Looking to transfer money from Paytm wallet to bank account? Here’s how to do it in five easy steps

The average number of monthly users transacting on Payment increased rapidly. Since March 2022, the
figure stood at 69.5 million for the first two months of the year. This shows a growth of 41% compared to last year!

Payments Wallet has played a monumental role in this growth. It’s a safe and secure way for people to transfer money to other Paytm wallets or directly to their bank accounts. Not only that, a Paytm user can also transfer money to their bank account through the
PayTM Wallet — all at zero cost!

Let’s understand how you can do it too.

How to transfer money from Paytm Wallet to someone’s bank account

Transferring money to someone’s bank account is super easy and, most importantly, completely free! Just follow the steps below:

1. Open the Paytm app on your phone
2. Scroll to ‘My payment‘ on the app’s home screen
3. Select ‘Paytm Wallet’ from the options present
4. Choose the “Bank Transfer” option from the four options available
5. Now enter the amount you want to transfer from your wallet to the bank account. This amount can vary from Rs. 20 to Rs. 25,000
6. Add the account details of the bank you want to transfer money to. If you have already transferred the amount to the said bank, you can simply click on the registered account details
7. To add a new bank account, you must enter the recipient’s bank account number, IFSC and name
8. Once this information has been entered, click on ‘Continue’
9. Press ‘Confirm’

Just like that, you’re done, that too completely free!

How to transfer money from Paytm Wallet to your own bank account

It’s even easier to transfer your unused wallet balance return to the bank free of charge.

1. Follow steps 1-5 listed above
2. Enter the amount and validate

You have just transferred money to your account free of charge!

How to transfer money from Paytm Wallet to someone’s bank account via QR code

The QR code in the PayTM Wallet makes the task of transferring money to the bank quick and hassle-free. You can transfer money for free by following the steps below:

1. Click on the “Pay” option on the home screen of the app
2. Scan the recipient’s UPI QR code
3. Make payment to the recipient’s bank account via your Paytm wallet

Similarly, money can be transferred from your Paytm wallet to someone else’s bank account for free by manually entering the recipient’s mobile phone number or selecting their contact from your mobile’s phone book.

Free bank transfer with Paytm Wallet

Paytm Wallet can be used for various reasons. Whether you need to pay bills or recharge your mobile phone or book plane tickets or even shop online, Paytm Wallet’s many offers meet your needs – with no hidden costs for you or the recipient!

Because Paytm charges nothing to transfer money to the bank account, it has become people’s number one choice for online transfers and payments. It is important to note that in order to be able to transfer money from the Paytm wallet to the bank account, the wallet must have a certain balance. After that, the process is simple and effortless.

This RBI approved wallet is fully secure and very convenient to use. And with its fee-free money transfer to bank feature, it has become even more lucrative for people!

Disclaimer: This article is generated and published by the Insider Studios crew. You can contact them on [email protected]]