Do you want transfer money from Paytm account to bank account without charges? Have you earned any extra cashback from Paytm on your recent purchase and now you want to transfer it to your Bank account.Here is a rick to Transfer money from Paytm to your Bank account free of charges.
In the starting Paytm was offering this service free to all its users. User was able to transfer money from Paytm to Bank free of cost but later on due to extreme demand for this service Paytm started charging money for this as in the end Paytm has to some money for this instant transfer service. May be like all companies Paytm was offering this at no cost was a promotional activity.
There is no doubt that Paytm is the most use popular online wallet app in India. It is visible on Google play as it has more than 100 million plus downloads. Since demonetization, it has become the first choice for most of the Indians to use it as payment method. Paytm is accepted almost everywhere and it has good cashback offer too which user likes the most. User can get cashback on almost everything from mobile recharge to buying smartphone. Even if user is paying for his/her Tea at small Teashop, user is eligible to get cashback. This feature works as the USP for Paytm and the reason everyone loves Paytm on the top of all other online Wallet apps.
The question still goes on “How to transfer money from Paytm to Bank? Although money available in your Paytm account is never wasted. User can use it on various services available on Patym website and mobile app and other websites, which uses Paytm as their Payment method.
Good to know Information before Transfer money from Paytm to Bank
- User needs a KYC verified Paytm account. To do the KYC simply share your Adhaar card number with Paytm. You can check out the article “How to do KYC in Paytm?”
- User can only transfer money from Paytm mobile app and not from Paytm website so if you are trying to transfer money from Paytm to Bank you should have first download and install Paytm app in your smartphone.
- User can send amount between Rs100 to Rs25000 at a time.
- Transfer charges of 4% applicable on all transfers to a bank account. (Do not worry; Trick is at bottom of the page to transfer money from Paytm to Bank without charges.)
- Last and most important, user should have some money in their Paytm wallet for transfer. Just kidding.
Steps to Transfer money from Paytm to Bank account:
- Download and Open Paytm app.
- Click on “Passbook”
- Select “Paytm Wallet”
- Select “Send money to Bank account”
- Click on “Transfer”
- Enter the details (Account number, Account holder’s name, IFSC code, Amount, Description)
- Click on “Proceed”
- Your Money has been transferred successfully.
You can check the Steps to transfer money suggested by Paytm here
Here the Trick you can use to avoid the 4% charges. Paytm does not levies any charges on the transfer money from Paytm to bank account in case of Merchants. If you know someone who has active Paytm Merchants account, then he or she can help you in money transfer from Paytm to bank without charge. You just need to add money to your Paytm account and transfer it to Merchant’s Paytm account. Then Merchant can transfer the money to your bank account. It is that simple. Now enjoy this trick and do let us know about your experience.
Paytm Customer Care/Help line number (Just in case):
|Bank, Wallet and Payments||0120-4456-456|
|Movies and Events Tickets||0120-4728-728|
|Paytm Mall Shopping Orders||0120-4606060|
|Paytm Travel Tickets and Forex||0120-4880-880|
Note: Customer care help line is available in both Hindi and English.
There are other wallets too which offer transfer money service at low charges like Payzapp, Mobikwik and more.
Payzapp: A complete payment solution mobile app from HDFC Bank. User can send money just like Paytm wallet. User can pay his/her mobile bill, Grocery, book flights, movies and more. User need to simply link his/her bank account to Payzapp and start using its services.
Payzapp only charges 2.36% when transfer money from Payzapp account to your back account which is much less than Paytm. However, Money transfer from Paytm is instant as it uses IMPS service where as Payzapp uses NEFT that will take some time to transfer your money to your bank account.
Again, you should have KYC verified Payzapp account to transfer money to your bank account.