Paytm has multiple services to offer. The company also offers banking services to customers who have completed their Full KYC. When the KYC procedure is completed the customers will be given a bank account where they can deposit money. The customers also earn interest for the balance they have. In this guide, I will tell you how you can withdraw money from Paytm Bank without debit card.
If you wish you can apply for a Paytm Payments Bank debit card. Paytm will issue a new card for you and the same will be delivered to your communication address. But keep in mind that you will be charged for the issuance of the card. And at the same time, you will also have to pay the debit card annual charges. You can withdraw cash even without having a Paytm debit card.
How does this work?
Paytm has a large network of merchants who receive payments using the QR code of Paytm. Here the company is using the same network of merchants as a cash withdrawal network. So you can initiate the withdrawal and collect the cash from the store which you have selected. Before you get started with the withdrawal check if you have enough balance in your account. The company calls this “Paytm ka ATM”.
Can I Withdraw my Wallet Balance?
Yes, you can withdraw your wallet balance by transferring it to your Paytm Payments Bank account or any other bank’s account. This can be done only if you have completed the KYC of your wallet.
Steps to Withdraw Money From Paytm Account Without Debit Card
- Open the Paytm App.
- Login to your account by entering your registered mobile number.
- Tap on the “Bank” icon in the app.
- Login to your Paytm Payments Bank account using your passcode or biometrics.
- Once you are into your account tap on “Withdraw”.
- Choose the Paytm ka ATM (merchant) from where you wish to withdraw the money.
- Enter the amount you want to withdraw and tap on “Generate QR”.
- Visit the merchant and get the QR code scanned.
- Collect your cash from the merchant.
Conclusion
Before you visit the merchant location I recommend you to call the merchant and ask if the cash is available. You only have to show the QR code that is generated. So make sure you don’t share any of your sensitive account details with the merchant or anyone.