Mostly all the popular Mobile Wallet services like Airtel Money, Oxigen Wallet were having this feature to withdraw the wallet balance to bank account but Paytm Wallet Service was only one mobile wallet service in which balance withdrawal to bank facility was not available. So to compete in the market among all Wallet Service Paytm recently have introduced the most awaited feature to Transfer Paytm Wallet Balance to Bank Account, previously this feature to withdraw Paytm Wallet Balance to Bank Account was not present.
So most of Paytm users used to search alternate methods to transfer their Paytm Wallet Balance to Bank Account, and with many unofficial ways the Paytm user used to withdraw Paytm Balance to their Bank Account but it was to be expensive to the users as the third party services was to charge huge amount of fees to withdraw the wallet balance to bank account. But later on the third party services which used to help Paytm users to withdraw Paytm Wallet Balance to bank had also discontinued the service to transfer Paytm Wallet Balance to Bank.
So now this will be a good news for all Paytm users as now they will be able to directly withdraw their Paytm Wallet Balance into their Bank Account by using this feature. If you want to know the step by step process on How to Transfer Paytm Wallet Balance to Bank Account than follow the below steps briefly.
Transfer Paytm Wallet Balance to Bank Account
- Just login to your Paytm Account and navigate to Paytm Wallet.
- Once you are on Paytm Wallet page, you will see a new tab Transfer to Bank.
- Just click on Transfer to Bank and fill in all the fields like Bank Account Holder Name, Branch IFSC Code, Select Bank from the list, Bank Account Number, and the amount which you want to transfer from your Paytm Wallet to bank account.
- Once you have entered all these details correctly just click on Send Money, and the amount will get credited into your Bank Account.
Note: To be able to transfer money from Paytm Wallet to Bank Account you need to have at least a balance of Rs.2000/- in your wallet. 2% of the entire transfer amount will be deducted and rest amount will be transferred to the bank. To be able to send money you need to be registered for at least 30 days.