[Query] Paytm Wallet to Bank Account Transfer - Safe (Monthly) Limit ?

[sahil1033]

I keep availing time to time offer from Paytm wallet add money offer via credit card.

The lowest convenience fee I've encountered in my case is 2.35% for credit card. A few months ago, I transferred about Rs. 20k from wallet to bank account post which convenience fee shot up to 3.35%.

After several months of cooldown, convenience fee is back to 2.35% (for adding money to Paytm wallet via CC)

A few questions here :

- Some people have mentioned that convenience fee for adding money to Paytm wallet via credit card goes as low as 1.5%. If that's true, what should I do for this to happen?

- As I said, I keep adding money to Paytm wallet via credit card if there's a special offer available. I do want to transfer some amount from wallet to bank account but not like the last time which increased convenience fee. So, what should be a safe amount to transfer from wallet to bank account so that the convenience fee doesn't increase.

Any other recommendation with this particular scenario of mine, please do let me know.

P.S. Please don't look at it from the angle of rotating money. I simply add some money to Paytm wallet when there's a benefit and anyway I make use of Paytm wallet at places like fuel pumps and shops where RuPay CC on UPI is disabled. And for places where RuPay CC on UPI is disabled and the QR is not of Paytm, I use Paytm Payments Bank, for that very reason, I tend to transfer amount to bank account, that's it. I'm not at all interested in rotating money and all of this is highly occasional, it's only when I get cashback equivalent to convenience fee being charged.

 

[abhiver]

You can try transferring to paytm Merchant account from wallet.

Also it is risky but try to transfer to bank only when you are hitting the maximum limit of bank transfer if you have to. But in general scenario avoid Wallet to Bank and Using wallet to make CC bill payment as well.

 

[sahil1033]

You can try transferring to paytm Merchant account from wallet.

Also it is risky but try to transfer to bank only when you are hitting the maximum limit of bank transfer if you have to. But in general scenario avoid Wallet to Bank and Using wallet to make CC bill payment as well.

any specific reason for that? I mean, transferring merely Rs. 5k per month from wallet to bank shouldn't do any harm I guess.

 

[abhiver]

I am sure paytm system doesn't increase Convenience charges based on the amount.

Transferring money from wallet to bank is a red sign and it doesn't matter how small or big your crime is, they have only one penalty 😂😂.

They have increased my fee from 2.35 to 4.35% in past. But that time I have transferred around 70K 😁

 

[sourpai]

Do you avail the offers such as add money via cc and get 1.5% fuel cashback? In that case net convenience fees comes down to 0.85%

I have seen people (who transfer money back to acc) with higher convenience fees getting higher cashback offers also .. to the tune of 2.5% cashback in fuel wallet (sometimes). You can use that and reduce the net convenience fees.

But for your use case (non rotation) sending money back to account is not worth it. Just use regular UPI where Paytm QR is not there. For places with Paytm QR, you net convenience fees will be 0.85%

 

[sahil1033]

I am sure paytm system doesn't increase Convenience charges based on the amount.

Transferring money from wallet to bank is a red sign and it doesn't matter how small or big your crime is, they have only one penalty 😂😂.

They have increased my fee from 2.35 to 4.35% in past. But that time I have transferred around 70K 😁

It's in their T&Cs, if transferring more than Rs. 5,000 per month from wallet to bank, Paytm can increase the convenience fee incurred on adding money to wallet via credit card.

 

[sahil1033]

Do you avail the offers such as add money via cc and get 1.5% fuel cashback? In that case net convenience fees comes down to 0.85%

I have seen people (who transfer money back to acc) with higher convenience fees getting higher cashback offers also .. to the tune of 2.5% cashback in fuel wallet (sometimes). You can use that and reduce the net convenience fees.

But for your use case (non rotation) sending money back to account is not worth it. Just use regular UPI where Paytm QR is not there. For places with Paytm QR, you net convenience fees will be 0.85%

yes, I do avail the offer but only when cashback rate is equivalent to convenience fee charged for adding money to wallet via credit card. Generally it's 1.5% cashback in fuel wallet but very rarely, they come up with 2.35% cashback which is exactly the convenience fee rate charged to me and that's when I avail this offer, else, it's a PASS from my end even though I'll still be in profit since IDFC First Bank Wealth CC gives 1.5% reward rate in the form of reward points.

 

[_na_cheese]

What exactly does it say?

 

[sahil1033]

What exactly does it say?

my interpretation is, first you need to pay CC bill of Rs. 15k or more using WALLET350 promo code ... then you'll get a promo code I guess, using which you'll get 1.8% cashback in fuel wallet upto Rs. 350 when you add money to Paytm wallet via credit card

super bullshit offer 🤮

 

[abhiver]

Yeah, paytm has a history of giving useless and weird offer.

 

[_na_cheese]

Yeah, paytm has a history of giving useless and weird offer.

More like devaluations.

 

[deep@vie]

I keep availing time to time offer from Paytm wallet add money offer via credit card.

The lowest convenience fee I've encountered in my case is 2.35% for credit card. A few months ago, I transferred about Rs. 20k from wallet to bank account post which convenience fee shot up to 3.35%.

After several months of cooldown, convenience fee is back to 2.35% (for adding money to Paytm wallet via CC)

A few questions here :

- Some people have mentioned that convenience fee for adding money to Paytm wallet via credit card goes as low as 1.5%. If that's true, what should I do for this to happen?

- As I said, I keep adding money to Paytm wallet via credit card if there's a special offer available. I do want to transfer some amount from wallet to bank account but not like the last time which increased convenience fee. So, what should be a safe amount to transfer from wallet to bank account so that the convenience fee doesn't increase.

Any other recommendation with this particular scenario of mine, please do let me know.

P.S. Please don't look at it from the angle of rotating money. I simply add some money to Paytm wallet when there's a benefit and anyway I make use of Paytm wallet at places like fuel pumps and shops where RuPay CC on UPI is disabled. And for places where RuPay CC on UPI is disabled and the QR is not of Paytm, I use Paytm Payments Bank, for that very reason, I tend to transfer amount to bank account, that's it. I'm not at all interested in rotating money and all of this is highly occasional, it's only when I get cashback equivalent to convenience fee being charged.

Min charges are 2.35%.
I would recommend to use this fund for transactions as you're doing & for credit card bill payments.