How to transfer money from Paytm Wallet to Bank Account?
HOW TO TRANSFER MONEY FROM PAYTM WALLET TO BANK ACCOUNT
One of the frequently asked questions on the Paytm App is How to transfer money from Paytm Wallet to Bank Account. Before this article solves the query of transferring money from Paytm wallet to bank account, let us understand how the Paytm app works in making the transaction of money from wallet to wallet or wallet to bank account in some easy steps!
PAYTM AND IT’S DIFFERENT SERVICES
Paytm is coming out as one of the leading sources of online transactions. The inbuilt wallet service in this app provides the Paytm users with the option to make easy transactions as one Paytm user can simply send money to another Paytm user by scanning or by entering the mobile number.
- SCAN AND PAY
The Paytm user can simply scan the QR Code provided by other Paytm user and then enter the amount to be paid. These two simple steps are to be followed to make the payment from one Paytm account to others.
- SEND MONEY TO ANYONE
This Paytm option provides various services, it just not sends money to restricted Paytm users but also bank accounts! The UPI option here sends money from your bank personal account which is linked with your Paytm account to various other sources of payment.
Money can be sent to:
- TO YOUR OWN ACCOUNT
- UPI SCAN QR
- TO SOME OTHER BANK ACCOUNT
- TO OTHER PAYTM WALLET BY ENTERING THE MOBILE NUMBER
Now, let us answer the question: HOW TO TRANSFER MONEY FROM PAYTM WALLET TO BANK ACCOUNT
Follow these simple steps to transfer your money from Paytm to your bank account
1. Open the Paytm app & Tap on ‘Passbook’
2. Select ‘Paytm Wallet’
3. Select ‘Send Money to Bank’
4. Tap ‘Transfer’
5. Enter the amount & bank details
6. Confirm the transfer
7. It’s done! Money transferred successfully
- KYC REQUIRED
For sending the money from one Paytm Wallet to others, the process of KYC needs to be completed. One can open their own Paytm bank account too if the process of KYC is already done.
Step by step instructions to finish KYC measure through the Paytm application
- Sign in to the Paytm App.
- Tap on the ‘Nearby’ choice.
- Tap on ‘Update Account’ to continue.
- Select the desired location from the list of areas provided and visit the spot to finish your KYC.
- Clients should convey their Aadhar card and Pan card as ID Proof.