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How to transfer money from Paytm to bank account for free

May 18, 2018, 02:32 PM IST

Mobile wallet app, Paytm, has launched a feature that will allow customers to transfer money from any bank account to any bank account at zero charges. Even non-KYC Paytm users can avail this facility, said a press release issued by One97 Communications, the company that owns Paytm.

 

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Called “My Payments’ the feature will enable Paytm users to make recurring, high value payment and other monthly expenses in an instant.

 

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This is how the feature works:
Step 1: 
Open Paytm app and tap on ‘bank transfer’ icon.
 

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Step 2: Link your bank account with Paytm

 

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Step 3: Then you will get a message ‘Account Link Successful’

 

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Step 4: Enter details of account holder - bank account number and IFSC code

 

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Step 5: Fill in the amount to be transferred

 

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Step 6: Message will reflect on the screen

 

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Paytm is aiming to process Rs 60,000 crore in monthly bank transfers alone by the end of this year. The company is also planning to invest Rs 5,000 crore in its core business, expecting to increase the number of transactions from 1 billion to 2 billion this year, the release said.

(Text: DNA Money)