“Can I send money from one bank to another using Paytm?” Yes, you can! Whether you need to move money from one of your dedicated accounts for payments like mutual funds, stocks, or business transactions that require the registered bank account, Paytm makes it simple. Instead of juggling multiple logins and apps, you can transfer money in your bank accounts via Paytm quickly and securely, all within a few taps. In this blog, we’ll walk you through how to send money from one bank to another using Paytm effortlessly, so you save time and avoid the usual hassle.
Transfer Money to Your Bank Account Using UPI on Paytm
Whether you want to make payments to services that require only your registered bank account or prefer to manage multiple accounts—one for emergencies, one for bills, and another for guilt-free spending—Paytm’s Self Transfer feature makes transferring money between your own bank accounts quick and easy.
How to Use the Self Transfer Option:
Step 1: Log in to the Paytm app and tap on the ‘Self Transfer’ option.
Step 2: Choose the bank account you want to send money to.
Step 3: Enter the amount and tap ‘Proceed’.
Step 4: Select the bank account to send money from, then tap ‘Pay’.
Other Ways to Transfer Money to Your Bank Accounts with Paytm
Using Scan & Pay:
Step 1: Tap on ‘Scan & Pay’ and enter ‘Self Transfer’.
Step 2: Click on ‘To Self A/c’, then select the bank account you want to send money to.
Step 3: Enter the amount and tap Proceed.
Step 4: Choose the bank account to send money from, tap Pay, enter your UPI PIN, and you’re done.
Using ‘To Mobile’ Number:
Step 1: Open the Paytm app and tap on ‘To Mobile’.
Step 2: Enter the recipient’s mobile number, name, or UPI ID.
Step 3: Tap ‘Pay’, enter the amount, and click ‘Proceed Securely’.
Step 4: Choose your linked bank account and tap ‘Pay Securely’ again.
Step 5: Enter your UPI PIN to complete the transfer.
Transfer Directly to Any Bank Account Using Account Details
Step 1: Open the Paytm app and tap on ‘To Bank’.
(You’ll see three options: Enter Bank A/c & IFSC, UPI ID/Mobile Number, and Self Transfer. Select ‘Enter Bank A/c No & IFSC’ and tap ‘Proceed’.)
Step 2: Enter the amount you want to send.
Step 3: Choose your linked bank account, enter your UPI PIN, and the transfer is complete.
What’s Common in All Methods?
No matter which method you choose, all transactions are processed through UPI—Unified Payments Interface—a secure and instant payment system that links your bank accounts seamlessly for fast and reliable money transfers.
Transferring Money to your Bank Accounts via Paytm? What to Keep in Mind
Transferring money to your bank accounts using Paytm is quick and convenient, but to ensure a smooth experience, here are some key points to remember:
- Beware of Scams: Avoid responding to unsolicited messages or links requesting your UPI details or OTP. Use official Paytm channels only.
- Link Your Bank Accounts Properly: Ensure both the sender and receiver bank accounts are linked to your Paytm app via UPI for seamless transfers.
- Use Correct Details: Double-check bank account numbers, IFSC codes, or UPI IDs before confirming the transaction to avoid errors.
- UPI PIN Security: Never share your UPI PIN with anyone. Enter it carefully for authentication during transactions.
- Transaction Limits: Be aware of daily or monthly transaction limits imposed by your bank or Paytm for UPI transfers.
- Network Connectivity: A stable internet connection is essential to complete your transfers without interruptions.
- Keep Paytm Updated: Regularly update the Paytm app to benefit from the latest security features and improvements.
- Check Transaction Status: Always verify the transaction status within the app and keep a record of the UPI transaction reference number (RRN) for any future queries.
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