Paytm is an online wallet and payment solution for bill payments and money transactions. We can use Paytm mobile app for merchant bill payments. By using Paytm payments bank, we can also transfer money from our bank account to other bank accounts.
Making transactions with Paytm wallet is fast and safe. For every payments we can apply promo code that gives extra savings in the form of cashbacks. The available promo codes will be shown when we click on apply promo code option during the transaction. There are wide range of promotional offers available across recharges, utility bill payments, movie and bus ticket bookings, shoppings, LIC premium payments, flight and hotel bookings, gold purchases and many other payments.
KYC Registration in Paytm
We have to register KYC with Paytm to use complete services offered by Paytm. KYC or Know your customer is a process of identifying Business and verifying it’s identity with business clients. To complete KYC with Paytm, we need to verify our identity by giving our basic identity details to Paytm. When we finish this, the Paytm representative will ask us to make an appointment for filling out the KYC form.
We need to share any of the identification details such as Identity card, Aadhar, Driving License, Passport, Voter ID with the KYC representative. This is to verify our Identity and Address details. The verification process will be completed within 10 to 20 working days. The completion of KYC will upgrade our Paytm wallet to Paytm Exclusive. The Paytm Exclusive have special benefits and discounts on certain Products. It offers better cashbacks and increased wallet limit.
The transactions done through Paytm wallet is encrypted with 128-bit SSL security for preventing unauthorized third party access. And the Paytm Payment Gateway is approved by Reserve bank of India and is safe to making online transactions. The Passbook option in the Paytm wallet is helpful to track all our transactions done in Paytm.
You can transfer money from your account to other bank accounts using Paytm. You need to link your UPI account with Paytm in order to make the transactions. You can also do bill payments and other merchant transactions using UPI. The Paytm account and our bank account must be linked with the same mobile number in order to use the UPI services. The bank transactions can done only through Paytm App.
Transfer Money from Bank Account to another Account
- From the Paytm home screen, click UPI money transfer.
- Click on add new Bank account.
- Select your bank and click next.
- Enter the Debit card details.
- You will now proceed to UPI creation.
- Create the UPI account with a UPI PIN.
- After the UPI creation, click on Transfer to bank account.
- Enter Receiver bank account details and amount.
- Proceed to complete the transaction.
The amount will now debited from your account and will become available in the another account. The UPI transactions are instant and highly secured. Through UPI, the user can sent upto 1 lakh during a day. If you are a receiver, you can receive money without any limit. You can receive money from others by using your Paytm mobile number or UPI id or through your Bank account details.
Paytm Postpaid Account
Paytm Postpaid is just like credit card where we can purchase on credit and pay this amount later. This service can only availed if you are having ICICI savings bank account and PAN number. They offer upto Rs.60,000 as credit limit for th Postpaid account. This credit limit will be based on your recent transactions on Paytm. You will receive bill statement at the beginning of every month. The money spend by you have to be paid back within 15th of coming month.
There is no interest or service charge for using this account. The Paytm user have to activate the Postpaid account from their profile settings to use Postpaid. The Payments from postpaid account is instant and gives faster processing without any payment failures. If you have linked your ICICI savings bank account with this service, your account will be debited automatically with the amount spend on previous month. There will be payment reminders during payable month and if you have pass the last date, there will be a late fee added along with the total payable amount. The Postpaid spend limit can be increased by clearing dues on time and by frequent use of this service.
For any assistance regarding the Paytm account, Postpaid account and transactions, you can directly contact them by calling their 24*7 available customer care number 12038883888.