How to do a bank-to-bank money transfer using Paytm

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How to do a bank-to-bank money transfer using Paytm

Paytm has introduced itself a big money transfer platform, its a digital payment and shopping platform allows users to instantly send and receive from their account or wallet to anyone. Paytm allow its users to either transfer money from their wallet to anyone’s bank account or do a UPI-based transaction through BHIM UPI, its such a great thing.

Paytm has bring the revolution to the digital world where there is no need to keep the cash , you can directly transfer money from your account to seller’s or anyone’s account or wallet.

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.Isn’t it a good option for your business.

So, if you are a Paytm user and looking to transfer a big amount of money, then you will need to add a beneficiary before proceeding and how you can do it us mentioned here.

Read this as well:

You must be using netbanking and 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 or you can call it as beneficiary, 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 Miss-happening. We recommend please do not share your personal details with anyone.

How to add beneficiary in Paytm and transfer money

1. Open Paytm app and click on Send Money to Bank A/C

1. Open Paytm app and click on Send Money to Bank A/C
Select Send Money to Bank A/C

2. Now, click on your profile icon at the top right corner

3. Scroll down and click on Saved Accounts & Beneficiary Details

Saved accounts and Beneficiary details
Saved accounts and Beneficiary details

4. Now, click on Add New Beneficiary

Click on Add new beneficiary
Click 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.

Enter the details

Enter the details

6. Now that you’ve added a new beneficiary, you can simply select the beneficiary and transfer the money.

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