How To Transfer Money From Paytm Wallet To Bank: 6 Easy Steps

*This is in partnership with BQ Prime Brand Studio

Paytm is loved for its wallet feature because of the ease of use that India’s top payments app offers. The wallet is one of the most used features of the Paytm app. The Paytm e-wallet enhances your digital payment experience because it is truly one click, super-fast and super convenient.

What's more, the Paytm wallet doesn't just help you pay for everything from a snack to an instant online payment via Paytm integration on a shopping app, or travelling on a metro through Paytm Wallet Transit cards, without standing in a long queue for a regular ticket. You can also easily transfer money from your Paytm wallet to that of other Paytm users.

But did you know that Paytm allows you to transfer money from your Paytm wallet to other bank accounts at zero charges? This means that whether it is sending money either to your own account from the Paytm wallet or to another recipient’s bank account, even if the recipient is not a Paytm user, the speedy, convenient, and secure Paytm wallet experience is available for you and for free. This is especially convenient when the recipient doesn’t use UPI and requests you to transfer only to a bank account—for instance making a school bus fee payment for your children.

No hidden charges or surprises. Unlike IMPS, which also promises instant payments, and which is used through bank apps or net banking but could result in charges imposed in addition to tax for using the feature, transferring money from Paytm to any bank is completely free.

Transfer money from Paytm to any bank in easy steps

1. Open the Paytm application on your smartphone and scroll down to the ‘My Paytm’ section and click on ‘Paytm Wallet.’

2. You will see an option to ‘Transfer to Bank.’ You can pay directly to bank accounts (either yours or others) when you opt to ‘Transfer to Bank.’

3. Add the amount you wish to transfer. This can be between Rs. 20 and up to Rs. 25,000.

4. Then add the bank account you want to send money to. When you add a new account, you will have to enter the account number, IFSC, and the account holder’s name.

5. If you have transferred money from Paytm to the bank account previously, you can simply choose it from saved accounts as well.

6. You can also enter the mobile number or choose from contacts. If the recipient has a UPI-registered number, you can transfer money either from your Paytm wallet or your bank account. Whatever you choose, you can transfer money from Paytm instantly, and for free.

To transfer money from the Paytm wallet, all you need to ensure is that you have enough 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 your wallet balance goes below a certain threshold (that you decide). The wallet balance is displayed right on top of the app.

This feature can make money transfers simple in so many cases. For instance, if your parents don’t use smartphones and UPI but you want to transfer money from Paytm to their bank account for free, just fire up your Paytm app and get it done instantly.