Easy Steps to Transfer Money From Paytm to Bank Account – Paytm has to turn out to be the go-to digital payments app for many individuals in India after the demonetization initiative, and the organization has a great many dealers to its platform within days of Prime Minister Narendra Modi’s announcement of banning Rs. 1000 and old Rs. 500 currency notes. From vegetable sellers to markets, everybody is joining the Paytm cashless payments app.
In any case, there has been some perplexity with respect to what occurs after a dealer gets a payment from a client by means of Paytm. In what measure should vendors exchange cash from their Paytm Wallet to financial balances? Look down to discover the basic procedure to exchange cash from your Paytm to ledgers.
So as to transfer cash from your Paytm wallet to a bank account, you require the name, account number, and IFSC code of the ledger holder. In each case, there is an Rs. 20,000 limit on exchanges (Rs. 50,000 for shippers) on the off chance that you haven’t got your KYC (Know Your Customer) process done. in the event that you have to exchange more than the limit, you will need to connect with Paytm to complete your KYC.
Getting you KYC done is also fairly easy: initially find a Paytm KYC centre close to you, and provide the appropriate RBI-approved documents (Aadhar card, passport, voter ID card, driving license, or NREGA job card). You can likewise type in your Aadhaar number and afterwards, request a visit at your address. While the PAN card number isn’t important, it turns out to be obligatory if you want to transfer more than Rs. 50,000 in a single transaction. You can perform limitless transfers after the KYC is done.
The KYC procedure can take up to 48 hours, but you can cut it by providing Aadhar card as proof of identity as the biometric proof “outcomes in a prompt conclusion of the process,” says Paytm.
Easy Steps to Transfer Money From Paytm to Bank Account
Step by step instructions to transfer cash from Paytm to any bank account using Paytm application
- Open the Paytm application on your cell phone and tap the Passbook icon
- Here, select the Send Money to Bank option
- Click on Transfer
- Enter the amount, account holder’s name, ledger number, and IFSC code
- Click the Send button
The most effective method to transfer cash from Paytm Wallet to a bank account using Paytm work area site
- Open Paytm.com site and log in to your record
- Roll the mouse cursor over your name at the upper right of the screen and tap on Paytm Wallet
- In this window, select the Transfer to Bank choice and type in the essential subtleties
- Hit the Send Money button
If you are Paytm customer without KYC being done, you need to hold up three days to transfer cash from your Paytm Wallet to the bank account. Then again, the individuals who have finished the KYC procedure can begin with bank transfers quickly.
Transferring cash from your Paytm Wallet to bank accounts was for free of cost till December 31 for senders who have done KYC, however not any longer – customers need to pay an amount of 2 percent now. You can send at least Rs. 100 to your bank through the service. Each Paytm customers can transfer up to Rs. 5,000 at any given moment, with 25,000 every month the limit. In the event that you are a dealer, you can transfer up to Rs. 50,000; with the limit going up to Rs. 1 lakh on the off chance that you are a customer who’s done his or her KYC.