Have you received cashback into your paytm wallet account and want to know how to transfer money from paytm wallet to bank account, then you are at the right place. With this blog post, we will tell you the step by step process.
Paytm after the Demonetisation become the most popular payment app. One of the reasons for its popularity is the Cashback offer it provides to users, and you get cashback on everything from paying mobile bills to flight and bus ticket booking with the coupon codes. And the cashback you earn gets accumulated as Paytm cash into its wallet, which you can transfer it to your bank account later. Paytm wallet cash to Bank account transfer is quite an easy process, and it hardly takes 5 minutes. However, most often, users don’t know how to avail of this facility. So to ease out of this pain, we have collated the steps here.
Paytm Wallet to Bank account step by step process:–
While the process to get transfer money from Paytm wallet to Bank account is not as tough as it seems, but many users put their queries on different portals to know about it.
Although Money kept in Paytm Wallet is not going to waste, it can be used for any online and offline shopping, you can pay your Mobile bills and for local Kirana store. Also, sometimes, on these transactions, you get the advantage to earn cashback, thereby you can save some amount from your bills every month.
Infact, when you do pay for Electricity Bills from Paytm Wallet, you may get the cashback up to 100 percent. However, it will have some limits, but something is good than nothing!
Now you know the other benefits, let’s move forward and know how to Transfer Money from Paytm Wallet to Bank account. So, first, you should know this option is available on the mobile app; you can not transfer money to the bank account from the Desktop. Many people search this option on Desktop but it is available on App version only. However, you can add the balance into Paytm Wallet, but to avail transfer to the bank account option, you have to go by mobile app only.
Steps to Send Paytm Money from wallet to Bank account
Step 1) Open the Paytm app.
Step 2) Tap on Passbook
Step 3) Then select “Send Money to Bank”
Step 4) Tap on Transfer
Step 5) Enter the Amount and Bank account details (Account no, IFSC Code etc.)
Step 6) Confirm the Transfer
Key things to know before initiating a transfer of Paytm wallet cash to Bank account
- You can send Paytm Money from its wallet to Bank account if your account are fully KYC verified
- The minimum amount you can send from Paytm Wallet to Bank account is Rs 100
- While sending your Paytm Money to Bank account, it will be charged, it would be 4% on the transferred amount.
- You will be required Account holder Name, IFSC Code, Bank account number while doing the transfer.
So, the above mentioned are the steps given to assist you in how could you start initiating transfer money from Paytm wallet to Bank account. Hope it will help you.
If you have any doubt, you can comment below!