Paytm is one other app that enables thousands of users to pay money from one bank account to another.
Paytm indeed is an entirely free application that helps users to transfer money safely. However, Paytm does charge a minimum amount of 5% as a service charge to transfer any amount from your account to a bank account.
These charges are because of the fees or charges by your bank to Paytm to hold your money safely and securely. Paytm pays a minimal charge to your bank every time you add your money to your wallet.
To transfer the money from your Paytm wallet to your bank account there are some very specific steps that you need to make carefully. The correct way to transfer your money from your wallet to your bank account is as follows:
Steps to do Self Transfer via Paytm:
Step 1: To initiate the process first you must have a Paytm application on your phone. If not then you can easily download it from the App Store or Playstore.
Step 2: Register your number on Paytm and choose your bank account.
Step 3: After the registration, you must click on the Passbook and check your wallet balance. After, making sure about the current balance in your Paytm wallet you can start the transfer immediately.
Step 4: Click on the Paytm wallet .
Step 5: Select the option to transfer money to a bank account.
Step 6: Now insert the details of your bank account such as bank account number, IFSC code, and more necessary details.
Step 7: Now select the Transfer option to initiate the payment.
Step 8: Insert the amount that you want to transfer from your wallet to your bank account.
Step 9: Tap on Transfer and your money will be safely and successfully transferred to your bank account.
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