Now Transfer Money From Paytm Wallet To Any Bank Account
Paytm is now offering its users a way to transfer money to bank accounts via mobile wallet. On Thursday, the company announced the launch of Immediate Payment Service ( IMPS) that will allow users to transfer money between bank accounts and Paytm mobile wallet.
In addition to it, Paytm will also open 50,000 retail outlets where users will be able to load cash in their mobile wallets. To avail this service, a user should have at least 45 days old verified Paytm account.
To initiate the transfer via mobile wallet, a minimum balance of 2000 INR is required in the wallet and the transfer amount must be above 1000 INR. Paytm announced via an e-mail that daily upper limit for wallet to bank transaction is 5000 INR and monthly limit is 25000 INR.
Amit Lakhotia, Senior Vice President, Paytm said,
“With the introduction of IMPS, we aim to encourage users to hold funds in their Paytm wallets and also expand the scope of what they can do with this money.
The fact that they can now use the funds in their wallets to transfer money into banks and not just for wallet-to-wallet transfers will be a true game changer. This move will set the pace of our economy to become a cashless economy.”
-Transfer money from paytm to bank account
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