How to Transfer Paytm Cash to Bank Account

28 Sep 2015    09:49 am

How to Transfer Paytm Cash to Bank Account

We all know that Paytm is one of the largest mobile commerce platforms in India. Paytm is the most popular mobile e-commerce platform that offers mobile recharge and also utility bill payments. It is the best place for most of the consumers that provide a complete marketplace on its mobile apps. Currently, Paytm has more than 100mn registered users. You can do mobile recharges, several bill payments and many more. You can use this Paytm app on your smartphones as it supports various platforms such as Apple iOS, Android, Windows, Blackberry and Opera.

The main reason behind the rapid growth of Paytm as India’s popular mobile commerce platform is that it offers cash back option. It provides cashback offer on particular products so that you can save your money this way. Paytm has introduced a new feature of transferring the Paytm wallet money directly to your bank account.

Easy Technique to Transfer Paytm Cash to Bank Account

We are providing you two simple tricks in order to transfer Paytm Cash to your bank account. Paytm has introduced Immediate Payment Service (IMPS) on its platform, which means that Paytm users can utilize their mobile wallets to transfer money into any of your bank accounts. As per the company norms, a user can avail this facility if he/she has the following requirements:

  • The user must be registered via mobile or Email for over 45 days.
  • Minimum Paytm Wallet Balance – Rs. 2000.
  • Transaction amount must exceed Rs 1,000.
  • The daily upper limit for the wallet to bank account transactions is Rs. 5,000 and the monthly limit is Rs. 25,000.

You can transfer Paytm wallet cash to your bank account in two ways. One is, you can transfer paytm cash to bank account where 4% charges are applicable. The other is a simple trick so that your cashback amount will be transferred directly to your bank account.

Transfer Paytm cash to bank account – 4% Charges Apply

Here is a 100% working method of transferring your Paytm wallet cash back to your bank account. If you use this method, 4% charges will be applicable on particular purchased product cashback. Follow the simple steps below so as to transfer Paytm wallet cash to your bank account.

Step1: Initially, Go to Paytm wallet on your PC or Laptop or mobile.

Step 2: Just Click on “Transfer Money to Bank” option as shown in the image below:

Step 3: Now, enter the name of the account holder in the Name field.

Step 4: Select the name of the bank from the given list of given bank.

Step 5: Click to get IFSC code.

Now, you need to select the following to which your bank belongs:

  1. State
  2. City
  3. Branch of the Bank
  4. Then click on submit

Step 6: Now you will get an error message as:

“Your wallet is not setup to transfer money to bank. To use this service SMS ‘TMB’ to 53030 from your registered mobile to get an invite.”

Step 7: Now, you need to send SMS from your registered mobile number. For that,

  • Type TMB and send it to 53030 (Standard charges will apply) in order to activate balance transfer service on your wallet.
  • You will then receive a confirmation message soon. You need to wait either for 48 hours and 7 days to get the service activated depending upon your bank account.

NOTE : You must use the mobile number on which paytm account was created initially.

  • T & C to Send Paytm Wallet Money to Bank Account
  • Minimum transfer money to a bank account is Rs. 2000.
  • You will be charged 4% of the money if the cash is transferred to your bank account.

This is the simple method, but 4% charges will be deducted from the actual cashback amount. Even 4% matters a lot if your cashback is less just for just transferring money from Paytm to your bank account.