How to Transfer Money Between Bank Accounts via Paytm?

Whether you’re splitting a bill with a friend, transferring funds to a family member or transferring money between your own bank accounts, Paytm simplifies the process. In this guide, we’ll take you through the step-by-step procedure for transferring money between your bank accounts through Paytm, ensuring a seamless and hassle-free experience.

What is Self Account Transfer Meaning?

Self-Account Transfer is a feature that allows you to easily move funds between your own accounts within the same bank using a UPI app. You can transfer money from your savings account to your current account or between different savings accounts. This feature helps you manage your finances conveniently, ensuring quick and hassle-free transactions without any extra charges or delays associated with transfers to other banks. Just select the source and destination accounts, enter the amount, and complete the transfer instantly!

Steps to Transfer Money Between Your Bank Accounts

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.

5 Reasons Why You Must Use Paytm

1. Seamless Money Transfers

With Paytm, you can transfer money effortlessly between your own accounts or to anyone else with just a few taps. Whether you need to send money to a friend, family member, or vendor, Paytm makes the process quick and easy. You have the option to transfer to any mobile number or bank account, ensuring that your funds reach the intended recipient without hassle.

2. Secure Transactions with Paytm Security Shield

Security is paramount when it comes to your financial transactions. Paytm understands this and has implemented robust security features, including the Paytm Security Shield. This shield safeguards you against unauthorized access and ensures that your personal information and funds are protected, giving you peace of mind during every transaction.

3. Automatic Payments

Paytm allows you to set up automatic payments for recurring bills, such as electricity and phone bills. This feature ensures that you never miss a payment deadline, helping you manage your finances more effectively and avoid late fee.

4. Automatic Payments

Paytm allows you to set up automatic payments for recurring bills, such as electricity and phone bills. This feature ensures that you never miss a payment deadline, helping you manage your finances more effectively and avoid late fees.

5. Earning Cashback

One of the most attractive features of Paytm is its cashback offers. You can earn cashback on various transactions, including bill payments, recharges, and online shopping. This incentive not only makes your transactions more rewarding but also helps you save money while enjoying your shopping experience.