How to Transfer Money From Paytm to Bank without Charges?

Sameer Content Writer

Have you faced a situation where you were expecting a payment in your bank account but the person instead transferred the money to your Paytm Wallet?

If the amount is small, you can keep it in your wallet and use the money for recharge, bill payment, shopping etc. 

But for a bigger amount, you would rather transfer money from your Paytm wallet to bank account. Now, you would be wondering how to transfer money from Paytm wallet to bank account?

Or what are the charges for Paytm wallet to bank account transfer? Can I transfer money from Paytm wallet to bank account for free?

No need to worry; answers to all the questions are just a few scrolls away. Keep reading for complete details on the process, charges and eligibility for money transfer from wallet to bank account. 

paytm-to-bank-account

 

Paytm to Bank Transfer Charges 2022

The confusion about how to send money from Paytm wallet to a Bank account remains for some users.

Although the money kept in your Paytm Wallet is never wasted, you can use it for various online and offline transactions such as local Kirana stores, bus tickets, metro recharge, online shopping and of course, bus and flight tickets.

If you have linked a bank account to Paytm, you can do free transactions with BHIM UPI.

In fact, you can even earn cashback by transferring money through Paytm UPI offers. But that is bank-to-bank money transfer here; we are talking of wallet-to-bank transfer.

Let us start with Paytm for the bank transfer process.

First, you should know that bank transfer is only available on Paytm App. Many people search for this option on the website, but it is not available on the desktop.

Although you can add a Paytm balance on the website but for transfer, you need to use the mobile app.

Note: To transfer money from Paytm to Bank account, you need a KYC verified account. You can get instant KYC by linking your Aadhaar card to Paytm account.

Steps to Send Paytm Money to Bank Account

  • Open the Paytm app.

  • Tap on 'Passbook'.

  • Select 'Paytm Wallet'.

  • Select 'Send Money To Bank'.

  • Tap 'Transfer'.

  • Enter the amount & bank details (Account No. IFSC code etc.).

  • Confirm the transfer.

  • Money is transferred successfully.

Paytm Wallet to Bank Transfer Free

Paytm is allowing wallet-to-bank transfers to all users with full KYC. So you can transfer money from your Paytm wallet to your bank account for free. 

However, you need to complete full KYC to become eligible for it. You should check your KYC status if you cannot send money to a bank account. 

Once your KYC is done, follow the steps below to transfer money. 

  • Open the paytm app

  • Go to the My Paytm Section on the app

  • Select Paytm Wallet 

  • Choose the "Transfer to Bank" option

  • Now, enter the amount you want to transfer

  • Add the bank account number and IFSC code of the recipient bank account

  • Click on Proceed 

  • Tap on confirm

Things to know before You Transfer Paytm Wallet balance to Bank Account

  • You can send any amount between Rs. 100 to Rs. 25,000

  • The minimum amount you can transfer from Paytm wallet to a bank account is Rs. 100

  • Transfer charges of 5% applicable on all transfers to a bank account

  • You need Account No, IFSC code, and account holder's name

Trick- You can try this trick. First, send Paytm wallet balance to a business account using Scan QR Code. Then ask the business account holder to transfer the money to your bank account without charges. To open a Paytm Business account you only need to provide your PAN card number. 

Transfer Money to Bank Account and Earn Up to Rs 1250 

Send money from Paytm Wallet to the bank account and earn up to Rs. 250 cashback. The user has to transfer a minimum of Rs. 100 to qualify for the offer. The offer is for select users to send money from wallet to bank account. Complete 5 transactions within 30 days to earn up to Rs. 1250 cashback. 

  • Minimum Transaction - Rs. 100

  • Get up to Rs. 250 on each transfer

  • Earn up to Rs. 1250 during the offer duration 

Recently, Paytm Payments Bank was launched as well. You can open a savings account with Paytm and earn interest of up to 7 per cent. Paytm savings account comes with a free digital debit card as well.

Paytm debit card offers discounts and cashback on online transactions. So, if you have a Paytm Savings Account, you can transfer your wallet money to that account free of cost. And then, you can transfer from your Paytm savings account to any other bank account for free.

Paytm Bank Transfer cashback can be availed with UPI. Check Paytm send money cashback offer for today to earn on your transactions. Paytm UPI Offers up to Rs 5,000 cashback to users on money transfer.

Frequently Asked Questions

How can I transfer money from Paytm to my bank account?

  • Open the Paytm app

  • Tap the Passbook icon.

  • Select the Send Money to Bank option.

  • Tap on Transfer.

  • Enter the amount, account holder's name, bank account number, and IFSC code.

  • Hit the Send button.

How much money we can transfer from Paytm to bank?

You can transfer up to Rs.20,000 per month from Paytm to your Bank Account. This limit applies to the minimum KYC (Rs.20,000) wallet, while Full KYC (Rs.1 lakh) wallet users can transfer up to Rs. 25,000 per month. The minimum amount to send to the bank is Rs 100.

Does Paytm charge extra for bank transfer?

Paytm doesn't charge any fee for transferring money from your bank account to another bank account. However, if you transfer money from your Paytm wallet to another bank account, the company will charge a fee of 5%.

How can I increase my Paytm limit to 1 lakh?

As a Paytm KYC user, you can accept up to Rs. 1 lakh monthly. You can transfer to the bank/wallet Rs.10,000 without adding a beneficiary and Rs. 25000 by adding a beneficiary.

Can we send money through Paytm website?

No, the option is available only on the Paytm app. 

About Author

Sameer

Content Writer

I’m an engineer that accidentally fell in love with words. I write about things that I like and things that I don’t, mainly in the online shopping sphere.