How To Transfer Money To Bank From Paytm Wallet

Wed, Nov 10, 2021 | Updated 12.07AM IST

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Can I transfer money from Paytm to my bank account?

Can I transfer money from Paytm to my bank account?

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Can I transfer money from Paytm to my bank account?

Deeksha Somani

Updated: Jul 5, 2021, 11:15AM IST

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Can I transfer money from Paytm to my bank account

India's one of the most popular online payments apps, Paytm lets its users make payments from bank accounts, debit and credit cards, digital payments, and other sources without any hassle. Users can easily transfer money instantly to anyone's bank account using the Paytm wallet. Listed down are the steps that can be followed:

Open the Paytm app on your mobile
Tap on the option 'Passbook' and further select the option 'Paytm Wallet'
Now, select 'Send money from wallet to bank'
Enter the amount that you need to transfer
Enter the bank account number, IFSC and account holder's name. Further, click on 'Proceed'
A 5% charge is levied for customers and you will see the charges before the bank transfer is processed

What is the total amount that I can transfer from Paytm Wallet to the bank?
If you are a full KYC customer then you can transfer up to Rs 1 lakh in a calendar month. If you wish to send Rs 10,000 to someone then you need to add the receiver as a beneficiary before processing the transaction.
Is there any charge for transferring money from Paytm to a bank account?
Paytm, the online payment app, lets you send and receive money online through different payment modes. Zero charge is levied if you transfer money from one bank account to another bank account. However, a 5% convenience fee is charged for transferring money from Paytm wallet to a bank account.
How can I receive money directly to my bank account from Paytm?
Listed down are the steps that you can follow:
- Open the Paytm app on your smartphone
- Tap on the option 'Passbook' and further select 'Paytm Wallet'
- Select the option 'Send Money To Bank' and tap 'Transfer'
- Enter the amount & bank details like IFSC and account holder's name
- Select 'Transfer' and it's done
Can I use Paytm without a bank account?
It is not mandatory to open an account with Paytm Payments Bank to use Paytm Wallet.
What is the minimum KYC in Paytm?
According to RBI guidelines, minimum KYC is valid for 24 months. For completion of minimum KYC, you are required to provide your Name and Unique Identification Number of Passport, Driving License, NREGA Job Card or Voter ID. With minimum KYC, you can have partial access to benefits of Paytm Wallet.
Can I use two bank accounts in Paytm?
You can use multiple bank accounts on Paytm BHIM UPI ID.

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