Learn how to transfer money from Paytm to bank account
- Today, you can send money and make payments through digital wallet apps like Paytm.
- Paytm enables you to transfer funds using your mobile number and linked bank account.
- You can transfer funds from your Paytm wallet to bank accounts to make payments.
- Linking your bank account with Paytm is a simple and straightforward process.
- You can also recharge your Paytm wallet via fund transfers through your linked bank account.
If you wish to transfer money, you can utilise mediums like NEFT, IMPS, RTGS and other online bank transfer avenues. However, you need internet and mobile banking to conduct such payments. Furthermore, such payment options are ideal for medium to high amount transactions. But today, you can send the smallest amount of money to anyone with digital wallets and payment apps like Paytm UPI without relying on internet banking. To learn more about how to transfer money from Paytm to bank account, continue reading.
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How to Transfer Money from Paytm Wallet to Bank Account?
To send money from your Paytm wallet to a bank account, you need to download the Paytm mobile app from the Google Play Store or iOS Apple App store. Once you download the app, you can initiate a ‘bank transfer’ from your Paytm app to a bank account by following these steps:
- Open the Paytm app and tap on the ‘Bank Transfer’ icon.
- Link your bank account with Paytm by choosing the bank account with the same registered mobile number (RMN) as the one used for Paytm.
- Set up your MPIN using your debit card.
- Enter the details of the account holder, such as your name, account number, IFSC code, etc.
- Enter the fund transfer amount.
The transaction will be completed, and your bank will send you an alert.
How to Link Bank Account with Paytm?
Follow the steps given below to link your bank account with Paytm:
- Pick a bank account linked to the same mobile number used to log in to Paytm.
- On the home screen, click the ‘bank transfer’ icon.
- Choose the corresponding bank account linked to your Paytm RMN.
- Review all the accounts held with that bank and choose your preferred account.
- Wait for a few seconds while the account is linked and set up your secure MPIN for authentication.
You can repeat the above steps to link all your accounts to Paytm.
How to Transfer Money from Bank Account to Paytm?
Follow the steps given below to add money to your Paytm wallet from your bank account.
- Tap on the ‘Add Money’ icon on the home screen of the app.
- Choose to add money via Debit/Credit card, UPI, or Net Banking.
- Provide your payment details on the secure payment page sent to you.
- Enter your credit/debit card number or choose a saved card and enter the CVV.
- Upon entering the details, you will be redirected to Paytm, and you can add funds into your Paytm wallet.
Now that you know how to add bank account in Paytm, you can easily use the app via the DBS Bank Savings Account. You can open the DBS Bank Savings Account remotely by downloading the DBS Bank mobile app. Enjoy exclusive banking and investment facilities with DBS Bank.
With the DBS Bank app, you can open a new savings account in a few minutes! Download the app to get started.
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*Disclaimer: This article is for information purposes only. We recommend you get in touch with your income tax advisor or CA for expert advice.