How to Receive Money Directly in Bank Account Via Paytm
How to Receive Money Directly in Bank Account Via Paytm

How to Receive Money Directly in Bank Account Via Paytm? Well, if you are asking this question to yourself for a very long time then, this article is for you.

As soon as the Digital Payment Service gains popularity in India, many Digital mobile payment applications start launching in India. Past Year, Google introduces its brand new Tez App. In fact, WhatsApp also adds the payment feature to its application. But before all these Apps Paytm started digital payment service in India. Its best-looking interface and a lot of important add-ons have made people’s experiences so good.

But still, there are some features which are missing in this great application. For example, if we want to send money to someone, then that money does not go directly to their bank account. Another one is, suppose you are sending payments to someone and for some reason, the transaction fails, then the amount goes to your Paytm Wallet, not your bank account. But now soon all these imperfections will remove out from the box. Let us tell you about the upcoming two features of Paytm in detail. We will also be going to tell you to How to Receive Money Directly in Bank Account Via Paytm?

Upcoming Two Features in Paytm

If Your Transaction fails, the money will directly go to the Bank Account

Presently, if a user sends money to another user, and for any reason, that transaction fails, then that money goes to the senders Paytm Wallet. The sender will deposit that money in his/her bank account only when he/she refunds the money.

But now, with this latest update of Paytm, Failed transaction’s money will automatically go to the Bank Account. Currently, this feature is available in the beta version of Paytm which is Version 6.6.3.

If you are using the beta version of Paytm, you can activate this feature right now in the following way.

  1. To activate this feature, first, you have to open your Profile section.
  2. Then scroll down to the bottom and open Saved Payment Details and Settings.
  3. At the bottom of this section, you will see Add Money Refund Back to Source option, turn it on.

Note: This feature is currently in beta version. If Paytm bring this feature in the Normal version, you can still activate this feature in the way described above.

Receiving money Directly to the Bank Account

At Present, if you send money to anybody via Paytm, and wish that the money goes to their bank account directly, then, first of all, you have to fill their bank details. But now this new feature will make it easy. How? If you send money to some user, and if he has already activated this feature in his Paytm account, then you will not need to fill his bank details again and again. You will transfer the money by only filling his mobile number which is registered in his/her Paytm account. As soon as you transfer the money, that money will be deposited directly into their bank account.

How to Receive Money Directly in Bank Account Via Paytm? Guide

  1. First of all, you have to open your Profile section.
  2. After this, open the Accept money option.
  3. Here you will see an option to Add your Bank Account, open it and fill in your bank details.
  4. After completing all these processes, the bank will send you an OTP, fill that OTP in the space provided.

As soon as you fill the OTP, this feature activates. Now if any user sends you the money, then the money will be deposited directly in your bank account.

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