How to Add Beneficiary on Paytm?

byPriyanka JuyalJanuary 16, 2025
Transfer Money from Paytm Wallet to Bank Account

Ever tried transferring money but hit a roadblock because you hadn’t added the recipient as a beneficiary? It’s a common situation, especially when you’re in a rush to complete an urgent payment. On Paytm, adding a beneficiary is quick, ensuring your money reaches the right person every time. Whether it’s splitting bills with friends, sending money to family, or making business payments, adding a beneficiary not only streamlines the process but also enhances security.

In this guide, we’ll walk you through the simple steps to add a beneficiary on Paytm, so you can transfer money seamlessly and without any delays. Let’s dive in!

3 Steps to Add Beneficiary on Paytm

Step 1: Open the Paytm app and tap on the ‘To Bank A/c or UPI ID’ option on the home screen.

Step 2: On the next page, select ‘Enter Bank A/C No. & IFSC’. Fill in the required details, including the beneficiary’s bank account number, bank name, and IFSC code, and then click ‘Proceed’.

Step 3: The beneficiary will be successfully added, and you’ll be ready for instant money transfers.

Note: Paytm also simplifies the process by automatically saving beneficiaries when you make payments to merchants or individuals. To view your saved beneficiaries, go to ‘To Bank A/c or UPI ID’ on the home screen. On the next page, navigate to the Recents & Saved Beneficiaries section, where you’ll find a list of all your saved beneficiaries for future payments.

This way, Paytm ensures that managing and transferring money to your contacts is both convenient and secure!

Benefits of Adding a Beneficiary on Paytm

  • Convenience: Once added, you can instantly transfer funds without re-entering details every time.
  • Faster Payments: Adding beneficiaries ensures smooth, quick, and hassle-free transactions.
  • Security First: Helps prevent mistakes by confirming beneficiary details before making transfers.

Disclaimer: The information provided in this article is for informational purposes only and does not constitute professional advice or an endorsement of any particular product or service. While we make every effort to ensure the accuracy of the details shared, the content is based on publicly available information and reliable sources. Readers are encouraged to verify the details independently and consult with a professional advisor before making any decisions. Please exercise caution and stay informed when making any decisions.

FAQs

Do I need to add a beneficiary for every transaction on Paytm?

No, you only need to add a beneficiary once. Paytm saves the details for future use, making repeat payments easy.

How long does it take to activate a beneficiary?

Once you add the beneficiary on Paytm, it’s activated instantly for immediate use.

Can I edit or delete a beneficiary on Paytm?

Currently, you cannot edit beneficiary details on Paytm. If needed, you can delete the beneficiary and re-add them with updated information.

Are there any charges for adding a beneficiary on Paytm?

No, Paytm does not charge for adding or managing beneficiaries.

What details do I need to add a beneficiary?

You need the beneficiary's bank account number, bank name, and IFSC code to complete the process.

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