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How to Transfer Money From Paytm to Bank Account

Lately Paytm has become one most widely used wallets in India. The company has added thousands of merchants to its platform within days of Prime Minister Narendra Modi’s announcement of scrapping Rs. 1000 and old Rs. 500 currency notes.

In order to transfer money from your Paytm wallet to a bank account, you need the name, account number, and IFSC code of the bank account holder. However, there is a Rs. 20,000 limit on transactions (Rs. 50,000 for merchants).

How to transfer money from Paytm to any bank account using Paytm app

1. Open the Paytm app on your smartphone and tap the Passbook icon
2. Here, select the Send Money to Bank option
3. Tap on Transfer
4. Enter the amount, account holder’s name, bank account number, and IFSC code
5. Hit the Send button

Transferring money from your Paytm Wallet to bank account will be free of charge till December 31 for merchants who have done KYC. To do a KYC find a Paytm KYC centre close to you, and provide the relevant RBI-approved documents (Aadhar card, passport, voted ID card, driving license, or NREGA job card). You can also type in your Aadhaar number, and then request a visit at your address. 

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