How to do bank to bank money transfer using Paytm?
by Souporno Ghosh StudentPaytm, a digital payment and shopping platform allows users to
instantly transfer money from their account or wallet to anyone. Paytm
users can either transfer money from their wallet to anyone’s bank
account or they can do a UPI-based transaction through BHIM UPI.
The
amount of money that can be transferred with these methods is limited
to Rs 10,000 per month, as per RBI’s guidelines. However, Paytm also
allows users the option to transfer money by adding a beneficiary and
this also increases the transfer limit from Rs 10,000 to Rs 10 lakh per
month.
So, if you are a Paytm user and looking to transfer a big amount of money, then you will need to add a beneficiary and here’s how to do it. It is basically similar to transferring money using net banking or the banking apps. Where users’ first need to add account details of the person they want to transfer and then make the payment. Also, please make sure to perform this process in a secure network or personal Wi-Fi connection to avoid any mishaps
How to add beneficiary in Paytm and transfer money
1. Open Paytm app and tap on Send Money to Bank A/C
2. Now, tap on your profile icon at the top right corner
3. Scroll down and tap on Saved Accounts & Beneficiary Details
4. Tap on Add New Beneficiary
5.
Now, select Bank Account and enter details like Account number, Account
holder’s name and IFSC code and hit Add Beneficiary button at the
bottom.
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Created on Jun 21st 2022 03:12. Viewed 264 times.