How much money paytm charges for bank transfer, paytm bank transfer charges – Paytm has helped a lot in the making of cashless India. We can recharge our mobiles, pay bills, shop online using paytm wallet and earn cashback which can be transferred to bank account. In this article, we will tell you about paytm bank charges or paytm transaction charges for money transferred to bank.
Paytm helps every users and shopkeeper to pay or receive money using paytm wallet and after receiving the money, paytm also allows users to transfer the money to bank account.
Paytm has allowed users to transfer paytm cash to bank account at 0% charges till 31st January and from 31st January onwards, paytm starts charging some money as paytm bank transfer charges.
Paytm transaction charges are 2.04% of the amount that you want to transfer to bank account. But according to paytm, they will stop charging for bank transfer once they launch paytm payment bank. Yes, you heard it right. After the launch of paytm payment bank, the paytm charges for bank transfer will be removed and you can transfer paytm cash to bank account at 0% charges forever.
For example – If you want to transfer Rs 1000 to bank account then you will get charged 2.04% on Rs 1000 as paytm charges for bank transfer and you need to pay Rs 1020.4 for transfer Rs 1000 paytm cash in your bank account. In this case, Rs 20.4 will be paytm transaction charges.
Paytm bank transfer for new users – If you are a new paytm users then you need to wait for 3 days before transferring paytm cash to bank account. New users can transfer paytm cash to bank account only after 3 days. But if you have completed your KYC formalities then you can transfer paytm cash to bank account immediately.
What are the restrictions on transfer of paytm cash to bank :-
1) According to the RBI guidelines, a users can transfer upto Rs 25,000 paytm cash to bank account every month.
2) Minimum bank transfer amount is Rs 100
3) Maximum bank transfer amount or a maximum amount that can be tranferred to bank in a single transaction is Rs 5000.
4) You cannot transfer paytm cash which is added to paytm wallet to any other person’s bank account except the bank account from whom it has been added. But if you have received paytm cash from any other person then it can be transferred to any other person’s bank account.
5) Paytm cash will transferred to bank account instantly but sometimes it may take upto 24 hours.
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