India moving towards cashless economy was largely supported by online wallets like PayTM. To be true payTM was a savior during the cash crisis and helped many businesses to run accepting payments. If you have used PayTM you know how easily you can transfer money using the wallet. But to be accepted as true alternative to bank transactions, it had to make sure money was on our bank accounts and not some online wallet. Bridging this gap and making it possible to use PayTM with your bank account made it built trust among the public.
Here rises a question, how should you transfer the money you received on the wallet? Cause unless it is deposited into your account people will not consider their money safe. In order to help to with this, let us look into the steps to be followed :
Step by Step Guide To Transfer Money From Your Paytm Wallet To Bank Account
Step 1: Open the App
- To transfer the money from your PayTM wallet to your bank account you need to first open your app.
Step 2: Click on “Passbook” Option
- On the homepage you will find Passbook option, click on it. It will open a new window showing your current PayTM balance.
Step 3: Choose “Send Money to Bank”
- In the passbook, choose the option “send money to bank” located below the balance shown. It will open new window asking to confirm transfer.
Step 4: Tap on “Transfer”
- Tap on the transfer just besides the amount showing on the app. It will open a new window asking you to enter your bank details.
Step 5: Fill In Your Bank Details
- Confirm the amount to transfer and enter the bank details like: Account Holder name, Account Number, IFSC Code and remarks.
Step 6: Tap on “Send”
- Tap on send and it will instantly transfer the money to your bank account. You are done, successfully transferring money to your bank account. You will get a confirmation message saying “sent successfully to, followed by account number last 6 digits”.
As you can see, transferring your money to safety of your bank account is very easy and takes only few steps. Let me know in the comments if you face any trouble.