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How can I transfer 200000?

Transfers up to Rs 2 lakhs to Other Bank Accounts are done through IMPS (Immediate Payment Service) which is real-time and available 24×7 including Sundays and bank holidays. Transfers greater than Rs 2 lakhs and up to Rs 10 lakhs to Other Bank Accounts are done through NEFT (National Electronic Funds Transfer).

paytmbank.com - All you need to know about Bank-to-Bank Fund Transfer
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Experience secure and smooth online fund transfer to any Bank account from your Paytm Payments Bank Savings account, anywhere and anytime at your fingertips.

Here’s all that you should know:

How to transfer money from your Payment Payments Bank Account?

Tap on the Money Transfer icon within the Bank section on your Paytm App icon within the on your Paytm App Fill up the receiver’s details or select an already added receiver from the list Enter the amount to be transferred and tap Proceed. Now you will see the tentative time the receiver’s bank will take to credit the receiver’s account Authorize the transaction using your passcode and you are good to go! You will now see the transaction confirmation screen

Timings for Money Transfer:

Transfers up to Rs 10 lakhs to accounts in Paytm Payments Bank are instant and available 24X7 including Sundays and bank holidays Transfers up to Rs 2 lakhs to Other Bank Accounts are done through IMPS (Immediate Payment Service) which is real-time and available 24×7 including Sundays and bank holidays Transfers greater than Rs 2 lakhs and up to Rs 10 lakhs to Other Bank Accounts are done through NEFT (National Electronic Funds Transfer). The Receiving Bank can take up to 2 hours to credit the money in receiver’s account. NEFT is available during bank working hours i.e. 8:00 am to 6:30 pm and settlement happen in batches scheduled at every 30 minutes

Other Frequently Asked Questions:

1.If Payments Bank limit is Rs.1 lakh then how can I transfer more than Rs.1 lakh in a single transaction?

The Rs. 1 lakh limit is the end of the day balance limit in your account. There is no limit on amount that your bank account can hold during the day. At the end of each day, the amount in your account that is more than Rs. 1 lakh is swept out into a Fixed Deposit with our partner bank.

2.What is the maximum amount that I can transfer from my savings account?

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Savings account customers can send up to Rs. 10 lakhs in a day.

3.How much am I charged for fund transfers from my savings account?

Transferring funds from Paytm Payments Bank savings account is free of cost. We do not charge users for fund transfers from their savings account.

4.What happens if my fund transfer of up to Rs. 2 lakhs goes into Pending State?

Fund transfer of up to Rs. 2 lakhs is done through IMPS. If such transactions go into a pending state, as per NPCI guidelines, the funds would be either reversed or credited to receiver’s account within 24 hours failing which, our team would take this issue up with the receiver’s bank. In such cases reversal could take a maximum of 3 days.

5.Why fund transfer for transactions above Rs.2 lakhs doesn’t happen instantly?

Fund transfers above Rs. 2 lakhs are done through NEFT. In this mode, settlement happens at RBI in batches scheduled at every 30 minutes. Usually receiving banks can take up to 2 hours

6.Can I transfer funds above Rs. 2 lakhs per transaction to accounts outside Paytm Payments Bank on bank holidays?

No, fund transfers above Rs. 2 lakhs per transaction to other Bank accounts can’t be done on bank holidays as NEFT is not available. However, fund transfers up to Rs. 2 lakhs per transaction can be done on bank holidays through IMPS mode.

7.How long do I need to wait for my funds to be reversed to my savings account if my fund transfer for transactions above Rs. 2 lakhs fails?

Fund transfers above Rs. 2 lakhs are done using NEFT. The receiver bank is required to reverse the funds against the failed transaction within 2 hours. In some cases, Receiver Bank can take up to 24 hours to reverse the funds.

paytmbank.com - All you need to know about Bank-to-Bank Fund Transfer
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