How to transfer money from debit card to bank account

A debit card is basically an extension of a bank account which lets people transfer funds using the online mediums. Debit cards can be used for not just one, but multiple purposes including online money transfers, online e-commerce transactions, etc.

Paytm mobile application allows users to transfer money online using a debit card. Thinking about how? This blog has all your answers, so read on!

Transfer Money Online Using a Debit Card on Paytm via UPI

Follow these steps to learn how you can transfer money online using a debit card on the Paytm mobile application-

• Open the Paytm mobile application and click on the ‘To Bank A/c’ option under the ‘Send Money’ section

• Next, click on ‘Enter Bank A/c Details’

• Out of the given options, select the bank account linked with your registered mobile number as your Paytm number

• Now, enter your bank account details such as account number and IFSC anad set your MPIN, which will work as an authentication code for you to process transactions. Once your MPIN is set, your Virtual Payment Address (VPA) will be created, which can be used for further transactions on the Paytm app

• On the next screen that appears, enter the amount that you wish to transfer. You can also add a ‘message’ for the receiver on the Paytm app

• Upon successful verification or the details, the entered amount will be deducted from your bank account and will be transferred to another account

Transfer Money Online Using a Debit Card on Paytm via Wallet

Alternatively, you can also use Paytm’s wallet to transfer money online using a debit card. All you need to do is use your debit card details to add money to your wallet and simply transfer the funds to another bank/UPI account as and when you require.

The following steps explain how you can add money to your Paytm wallet using your debit card-

• Log in to the Paytm app using your credentials
• Go the ‘ Paytm Wallet’ section on the home screen of your app
• Enter the amount that you wish to add from your debit card to your wallet and click on ‘Proceed to Add’
• Select the debit card from which you wish to add money from the list of options available
• An OTP will be sent to your registered mobile number for the purpose of authentication
• Enter the OTP to confirm the transaction
• Upon successful payment from your debit card, the amount will be added to your Paytm wallet
• You can use this amount to send money to any other bank account, UPI ID, or the like

Paytm is a mobile payments application that supports various money transfer services. Whether you wish to use UPI, NEFT, RTGS, or IMPS – Paytm has it all. Moreover, Paytm does not involve any charges for carrying out transactions. Here are some of the reasons why you should use Paytm to transfer money online using a debit card-

• Paytm is an easy, simple-to-use application
• You can carry out a UPI transaction on Paytm using either QR code, UPI ID, by entering the IFSC code
• Paytm follows all the rules and regulations as laid down by the Reserve Bank of India; hence, it is a completely safe and secure platform
• The Paytm application offers 24*7 customer support service in case of any queries or questions
• There is a UPI transaction limit per day of Rs. 1 lakh on the Paytm application
• There are no UPI transaction charges on the Paytm application
• Simplified, hassle-free online payments
• Safe and secure mode of money transfer
• Allows you to make payments towards your bills, shop on e-commerce websites, etc.
• Lets you make payments by scanning QR codes at your nearby departmental stores, chemist shops, etc.
• Regularly paying through UPI also helps you earn discount vouchers, cash back, and other rewards

To Conclude:

UPI and wallet transfers are two of the most common and useful ways to transfer money online using a debit card. You can carry out both these types of transactions on the Paytm mobile app.

FAQs

How can I transfer money online using a debit card?

UPI and wallet transfers are two of the most common and useful ways to transfer money online using a debit card. You can carry out both these types of transactions on the Paytm mobile app.

Can I use Paytm wallet to transfer money using a debit card?

Yes, you can easily use Paytm wallet to transfer money using a debit card. All you need to do is ‘Add money’ to your Paytm wallet through your debit card and make the transfer as and when you require.

How is UPI helpful to transfer money online using a debit card?

UPI is one of the most convenient and safest ways to transfer money online using a debit card. It takes only a few minutes of your time to make the transfer and involves quite a simple and hassle free process.

What are the advantages of using Paytm for online money transfer?

Paytm offers the following advantages for online money transfer-

• Paytm is an easy, simple-to-use application
• You can carry out a transaction on Paytm using either QR code, UPI ID, by entering the IFSC code
• Paytm follows all the rules and regulations as laid down by the Reserve Bank of India; hence, it is a completely safe and secure platform
• The Paytm application offers 24*7 customer support service in case of any queries or questions
• Simplified, hassle-free online payments
• Safe and secure mode of money transfer
• Allows you to make payments towards your bills, shop on e-commerce websites, etc.
• Lets you make payments by scanning QR codes at your nearby departmental stores, chemist shops, etc.
• Regularly paying through UPI also helps you earn discount vouchers, cash back, and other rewards

Mehak Bagla is a financial Content Writer with over 3 years of work experience in the industry. She is a passionate writer with professional approach in digital marketing. In her spare time, Mehak loves to write, travel, and listen to music.