wallet apps in India. It provides a quickest way to transfer funds directly from your wallet to any bank. If you have added money to your Paytm app then you can transfer it to your loved ones or any third person by accessing your e-wallet app. Paytm charges you a very reasonable fee for that, say 1 percent (approx.) of amount to be transfer.
Currently, Paytm allows you transfer amount between ₹100 to  ₹5000 but you can increase your daily transfer limits by upgrading your account (if needed).
It’s very easy to transfer money from this app to any bank.  To transfer funds, you would need beneficiary’s bank details such as bank name and account number, bank IFSC code etc. You would need to add money to your account first if you have not appropriate balance into your account. You can click here first to know ‘How to add money to Paytm wallet using ATM Card/Internet Banking?’ 
If you have all required details then just follow the steps given below to send money from your Paytm wallet to bank account.
Step 1: Access your Paytm app and tap on ‘passbook’.
Paytm send money to bank account
Step 2: In Passbook page, you’ll see ‘send money to bank’ link (Earlier this link used to appear under ‘pay or send’ link) underneath your available balance. Just tap on it.
Note: In updated Paytm apps ‘send money to bank’ link appears in passbook. If you’re unable to find it under passbook then try to find it in ‘pay or send’.
Step 3: In the next page, you will be asked to fill out a form.
Note: You can tap on ‘find IFSC’ to search payee’s bank IFSC code.
Paytm send money to bank
Step 4: Let me help you fill out the form; if you’re facing any difficulty. Just follow the instructions given below to complete the form:
  • Enter the amount that you want to transfer to payee. 
  • In the next column, enter the name of the beneficiary or payee.
  • Enter bank account number of the beneficiary.
  • Next, enter IFSC code of the bank (Payee’s bank IFSC code).
  • Last field is an optional field, therefore, you may let it blank. However, if you wish you can enter a purpose of transfer. 
  • In the end, tap on send button to proceed.
Step 5: In the next step, you will be asked to enter one time password (OTP) that you will receive on your registered mobile number (Registered with Paytm). After entering the OTP, tap on ‘verify’.
Paytm send money
Step 6: That’s it. You will be able to read a successful transaction message along with a transaction ID.

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