02 Jun

What Is Paytm Cashback? (All You Need to Know!)

Who doesn’t want to shop from their favourite brands at cheaper rates? Of course, everyone does! We often spend hours and hours crawling different websites over the internet to find the latest discounts on brands, outlets, and retailers, right?

What is Paytm cashback? Some of us wait for a long time to get our favourite brand to come up with the annual sale, yearly sale, black Friday sale, or even mid-year sale. So, what could be the solution, and is there any platform where we can purchase everything with the cheaper rates and discounts? Why not!

What is Paytm cashback?

Paytm Cashback is India’s largest cashback and shopping website that lets you shop from your favourite brands at cheaper rates. Not only this, the company provides you with a handsome amount of cashback on each transaction and purchase you make over the platform.

Paytm was established back in 2010 with a small network of few members and affiliated brands. The company aims to let everyone from every class shop over a single platform – PAYTM. So, whether you are looking to shop from your favourite clothing brand or a favourite food restaurant.

Either it’s a favourite smartphone brand or a favourite electronic name, favourite insurance company, or a favourite automobile brand, Paytm lets you shop everything you want within minutes.

On each purchase or transaction, Paytm offers a handsome cashback amount in your wallet that you can further use to transfer to your bank account, any other Paytm account holder, or can also keep your funds in your wallet to use for further shopping.

With the largest networks of thousands of brands and millions of trusted clients, Paytm ensures to provide you with the full funds’ transparency that you can access anytime by logging in to your account. Let’s understand further what Paytm is in actuality and how does it work.

 

How can I transfer a cashback received money into a Paytm wallet?

Paytm pays you a particular cashback amount on each purchase or shopping you make over the platform. The earned cashback automatically gets added into your Paytm wallet that you can transfer to your bank account, any other Paytm account holder, or can also keep your funds in your wallet to use them for further shopping.

Paytm allows its users to have full access to their funds. You may view your account status anytime you want and can utilize funds anytime and anywhere upon your choice. However, cashback transactions might take a day or two to get tracked into your Paytm account, but once it is, you can then use it anytime.

The minimum transfer limit to your bank account that Paytm requires is Rs.2000, and it charges around 3% on each transaction you make. On the other hand, there is o transaction limit if you want to transfer your cashback wallet funds to another Paytm account holder.

Can we transfer Paytm cashback money to another Paytm account?

Yes, you can quickly transfer money from your Paytm account to any other Paytm account holder using different methods:

The first method allows you to transfer money to another Paytm account holder by scanning the QR code of the person you want to send money to. For this particular purpose, you need to ask the receiver to send the QR code screenshot to scan and transfer the funds.

Once the code the scanned, Paytm automatically fetches the account data of the recipient. All you have to do is put in the amount that you need to transfer and then click on “Pay.”

The second method of transferring funds to another Paytm account holder is by using the recipient’s phone number. Simply log in to your account and click “Pay” from the top left in the menu bar.

If you don’t remember a phone number, you also fetch it by syncing your mobile’s contact list. Enter the amount you want to pay and tap to “Pay,” and your funds will be transferred to the particular account holder.

 

Can we use cashback money in Paytm for shopping?

Well, the aim of the company to facilitate audiences with an easy shopping environment with lower rates. So, Paytm doesn’t only let you hop and earn but allows you to use your earned money whenever you want for further shopping.

Paytm offers you cash back on each transaction or on each purchase you make over the platform. The cashback you receive in your wallet can be used anytime you want for further shopping.

You can either have your earned cashback in your Paytm wallet account or may also withdraw it anytime. Paytm offers you full stats over your available funds, past spendings and transactions, and everything else that a user can require from a trusted company.

The more you shop, the more you earn, leading you to have more cashback in your account that allows you to shop more on your favourite outlets and brands.

Moreover, Paytm also allows you to utilize your available cashback funds to pay utility bills, rentals and pay to confirm the tickets. You can even use your available funds in petrol pumps to full the fuel.

The company aims to make your shopping more accessible in every single possible way and allow you to use your funds either in online shopping or to pay your bills.

 

Is it possible to transfer earned Paytm cashback to a bank account?

Yes, you can transfer your earned cash back wallet amount to any bank account you want. Paytm allows you a straightforward and simple method to transfer funds in your bank accounts. You need to follow the following steps to make your funds visible in your bank account:

• Open the application and log in to your Paytm account using your valid credentials.
• Go to your account wallet and then tap to “Pay.”
• A new window will appear with the form to be filled in. Fill in all the details of the beneficiary bank details you want to send money, including beneficiary name, account number, account branch, state, etc.
• Paytm will then send you a verification message to verify if the actual account holder is trying to connect the bank account with the particular Paytm account.
• After the user verifies, you need to put in the quantity you need to send from your ownPaytmwallet. After that, you only have to click “Pay”, and the amount will be delivered to your own bank account.

