Paytm also gives us the facility to transfer money from one bank account other. However, users often complain that they are charged 5% convenience fee for transferring money from their Paytm wallet to a bank account. However, merchants money can be waived off by following these steps. Dear friend if you don't want to use Paytm services and you want to remove your all the detail on Paytm app then you can. Just open the Paytm app then go to bank section then you will select your account number and simple delete this. 3K views View 2 Upvoters. Go to Passbook - On the home screen of Paytm application, you will see many options on the. Balance transfer from your Paytm account to another Paytm account or bank account is allowed only after KYC as per the RBI guidelines dated October 11, 2017, Para 9, Point no. 9.1 (i) (g) and (k) (see applicable RBI guidelines here: bit.ly/ppiwallet) The PMLA (Prevention of Money Laundering Act) guidelines – section 12, point no.
Go to Payout Settings under the main Settings menu, select ‘Change’ in the Bank Details section and follow the on-screen instructions. In most cases, your bank account will be changed almost immediately.
When you add a particular bank account in Paytm UPI then it will automatically select as a primary account to receive money from others. But if you have added multiple bank account then only one account selected as primary (default) account. You will receive money in this account and also when you pay online on Flipkart, Amazon or any shopping portal using UPI then money will be deducted from this default account.
- Also Read:How to change Paytm UPI Address
What is the Primary/Default Paytm UPI account?
When you link/add multiple bank account in Paytm UPI, then you need to select one account as a primary/default account. Your Paytm UPI ID linked with this primary account, so if someone sends money to your UPI ID, it will be credited to your primary account. When you make payment by entering your Paytm UPI ID, the money will be deducted from your primary account.
So if you have added two or more bank account in Paytm UPI then you can select any one account as primary. You can change or remove the primary bank account anytime.
How To View/Check Paytm UPI Primary Account?
Just open the Paytm UPI section, and here you can see all linked (added) bank accounts. You can see your PRIMARY Account here as you can see below screenshot.
How to Change Paytm UPI Primary Account?
Suppose you have multiple linked bank account in Paytm UPI and you want to change your primary account then follow these steps:
Open UPI Section in Paytm.
In UPI Section, you can see the Saved Bank Accounts list. You can see here the current primary account.
To change the primary account, tap on the desired bank account and tap on Make Primary as you can see in the below screenshot.
That’s all, now this changed primary bank account will be used to receive money and for payment.
How to Remove Paytm UPI Primary Bank (default) account?
If you wish to remove the primary bank account in Paytm UPI then tap on UPI section and here you can see Saved Bank Accounts. Tap on Primary Account.
And next screen tap on Remove Bank option. That’s it.
After removing the primary bank account. your other added bank account will be select as a primary (default) account automatically. If you have a single bank account and you have removed it then you need to add a bank account again to use Paytm UPI.
FAQ
Q.1: Can a person with two different bank accounts linked with Paytm do money transfers between the banks?
How To Delete Bank Account From Paytm Money
Ans: No, only your primary bank account will receive the amount transferred to you. If you have two or more bank account linked with Paytm UPI then you can select or change any bank account as primary (default) account.