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The Paytm wallet is the most popular virtual wallet in India with plenty of features and services like Movies tickets, Bus Tickets, Mobile Recharge, Electricity Bill Payment, DTH recharge, Gas Bill Payment, Water Bill Payments, etc.
If you are using a Paytm wallet for a long time and now you want to transfer your Paytm wallet money to your bank account using the Paytm app, but you don’t know that how much Paytm can charge the fee for the one-time bank transfer. So don’t worry about this, you are at right place. Here, in this article, we have mentioned about the complete details of Paytm charges and Usage limit.
Paytm To Bank Transfer Charges
If you want to transfer money from the Paytm wallet to bank account, then you need some payee details like name, Account number, and IFSC Code. If you are a Non-KYC user, then you can transfer up to 20,000 INR from your Paytm wallet in a month.
The Paytm offers the transaction limit up to 50,000 for merchants. If you are a Non-KYC user and want to expand transaction limit, then you have to complete your KYC process at any Paytm KYC center. After completing the KYC process, you can transfer as much you want.
Update: Paytm is forcing all users to be KYC verified before 31st December 2017. So everyone must need to verify their Paytm account with Aadhar card in order to use Paytm Wallet feature. Below is the procedure to complete KYC process directly from Android or iOS devices.
You can also complete you KYC process from the Paytm app, to complete your KYC, follow below-mentioned fee simple steps:
- 1. Open the Paytm app on your smartphone.
- 2. After that, tap on the “KYC” which you can find on the blue strip on your Paytm app
- 3. On next screen, you have to type your Aadhaar card number in the first field, after that type your name (As on Aadhaar Card)
- 4. After that, checkmark the box to agree on terms and conditions, then tap on the “Proceed” button
You are done.
To complete your Full KYC for your Paytm wallet from Nearby KYC center, follow below mentioned few steps:
- 1. First of all, you have to find the Paytm KYC center by using the Paytm app
- 2. After that enable internet and location on your smartphone
- 3. To find KYC center, open Paytm app > tap on “Nearby KYC Center” which you can find on the blue strip on your Paytm app
- 4. In the “Complete your KYC” section, you can find your all nearest Paytm KYC center, and you can go there to complete your full KYC.
The Fee of transfer money from the Paytm wallet to bank account:
The Paytm will charge 2% of the total amount from their customers for transferring money from Paytm wallet to bank account.
The Merchants will not be charged anything by Paytm for transferring money from Paytm wallet to bank account. To know how to transfer money from your PayTM to your bank, you can also take help of the video below.
The minimum bank transfer amount of Paytm is Rs 100. So you can transfer minimum Rs.100 from your wallet to bank account. If you have Merchant Paytm account and you don’t have completed your KYC, then you can transfer up to 25000 in one month. For KYC Done merchants, the transfer limit is up to 1,00,000 rupees.
Further reading: Firstpost