How to Transfer Money from Your Credit Card to Bank Account Using Paytm?
By Anupama Deshpande | Jan 11, 2019
Paytm is an e-commerce payment system and digital wallet company in India that was founded in Aug 2010. It offers online facilities like mobile recharges, utility bill payments, travel booking, movies tickets booking, merchant payments, and many more.
Paytm allows you to transfer money from credit card to your bank account but there is a charge of 3% on the transferred money that you have to bear. You can instantly transfer money through Paytm.
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How to Transfer Money from Your Credit Card to Bank Account Using Paytm?
Following is given a step by step process to transfer your money from your credit card to bank account using Paytm:
Step 1: Open Paytm App and click on add money option
Open Paytm App and click on "add money option" appearing on top strip on the homepage of the app.
Step 2: Select Credit Card Mode
You asked to select their mode of payment from debit card, credit card, net banking, and IMPS. Select credit card mode.Step 3: Enter the Credit Card Details
After selecting Credit Card Mode, you will be directed to a secure payment gateway. Now you need to fill in credit card details i.e. card number, name, card validity and CVV number. After that one option saying "save the card details" will appear through which you can save these details for future transaction using same credit card. However, you will need to enter the CVV number every time for safety purpose.Step 4: Enter the Bank Details of the Recipient
Now you need to enter the bank details such as Bank Account Number, IFS Code and Bank Name of the recipient.
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Step 5: Click on Passbook Option
You have to click on Passbook Option and then click on "transfer to bank" option.
Step 6: Enter the Amount to be Transferred
You have to enter the amount which you wish to transfer to the recipient's bank account and click on "Proceed" button.
Step 7: Get Message of Money Transfer
After transfer of money to the recipient's account, you will get an alert message on your mobile saying "Money Transfer Successful".
Benefits of Transfer Money from Your Credit Card to Bank Account Using Paytm
- Transferring money from your bank account to another bank account through Paytm is effortless.
- Instant Money Transfer.
Points to Note for Transfer Money from Your Credit Card to Bank Account Using Paytm
- This service is available 24 hours every day
- You will get 24 X 7 help from Paytm
Anupama is a Co-Founder of CodeForBanks.com. She is an MBA (Finance) and Chartered Financial Analyst (CFA). She also carries a Fellowship degree in Life Insurance Sector and is a Master of Computer Application (MCA). She is an expert in Finance Field with an experience of over 18 years on different managerial positions in finance industry including Stock Market, Depository and Mutual Fund Sectors. Apart from that she has remained for few years in the field of marketing as well. Her suggestions and advice for investments have been very useful to many people.Her vast interest & expertise in the field of finance have encouraged her to write the articles so that others can also get benefitted out of them. She never loses any opportunity to learn and be creative. She is a valuable asset for CodeForBanks.com & important resource to all those around her.