We have discussed How to transfer money from FreeCharge wallet to bank account, today I am going to explain about How to transfer money from Paytm wallet to bank accounts. As we all know due to demonetization of Rs. 500 and Rs. 1000 notes everyone starting paying through India’s top mobile wallets applications like Paytm, FreeCharge, and MobiKwik. The Paytm has become the digital payments app for many people in India. Due to the demonetization effect and from vegetable vendors to grocery stores, everyone is joining the Paytm cashless payments platform.
But most of them have doubt that how they can transfer Paytm cash to bank accounts so that they can withdraw the money they earned. For such people who want to transfer Paytm money to bank accounts just go through the steps below.
Easy way to transfer Paytm money to bank account
To transfer money from your Paytm wallet to a bank account, you must need the name, account number, and IFSC code of the bank. But using Paytm you can transfer up to Rs. 20,000. If you need to transfer more than the limit, then you have to contact with Paytm to get your KYC done.
First and foremost thing you have to find a Paytm KYC (Know your Customer) center near to you. Just provide the relevant ID proofs like Aadhar card, passport, voter ID card, driving license, or NREGA job card. Then request a visit at your address in case if you want to transfer more than Rs.50,000 then you must submit your PAN card details, if not it’s not necessary. If everything is okay, then you can do unlimited transfers.
You can even request a visit from Paytm agents by selecting wallet upgrade option. The wallet upgrade option you can find it in your wallet option. Just beside send money option.To get KYC approval it takes up to 48 hours, but there is a chance that you can make it soon by providing Aadhar card as proof of identity as the biometric verification. By this, you can make the thing done instantly.
How to transfer money from Paytm wallet to any bank account using Paytm app
- You need to open the Paytm app on your smartphone and click on the Passbook icon that you can see.
- Here, you need to select the Send Money to Bank option with one tap.
- Now Tap on Transfer option
- Enter the amount that you want to transfer, enter account holder’s name, you must provide bank account number, and finally IFSC code
Note: Make sure to cross check that is everything you entered is correct
- If everything is correct then just hit the Send button
How to transfer money from Paytm Wallet to bank account using Paytm site
- All you need to do is just visit official site of Paytm and complete your sign in process
- Take cursor over your name at the top-right of the screen and click on Paytm Wallet option
- It opens a window showing Transfer to Bank option, just click and enter details to send money
- Once you are entered all correct details hit the Send Money button
- That’s it you are done with your transaction
If you are a new Paytm user and if you don’t have KYC, then you have to wait for 3days to transfer money from your Paytm Wallet to the bank account. If you want to make transactions immediately then you must have KYC done. To use KYC features I have mentioned in above lines.
You can transfer money from your Paytm wallet to bank accounts for FREE until December 31, 2016, and that too only for merchants who have done KYC. The other people, as well as merchants, who are not, completed the KYC process, have to pay a 1% fee to Paytm. You can send a minimum of One hundred to your bank account using this service. Every Paytm users can transfer up to Rs. 5,000 at a time and RS. 25,000 per month is the limit. If you are a merchant, you can transfer up to Rs. 50,000 and with the limit up to Rs. 1 lakh. But you must complete the KYC Process.
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