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Transfer money anytime, anywhere using your Paytm app

Transferring money to a bank account, whether your own or someone else’s using your Paytm wallet is simple.Premium
Transferring money to a bank account, whether your own or someone else’s using your Paytm wallet is simple.

Paytm users can use Paytm UPI for direct inter-bank money transfers and Paytm e-wallet to enhance the overall digital payment experience. With this, you can seamlessly transfer funds to your own account from the Paytm wallet or to a recipient’s bank account, even if the recipient is not a Paytm user

We all use our bank accounts to fund our digital wallets. But did you know that you can back-transfer money from your Paytm wallet to your own bank account, or even into a bank account of a friend or acquaintance even if that person is not a Paytm user? What’s even better is that all such transfers happen at zero charges!

Transferring money to a bank account, whether your own or someone else’s using your Paytm wallet is simple.

  • First, open the Paytm application on your mobile and scroll down to the ‘My Paytm’ section and click on ‘Paytm Wallet’
  • As you open your Paytm Wallet, you will see the options – ‘Pay’, ‘Transfer to Bank’, ‘Send a Gift Voucher’, and ‘Automatic Add Money’. You can select the option that suits your purpose
  • To pay directly to the bank accounts (either yours or others), simply select the ‘Transfer to Bank’ option
  • Key in the amount of money you wish to transfer. This can range anywhere between 20 and 25,000. This is possible after a full KYC is carried out

Paytm Particulars Details.
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Paytm Particulars Details.

  • Add the bank account you want to send money to. If you have sent money from your wallet to the bank account previously, you can choose from the saved accounts as well
  • When you add a new account, you will have to enter the account number, IFSC Code, and the account holder’s name at the time of making the first transfer. Such transfers can be made after a full KYC is done
  • When you make the payment, you can send money both from your linked bank account as well as your Paytm wallet. You can also enter the mobile number or choose from contacts. If they are UPI-registered numbers, you can send money either from your account or your wallet
  • If you are choosing to send money from your Paytm wallet, make sure that there is sufficient wallet balance. You can add money to your wallet through UPI, credit/ debit cards, and net banking. You can also set ‘Automatic Add Money’, where you can fix the amount to be added to the wallet each time the wallet balance goes below a certain amount (that you decide).
  • Checking your wallet balance is simple. It is displayed on top of the screen when you open your Paytm wallet

About Paytm wallet

Paytm wallet is an RBI-approved safe and secure wallet that you can use to recharge, pay utility bills, shop online, or pay to friends/vendors. Paytm wallet now comes with a Transit card that allows you to pay anywhere online. You can transfer money from a Paytm wallet to another Paytm wallet as well as from wallet to bank account for free. For UPI payments, there is no KYC (Know Your Customer) verification required but it is needed for Paytm wallet as per the RBI norms. With minimum KYC, users can add up to Rs. 10,000 and with full KYC users can add an amount of up to Rs. 1 lakh.

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