Paytm has made online transactions simple, which has contributed to its immense popularity among users. All you need to do is link your bank account, transfer money to your wallet and get started with your payments. Read on to know how to add a bank account in Paytm and the benefits you can get on doing so.
How to Link a Bank Account with Paytm?
Here is astep-wise guide to link a bank account in Paytm:
Step 1: Open the Paytm app and click on the profile picture or icon.
Step 2: Click the ‘UPI & Payment Settings’ options and select ‘Link Bank Account’.
Step 3: You will be directed to a new page where you must select the bank where you have an account.
Step 4: Often, you can automatically find the bank account if it is linked to the number that you have used to register with a Paytm account.
Step 5: Once you click on the bank account, Paytm will get automatically linked.
How to Add Another Bank Account in Paytm?
You can add another bank account in Paytm in some hassle-free steps to make transactions from different accounts. Following are thesteps to add a second bank account in Paytm for additional benefits:
Step 1: Open the Paytm app and click on the profile picture or icon.
Step 2: Click the ‘UPI & Payment Settings’ options.
Step 3: Next, click the ‘UPI & Linked Bank Accounts’ option.
Step 4: You will see the bank accounts linked to your Paytm account on the screen. Here, scroll down and click the ‘Add New Bank Account’ option.
Step 5: Choose the bank account and enter the necessary details to link to another bank account.
Once you have known how to add a new bank account in Paytm, you can link as many bank accounts as you want.
How to Transfer Money Using a Bank Account in Paytm?
Transferring money using the Paytm app is extremely simple. After adding a bank account in Paytm, you canfollow these various methods to transfer money in Paytm:
- Using Contact Number: All you need to do is select the contact from your phonebook or input the number to which you want to transfer money. Next, enter the amount and the PIN to complete your transaction.
- Entering UPI ID: Open the Paytm app and enter the UPI ID of your receiver’s bank. Next, input the amount that you want to transfer and enter your UPI PIN to send the desired amount within seconds.
- Scanning QR Code: With the Paytm app, remove the hassle of typing the receiver's phone number or UPI ID. Simply scan the UPI QR code of the receiver and enter the amount you want to send. Next, input your PIN and complete the payment.
- Entering Account Number: If you are planning to transfer money to an organisation and do not have a mobile number, UPI ID or QR code, you can send money by entering the account number. Next, enter the PIN to complete the transaction.
What Are the Benefits of Adding a Bank Account to Paytm?
Upon adding your bank account to your Paytm wallet, you can access numerous benefits such as:
- Seamless Online Transactions:You do not need to carry credit and debit cards to transfer money to your bank account. Paytm enables you to deposit funds directly without any hassle.
- Ensures Secure Fund Transfer:This UPI money transfer app strictly follows the RBI guidelines. Hence, you can stay assured that your financial and personal details are safe and secure.
- Completing Transactions Instantly: Paytm wallet transactions are simple and can be completed in seconds. So, purchase your favourite item and pay for it with some simple taps.
- No Screenshots or Video Recordings: When you make payments using this popular app, no screenshots or video recordings are taken. This ensures no third party can access your important details.
- Exclusive Cashback and Offers: Apart from seamless transactions, you can enjoy lucrative cashback and offers that can help you save substantially on purchases. Also, you can enjoy loyalty points on completing a payment.
- Both Online and Offline Payments: You can make various online bill payments and recharges using the Paytm app. Moreover, you can even pay to offline Kirana stores and restaurants without any hassle.
- Ease of Reviewing Passbooks: Not only do you make transactions, but the Paytm app also helps you track them. You can get all transaction records and filter them into specific types such as money paid, received, added to wallet, and more.
- Automatic Addition of Money: To ensure smooth transactions and never run out of money, Paytm automatically adds money to your wallet when it falls below a certain threshold. Also, you can use your preferred mode of payment to do this.
- Availability of Gift Vouchers:Confused about what to gift your loved ones on their anniversary, birthday or any other special day? Just send them Paytm gift vouchers so they can choose a perfect gift for themselves.
- Different Modes of Transactions: Paytm allows you to use up to four different modes of transferring funds: using a contact number, UPI ID, bank transfer or bank account. This makes it easier to complete all transactions without hassle.
Once you know how to add a bank account in Paytm, you can complete this process with just a few taps on the screen. You can also add more than one account in your Paytm app, after which you can go ahead with transactions using this app.
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