From Nov 9, pay 4% for transferring money from Paytm wallet to bank accountsPaytm already charges 3% when the users transfer money from their Paytm wallets to their bank accounts. From November 9, they will pay more for such transfers. The charge for transferring money from Paytm wallet to Paytm Payments Bank and other bank accounts for KYC customers will be 4%.

Paytm has long defended why it charges 3% when a Paytm user transfers money from Paytm wallet to their bank accounts. Paytm’s point was that it does that to recover the fees it pays to banks when a user adds money from bank account to Paytm wallet. When you add money to your wallet using credit card , debit card or bank accounts, Paytm claims to pay a fee to the bank where you hold accounts but don’t charge anything from you. As long as you use the money added in Paytm wallet to buy goods / services or transfer it to wallet of other users, Paytm doesn’t charge you anything.

But when you take your money from your wallet to your bank account, Paytm charges you for what it terms ‘recovering costs’. Hence, wallet to bank transfers are chargeable at 3%. Now, that 3% charge is getting more expensive at 4%. At 4% charge, it means you will pay Rs 400 as ‘charge’ for taking out Rs 10,000 from wallet to bank account. So, you will get a net amount of Rs 9,600 in your bank account.

To read about charges, visit –

Paytm charges for loading and wiothdrawal
Do remember that the wallet balance or money lying in your Paytm wallet doesn’t fetch you any interest. It’s not known if Paytm makes any money from using those funds.

However, to send money to your friends / relative, Paytm recommends you to use its bank to bank transfer feature which is free of cost (0%).

Also, thankfully, Paytm hasn’t slapped any charge for loading money into Paytm, purchase at merchant site and Paytm to Paytm wallet transfer. Paytm wallet to bank transfer for business partners is as per terms with the business partner.

Kumar Shankar Roy

Kumar Shankar Roy is contributing editor with RupeeIQ. He can be contacted on