We all are living in the age of computers where digital usage is indispensable to our day to day life. Digital payment is the alternative to cash and is becoming very popular now, making digital awareness of utmost importance. We’ll address one of such popular query that how to transfer money from paytm to another account. So let’s understand this in simple steps.
1- Transfer money from UPI linked account to another account
i – Open your Paytm app, then tap on UPI money transfer.
ii- Enter the recipient UPI ID ( unique for every user)or his UPI linked mobile number, it will automatically fetch the details of the recipient.
iii- After verifying details of recipient go-ahead for filling the desired amount and proceed.
iv- If the recipient account is not linked with UPI, then you can simply put his/her bank details like name, account number, IFSC code of recipient bank( if not known Paytm will provide you option for search also) in respective columns.
v- Enter your UPI Pin and its done.
Transferring through the above method is 100% safe and absolutely free.
2 – Transfer money from Paytm wallet to another account
Before proceeding it is important to know that you will have to pay 5% of the total amount as a transaction fee( as per RBI directive). But through this method, you can transfer money not only from your debit card but also from your credit card to the bank account. For this you have to add money to your Paytm wallet from your debit/credit card and then follow the below-mentioned steps:
i- Open your passbook icon in the Paytm app, then tap on the Paytm wallet.
ii- Here you will see multiple options, select ‘ send money from wallet to bank’.
iii- Enter your desired amount, while entering the amount you will see the taxable amount also and net payable amount which will be deducted from your wallet, eg. You want to transfer 1000Rs. Then your wallet must have an extra 5% of 1000 i.e, a total of 1050Rs.
iv-When you proceed further you have to fill the recipient account details viz. A/c number, IFSC, Holder’s name.
v- After filling details correctly simply tap proceed and it’s done.
Hope this was helpful.