Looking to transfer money from Paytm wallet to a bank account? Here’s how to do it in five easy steps

The average monthly transacting users on Paytm has been rapidly increasing. As of March 2022, the figure stood at 69.5 million for the first two months of the year. This shows a 41% growth from last year!


Paytm’s Wallet has been monumental to this growth. It is a safe and secure way for people to transfer money to other Paytm wallets or directly to their bank accounts. Not just that, a Paytm user can also transfer money to their bank account through the Paytm Wallet — all at zero cost!

Let’s understand how you can do that too.
How to transfer money from Paytm Wallet to someone’s bank account
Transferring money to someone’s bank account is super easy and more importantly, completely free of cost!


Just follow the steps below:

1. Open the Paytm app on your phone
2. Scroll to the ‘My Paytm’ section on the app’s home screen
3. Select ‘Paytm Wallet’ from the options present
4. Choose the ‘Transfer to Bank’ option from the four options available
5. Now, input the amount you wish to transfer from your wallet to the bank account. This amount can vary from Rs. 20 to Rs. 25,000
6. Add the account details of the bank in which you wish to transfer money. In case you’ve transferred the amount to the said bank before, you can simply click on the saved account details
7. To add a new bank account, you have to input the recipient’s bank account number, IFSC and name
8. Once these details are entered, click on ‘Proceed’
9. Tap on ‘Confirm’

Just like that, you’re all done, that too completely free of charges!


How to transfer money from Paytm Wallet to your own bank account


It is even simpler to transfer your unused wallet balance back to the bank without any charges.

1. Follow steps 1-5 listed above
2. Enter the amount and confirm

You’ve just transferred money to your account with zero charges!



How to transfer money from Paytm Wallet to someone’s bank account through a QR Code


The QR code in the Paytm Wallet makes the task of transferring money to the bank quick and hassle-free. You can transfer money for free by following the below steps:

1. Click on the ‘Pay’ option on the app’s home screen
2. Scan the UPI QR code of the recipient
3. Make the payment into the recipient’s bank account through your Paytm wallet

Similarly, money can be transferred for free from your Paytm Wallet to someone else’s bank account by entering the receiver’s mobile number manually or selecting their contact from the phone book on your mobile.


Free bank transfer with Paytm Wallet


Paytm Wallet can be used for a variety of reasons. Whether you have to pay bills or recharge your mobile phone or book flight tickets or even do online shopping, Paytm Wallet’s many offerings take care of your needs — at no hidden cost to you or the receiver!


Because Paytm does not charge anything to transfer money to the bank account, it has become people’s number one choice for online transfers and payments. It is important to note that to be able to transfer money from the Paytm wallet to the bank account, the wallet should have some balance. After that, the process is uncomplicated and effortless.


This RBI-approved wallet is completely secure and super convenient to use. And with its zero-cost transfer money to bank feature, it has become even more lucrative to people!


Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in]