Transfer money anytime, anywhere using your Paytm app

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We all use our bank accounts to fund our digital wallets. But did you know that you can transfer money back from your Paytm wallet to your own bank account, or even to the bank account of a friend or acquaintance even if that person is not a Paytm user? ? What’s even better is that all of these transfers are free of charge!

Transferring money to a bank account, whether yours or someone else’s using your Paytm wallet, is simple.

  • First, open Paytm app on your mobile and scroll down to ‘My Paytm’ section and click on ‘Paytm Wallet’
  • When you open your Paytm wallet, you will see options – “Pay”, “Transfer to bank”, “Send gift certificate” and “Add money automatically’. You can select the option that suits your purpose
  • To pay directly to bank accounts (yours or others), simply select the ‘Transfer to the bank‘ option
  • Enter the amount of money you wish to transfer. It can go anywhere between 20 and 25,000. This is possible after performing a full KYC

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Details of Paytm details.
  • Add the bank account you want to send money to. If you have already sent money from your wallet to the bank account, you can also choose from registered accounts.
  • When you add a new account, you will need to enter the account number, IFSC code and name of the account holder at the time of the first transfer. Such transfers can be made after a full KYC
  • When you make the payment, you can send money from your linked bank account as well as your Paytm wallet. You can also enter the mobile phone number or choose from contacts. If they are numbers registered with UPI, you can send money from your account or wallet.
  • If you choose to send money from your Paytm wallet, make sure the wallet balance is sufficient. You can add money to your wallet via UPI, credit/debit cards and net banking. You can also set ‘Automatic Add Money’, where you can set the amount to be added to the wallet whenever the wallet balance drops below a certain amount (which you decide).
  • Checking your wallet balance is simple. It appears at the top of the screen when you open your PayTM Wallet

About Paytm Wallet

Paytm Wallet is a safe and secure RBI approved wallet that you can use to top up, pay utility bills, shop online or pay friends/vendors. The Paytm wallet now comes with a Transit card that allows you to pay anywhere online. You can transfer money from a Paytm wallet to another Paytm wallet as well as from a wallet to a bank account for free. For UPI payments, no KYC (Know Your Customer) verification is required, but it is required for Paytm wallet according to RBI standards. With minimum KYC users can add up to Rs. 10,000 and with full KYC users can add up to Rs. 1,000,000.

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