How to Transfer Paytm Cash to Bank – 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 ed s. You can do mobile recharges, several bill payments and many more. You can use this Paytm app on your smartphones as it s various platforms such as Apple iOS, Android, Windows, Blackberry and Opera.
How to Transfer Paytm Cash to Bank
Undoubtedly, if there’s any digital transaction company (after government and private banks in India), that is most benefitted because of demonetisation, then it’s PAYTM. With initial updates, there was one thing PAYTM s were not too happy with. It was transferring their PAYTM money, back to their Bank s, so that can have the Cash of the same amount in hand, whenever required from Automated Teller Machines in their locality. But, after the PAYTM founder Vijay Shekhar Sharma felt that PAYTM’s s are in need of the same, he updated the PAYTM mobile app by which, now, all the PAYTM s can easily send their money back to their Bank in a super easy manner.
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 . Today, we are here to guide you on how to transfer Paytm cash to any of your bank s just by using two easy ways.
Two Easy Techniques to Transfer Paytm Cash to Bank
We are providing you with two simple tricks in order to transfer Paytm Cash to your bank . Paytm has introduced Immediate Payment Service (IMPS) on its platform, which means that Paytm s can utilize their mobile wallets to transfer money into any of your bank s. As per the company norms, a can avail this facility if he/she has the following requirements:
- The must be ed 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 transactions is Rs. 5,000 and the monthly limit is Rs. 25,000.
You can transfer Paytm wallet cash to your bank in two ways. One is, you can transfer paytm cash to a bank where 4% charges are applicable. The other is a simple trick so that your cashback amount will be transferred directly to your bank . Check the two methods given below:
Method 1: Transfer Paytm cash to bank – 4% Charges Apply
Here is a 100% working method of transferring your Paytm wallet cash back to your bank . 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 .
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 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:
- State
- City
- Branch of the Bank
- 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 ed mobile to get an invite.”
Step 7: Now, you need to send SMS from your ed 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 for either for 48 hours and 7 days to get the service activated depending upon your bank .
NOTE : You must use the mobile number on which paytm was created initially.
T & C to Send Paytm Wallet Money to Bank
- Minimum transfer money to a bank is Rs. 2000.
- You will be charged 4% of the money if the cash is transferred to your bank .
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 . So, we are providing you Method 2 that guides you to send Paytm money to the bank at free of cost.
Method 2: Transfer Paytm cash to a bank – No Charges Apply
This method is little lengthy where you need to follow a simple technique. Here is a pictorial representation that shows you the trick. If you don’t understand this pictorial illustration, we are providing you the detailed step-by-step procedure and apply this technique so as to Transfer paytm money to bank without any charges.
Step 1: Check you have fulfilled all these conditions or not.
- Are you planning to buy an item from Paytm?
- Do you need cash back to be transferred to your bank ?
- So, before that, you need to make sure that you have not yet ordered any item from Paytm because cashback of previously ordered item can’t be transferred using this technique?
Step 2: Simple Example
This is a simple example to show you how Paytm money will be transferred to your bank without any charges.
- Firstly, Select an item to buy ( Say it item A ) and calculate yourself the Cashback which you will gain on this item A.
- Suppose, the cash back you receive on item A is Rs 750. So this is the money which you have to transfer to your bank .
- Now, Select any other random item which is priced approx Rs.750 or less but not more than 750 ( consider it as item B).
- It means that the Price of Item B <= Cashback on Item A
Step 3: Order Item B
- Now, you have to Order item B before ordering the item A.
- After that go to paytm order history and Cancel the last ordered item B.
- You can see the cancellation images as shown below:
Step 4: Now, you can see Text REFUND on Paytm wallet page under latest transaction option.
STEP 5: Order Item A
- Now, you can order your actual desired item A and make sure that you apply a coupon code for the cashback.
- You need to wait for cashback till it gets credited in your paytm wallet.
- As soon as you receive your cash back amount then, again go to Paytm cash transaction history.
- Now, Click on REFUND option as shown in the image above.
You’re done. You will receive your cash back amount which will be automatically transferred to your bank a/c within 3 days or a maximum of 7 days. Follow this simple technique to transfer paytm cash to your bank . You can try any of the two methods and try to apply them to transfer Paytm wallet cash directly to your bank . Hope this tutorial guides you to transfer Paytm wallet cash to your bank . Having any queries regarding How to Transfer Paytm Cash to Bank ? please let us know in the comment box below.
