Everything you need to know about interbank fund transfers - Paytm Payments Bank Blog:- www.deekpay.com

Easily experience online fund transfers to any bank account, anytime, anywhere in your Paytm Payments Bank savings account. Here are some of the information you should know:

**How to transfer money from your Paytm Payments Bank account? **

1. Click on the "Funds Transfer" icon in the banking section of the Paytm App.

2. Fill in the payee details or select the added payee from the list.

3. Enter the amount of the transfer and click "Continue". You will now see an approximate time frame for the recipient bank to process the transfer.

4. Use your password to authorise the transaction and you are done! Next, you will see the transaction confirmation page.

**Transfer schedule:**

- Transfer up to Rs. 1 lakh to Paytm Payments Bank account with instant credit 24/7, including Sundays and public holidays.

- Transfers of up to Rs 20,000 to other bank accounts are made through Instant Payment Service (IMPS), which is available in real time and available 24/7, including Sundays and public holidays.

- Transfers to other bank accounts exceeding Rs. 20,000 to Rs. 100,000 are done through National Electronic Funds Transfer (NEFT). It may take up to 2 hours for the receiving bank to transfer the funds to the recipient's account.NEFT is available during bank working hours i.e. 8:00 a.m. to 6:30 p.m. and batch settlements are arranged every 30 minutes.

**Other Frequently Asked Questions:**

1. If the Payments Bank limit is Rs 10,000, how can I transfer more than Rs 10,000 in one go?

The limit of Rs. 10,000 is the end of day balance limit of the account. The account can hold unlimited amount during the day. At the end of each day, the excess of Rs. 10,000 will be transferred to a fixed deposit with our partner bank.

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

Savings account customers can transfer up to Rs 100,000 per day.

3. How much do I have to pay to transfer money from my savings account?

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

4. What happens if my transfers below Rs 20,000 are in pending status?

Transfers up to Rs. 20,000 are done through IMPS. If such transactions are pending, the funds will be returned or transferred to the recipient's account within 24 hours as per NPCI guidelines. In case of non-completion, our team will contact the recipient's bank. In such cases, the refund may take up to 3 days.

5. Why are transfers above Rs 20,000 not instant?

Transfers above Rs 20,000 are done through NEFT. In this mode, RBI arranges batch settlement every 30 minutes. Normally the receiving bank may take up to 2 hours.

6. Can I transfer more than Rs. 20,000 to an account other than Paytm Payments Bank on my official holiday?

No, since NEFT is not available during public holidays, it is not possible to make transfers of more than Rs 20,000 each. However, transfers up to Rs. 20,000 per transfer can be made during public holidays through IMPS mode.

7. How long do I have to wait for a refund to my savings account if my transfer of Rs 20,000 or more fails?

Transfers above Rs 20,000 are done using NEFT. The receiving bank is required to refund failed transactions within 2 hours. In some cases, the receiving bank may take up to 24 hours.