How to transfer money from Paytm Postpaid to bank account? Although Paytm does not allow users to withdraw their postpaid balance, still you can transfer your Paytm Postpaid money to a bank account.
Since Paytm Postpaid itself does not provide a bank transfer option, you have to use some tricks to withdraw your Paytm Postpaid money. In this article, you’ll learn how to transfer Paytm Postpaid money to bank account.
Here we have shared some 100% working and the latest tricks. So, without further ado, let’s dive into this article…
How to Transfer Money from Paytm Postpaid to Bank Account?
To transfer Paytm Postpaid money to a bank account, you can follow two easy tricks, either you scan a Paytm merchant QR code and pay with your Paytm Postpaid limit or use the rent payment option.
Some suggest buying a Paytm gift card on Zingoy with your Paytm Postpaid money. To be honest, it’s an expired trick, now you can’t buy gift cards on Zingoy through Paytm Postpaid. Because it has removed Paytm Postpaid as a payment method.
>> Also Read – How to Transfer Money From Simpl to Bank Account? No Charges
2 Paytm Postpaid to Bank Transfer Tricks
Currently, there are only two easy and effective methods of transferring Paytm postpaid money to a bank account – scanning a Paytm business QR code and making rent payments.
Scan a Paytm Merchant QR
The first method you can try is that, scan a Paytm merchant QR code and pay the amount you want to transfer from your Paytm postpaid. Once the payment is done, tell the merchant to return the money to you.
But it could be quite frustrating because the merchant may not cooperate with you. So, it would be better if you create your own Paytm merchant QR code and use it for transferring your Paytm Postpaid balance.
Once you create your Paytm merchant account, follow the steps given below.
Step 1: Open the Paytm app on your mobile and tap on the “Scan & Pay” option as marked in the screenshot below.
Step 2: Now scan your Paytm business QR code and then enter the amount you want to transfer from your Paytm Postpaid.
Step 3: There you can see the option to choose a payment method. Choose Paytm Postpaid as a payment method and proceed to pay.
Step 4: Then pay the amount as you usually make payments through Paytm Postpaid. Once payment is done, the amount will be transferred to the Paytm merchant account.
Step 5: Now open the Paytm Business app. There you can see the money you have transferred from your Paytm Postpaid.
Step 6: The money will be automatically transferred to your bank account the next morning. However, if you want, you can also immediately settle the payment and transfer it to your bank.
“Make sure that the bank account to which you want to transfer your Paytm Postpaid balance is linked to your Paytm Business account.”
Make Your Rent Payment
The second method you can try is to use the rent payment option in the Paytm app. You don’t have to pay your rent, you just need to use the Rent Payment option to transfer your Paytm Postpaid limit to a bank account.
If you don’t know how this works, then follow the step-by-step process given below.
Step 1: Open the Paytm app and then go to the “My Bills and Recharges” section on the homepage of the app.
Step 2: There you can see different recharge and bill payment options. You just tap on the “Rent Payment” option as shown in the screenshot below.
Step 3: After that, you will be asked to select the type of rent. You can choose the “House Rent” option.
Step 4: Now it will ask you to enter the Landlord’s bank account details. There you fill in your friend or a family member’s bank account details. If you want, you can also enter the UPI ID.
Step 5: Now enter the amount you want to transfer from your Paytm Postpaid to a bank account and then proceed to pay.
Step 6: Choose Paytm Postpaid as the payment method and complete the payment.
Step 7: Once you complete the payment, the amount will be sent to the beneficiary account. After that, take your money from the person whose bank account details or UPI ID you’ve added.
Remember – Paytm will charge 1.9% of the rent amount as a convenience fee. Suppose, if you make a rent payment of ₹2000, Paytm will charge ₹38 from you.
How to Use Paytm Postpaid Balance
So you have learned how to transfer money from Paytm Postpaid to bank account, now let’s see how and where you can use Paytm Postpaid.
To be honest, Paytm Postpaid is a great BNPL option available in India. You can use Paytm Postpaid for various online and offline transactions. More than 1 crore merchants in India accept Paytm Postpaid.
To use Paytm Postpaid, just apply for it and activate your credit limit by completing your basic KYC. Once you get approved, you can use your Paytm Postpaid limit for various transactions, such as –
- Online shopping and food orders
- Recharge and bill payments
- Subscriptions and movie ticket booking
- Scan and pay to Paytm merchants
We recommend you read where to use Paytm Postpaid to learn in detail about the benefits of Paytm Postpaid and how to use it.
Final Words
As Paytm does not allow users to withdraw their Postpaid limit, transferring money from Paytm Postpaid to bank account is a tricky process. However, it is easy if you have read this entire article.
Here we have shared 2 tricks to transfer money from Paytm Postpaid to a bank account, one is scanning a Paytm business QR code and making payments, and the other one is using the rent payment option.
Tell us which trick you found better and more effective. And, if you know about any other trick of transferring Paytm Postpaid money to a bank account, please let us know.
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