Paytm charging 4% for transferring funds from Wallet to Bank

I love the mobikwik lite app. so simple and fast. too bad no one in my locality seems to be supporting it right now so adding funds to it is useless for me. but it is nice to see a company going back to basics.
 
Nopes. This was the 1st transaction I did using Paytm this month. November 12 was when I last added money & it was not a lot, and over time it was down to single digit. Yesterday I reverted 10 rupees which went back to card via the portal transfer to bank link. Today I tried using app & the story was different.
 
Wow. I did not realize Paytm is doing IMPS (I thought NEFT) . I just got the credit in my bank account
 
well people expect instant results. though based on comments on their social media posts, a lot of people find their money lost in transaction or delayed in transaction. the one time i tested transfer to bank for the paan wala dude in my local market, it was also instant. though 1% charge was applicable at that time.

waiting for Paytm to add upi support. that should allow them to keep this for free in future as well. but then they are already pushing for transfer to payment bank accounts instead.
 
Paytm seems to have added bank transfer fees again this week.

R1rIOwb.png
 

Effectively they take about 4% profit from seller for the product sold.
 

Top