Paytm offers full transparency to its clients that they can view and transfer funds anytime they want. It totally depends upon the account holders if they want to keep the earned cash back in their account to further use in shopping or either they prefer to withdraw it.

Paytm believes that every amount you earn should be conveniently available for you to use whenever you want. Therefore, the platform ensures full-time availability for you to shop and earn one every purchase you make over the platform.

 

 

Can I send Paytm cashback money from my Paytm wallet to any friend?

Yes, Paytm allows you to transfer your Paytm wallet funds to your friends or another Paytm account holder quickly. You may install the application, or either may also use the web app to transfer funds anytime you want, following the few easy steps:

Ensure that you have launched the Paytm application on your phone. If you do not have it, install it from your phone’s play store and log in to your account.

Right after the login, you will see a menu screen, find “Pay,” and tap to it. Now, you need to fill in the form with the user’s contact number or your friend with whom you want to transfer your money. You may also access the contact number from your phone if you do not remember it.

Now, enter the amount you want to pay and click “Pay.” You will receive a payment notification within a short period, and the receiver to who you send the amount will immediately receive the amount in his/her wallet.

There is another way to transfer funds. Each Paytm account holder has a unique QR code that can be used to transfer the funds from one account to another Paytm account. For this purpose, scan the QR code of the account holder you want to send money, enter the amount, and pay. The receiver will receive the amount within minutes that he/she can see in her Paytm wallet.

 

Is it possible to transfer my own cashback from my Paytm mall wallet to my own bank account?

One of the facilities that Paytm provided to its client is you can transfer your cashback funds to your bank account anytime you want. So, either you are a person who prefers using the Paytm website or mobile application, both platforms provide you with an easy way to transfer your earned cashback amount from Paytm mall wallet to any bank account.

Moreover, Paytm uses IMPS, Immediate Payment Service, on its platform to let you transfer your faster than ever before. In order to use the IMPS service in your account, you need to fulfil the following requirements, which includes:

• You should register on Paytm using your mobile and valid email address for at least 45 days.
• You need to have at least Rs.2000 cashback balance in your account
• Your cashback transaction amount should exceed at least Rs.1000
• You may transfer money from Paytm cash wallet to your bank account with a daily limit of Rs.5000 and a monthly limit of Rs.25000.

 

Paytm offers your two effective transaction ways from wallet to a bank account. Let’s have a look at these two ways:

 

1. Transfer your Paytm cash wallet funds to your account using a mobile app

Follow the following steps to successfully transfer your funds from your cash wallet to your account through mobile:

• Open the Paytm application installed on your phone
• Find passbook in your menu bar and then click on it
• A new window will appear and tap to “Send money to my bank.”
• Next, tap to “Transfer” to proceed with the process
• Now, add your beneficiary bank account details where you need t transfer the funds. Make sure all the entered information is correct before submitting the form.
• Here your whole cashback earned funds have been transferred to your bank account.

 

2. Transfer wallet funds to a bank account with 4% charges

This mothed uses the web mechanism and allows you to transfer funds to your bank account with up to 4% charges on each product. Follow the following steps to make the transaction in your Paytm account:

• Login to your account and go to Payment Wallet
• Tap to transfer money to a bank account
• Enter the account holder name and bank name
• Tap to IFSC code to enter, then select one of the following options:
• Enter state
• Select city
• Enter the branch of your account, then click the submit button

In case if you receive an error message stating that your account is not in a state to transfer money to a bank account, then follow the following steps to enable it:

 

• Type “TMS” and send it to 53030 using your registered mobile number (this message will deduct standard charges) to activate wallet funds transfer in the Paytm account.
• You will receive a confirmation message along with the code. After the code verification, you to wait for a minimum of two days to a maximum of seven days to get the services activated.

 

The minimum transfer limit from your Paytm wallet to the bank is a minimum of Rs.2000, and the company will charge around 4% charges on each transaction.

 

Conclusion

Paytm is the foremost cashback and earning platform in India. With the experience over the decades, the company has now collaborated with all India’s leading brands, helping people make their shopping easy on a single platform with the amazing discount that one can ever desire.

The company aims to provide its clients with the best one-stop-shop experience where they cannot only shop from their favourite brands at lower rates but can earn handsome cash back on each purchase or transaction they make over the platform.

Whether you want to shop for fashion or accessories, from kids to women, from the internet to broadband, from travel to insurance, food or medicine, or any other store. Paytm has everything to offer you with the quick cashback funds withdrawal and transfer policy.

You may use your cashback funds anywhere and anytime, either by transferring them to your account or keeping them in your Paytm wallet for further shopping.