Paytm users get the option to transfer money from their Paytm wallet to their bank accounts or other bank accounts which are not even on Paytm. Interestingly, all it takes is account details to be handy while transferring the money. In case you are wondering how to transfer the money using this method, here’s a step by step guide on it:
STEP1. Open the Paytm app on a smartphone.
STEP2. Now look Check for My Paytm section and tap on the Wallet option.
STEP3. Click on the Transfer to Bank button which is available at the top of the screen.
STEP4. Enter the amount which has to be transferred. Now, press the Proceed button.
STEP5. Furthermore, enter the details of your account such as account number, IFSC code and name of account holder in the spaces provided. Now move with the Proceed button.
STEP6. Enter the OTP received on your mobile and follow the further verification instructions.
STEP7. As a final step, confirm all the money transfer details will be displayed on the screen and click the Proceed button.
Meanwhile, Indian digital payments and financial services company, Paytm Payments Bank now allows users to transfer money through the Unified Payments Interface (UPI) at any mobile number registered with the third-party UPI applications. The move will empower Paytm users to make superfast and seamless money transfer to any mobile number, including those not registered with Paytm. Also, this further deepens UPIs interoperability and roots for the adoption of mobile payments.
According to the notification, Paytm Payments Bank announced that users on the Paytm app will now be able to make UPI transactions to any mobile number across all UPI payment apps even if the recipient is not registered with Paytm. With this, Paytm app users can instantly receive money from and send money to any mobile number with a registered UPI ID across payment apps.
The development will allow users to get the benefit of interoperability across all UPI-based payment apps, ensuring a superfast and seamless payments experience. National Payments Corporation of India (NPCI) has enabled all payment services providers to access its universal database and make UPI payments interoperable.
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