Imagine trying to transfer your money from your e-wallet to your bank account and it gets hit with a 2% tax. It’s money not well spent! Thanks to Paytm, you can now transfer your money from your Paytm Wallet to your bank account for free.
While UPI is a perfectly viable option for you, e-wallets, like the ones from Paytm, simply offer a lot more features than most users miss. If you too are using your e-wallet for various cashbacks, offers, scratch cards, rewards, discounts, etc., we really don’t blame you. The problem arises when you need to migrate that money to your bank account. Many online payment gateways limit your transfers by charging hefty fees, up to 3.95%.
However, he is possible to transfer money from your online wallet to your bank account free of charge. With Paytm Wallet, transfers are made free of charge, whether from your wallet to your bank account or to those of other users. This works even if the recipient is not a Paytm user. How do you ask? Here’s everything you need to know about free transfers from your Paytm wallet to your bank account.
How to transfer money from your Paytm wallet to a bank account for free?
Follow these steps to easily transfer money from your wallet to your bank account at no additional cost –
Scroll down to the “My Paytm” section on the Paytm app and click on “Paytm Wallet”.
To pay directly to bank accounts (either your own or others) opt for ‘Transfer to the bank‘.
You can make transfers from your Paytm wallet free of charge between Rs. 25 and Rupees. 25,000. Add the bank account you want to send money to or choose from saved bank accounts.
You can also tap the “Pay” option and scan the recipient’s UPI QR code. Send the money via Paytm wallet.
Note that you must have a wallet balance to send money from it. You can add money to your wallet via UPI, credit/debit cards and net banking. You can also set “Automatically add money” to automate the wallet top-up process whenever your wallet drops below a certain amount.
Your bank transfers from your e-wallet should not be limited by high fees. Start transferring from your Paytm wallet to your bank account for free.