How to Transfer Money From Paytm Wallet to Bank Account

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) if you haven’t got your KYC (Know Your Customer) process done. if you need to transfer more than the limit, then you will need get in touch with Paytm to get your KYC done.

Doing so is also quite simple: first 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. While the PAN card number is not necessary, it becomes mandatory if you want to transfer more than Rs. 50,000 in a single transaction. You can conduct unlimited transfers after the KYC is done.

The KYC process can take up to 48 hours, but you can shorten it by providing Aadhar card as proof of identity as the biometric verification “results in instant completion of process,” says Paytm.
How to transfer money from Paytm to any bank account using Paytm app

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

How to transfer money from Paytm Wallet to bank account using Paytm desktop website

  • Open Paytm.com website and login to your account.
  • Roll the mouse cursor over your name at the top-right of the screen and click on Paytm Wallet.
  • In this window, select the Transfer to Bank option and type in the requisite details.
  • Hit the Send Money button.

If you are a new Paytm user without KYC, you have to wait three days to transfer money from your Paytm Wallet to bank account. On the other hand, those who have completed the KYC process can start bank transfers immediately.

Transferring money from your Paytm Wallet to bank account will be free of charge till December 31 for merchants who have done KYC. Other customers, as well as merchants who have not yet completed the KYC process, will have to pay a 1 percent fee. You can send a minimum of Rs. 100 to your bank account via the service. Every Paytm users can transfer up to Rs. 5,000 at a time, with 25,000 per month the limit. If you are a merchant, you can transfer up to Rs. 50,000; with the limit going up to Rs. 1 lakh if you are a user who’s done his or her KYC.

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