Transfer Cash from Credit Card to Bank Account via PayTM for FREE
Due to demonetisation move unleashed since November 8th, there has been a sharp increase in PayTM’s offline transactions. Between November 10 and November 16, total of 25 million offline transactions were recorded by PayTM, whose value was Rs 150 crore. Now because Rs. 500 & Rs. 1000 Indian currencies won’t be valid and everyone is facing problem with the sudden currency change, there’s a new option available for credit card users.
Credit Card users can transfer their money to their bank account for free. As general withdrawal from Credit Card via ATM will cost 15% interest but here’s the trick to Transfer Cash from Credit Card to Bank Account for Free.
The best available option is to transfer your money to PayTM wallet first then transfer it into your bank account. And as because of PayTM’s new offer, in which there won’t be any transfer charges on transferring money from PayTM wallet to bank accounts till 31 Dec 2016, you can transfer your money for free. Note: Only KYC Verification is needed which can be done by using your Aadhaar card.
Add Money to PayTM Wallet via Credit Card
You can add money to your PayTM Wallet in a few simple steps
- Log into your PayTM account and click on “PayTM Wallet” icon towards the top right of the page
- Enter the amount you want to add and click on “Add Money”
- You can choose to add money via Credit card.
- You will be redirected to a secure payment page where you need to provide payment details
- If you have any saved credit card, it will be shown upfront and you only need to enter the CVV number and proceed to the bank page. If you do not have any saved credit card, you can choose to save a card for faster payment next time.
- Once you enter details on your bank’s page & complete the transaction, you will be redirected to PayTM with money added in your PayTM wallet
Transfer Money from PayTM Wallet to Bank Account
To send money to a bank using PayTM you need to follow these steps:
- Open the PayTM App.
- Tap the Pay or Send icon.
- Tap the Send to Bank option.
- Enter the Beneficiary Name.
- Enter the account number.
- Enter the IFSC code of the branch. You can get the IFSC code by tapping the Get IFSC and selecting your bank and branch.
- Enter the amount you want to send.
- You can also enter the reason for sending money, however this is optional.
- Tap Send.
- Your money will be successfully transferred to the bank account.