In this 21st century, the whole world is revolving around the internet. In the past few years, digital payment wallet apps have emerged. These digital wallet helps us to receive payments. Moreover, you can also send money from wallet to bank transfer free or at low cost as well.
Whether you have Paytm, PhonePe, or MobiKwik app, but this question must have arisen in your mind. How I can do Wallet to Bank Transfer Free?
However, Wallet to Bank transfer for free totally depends upon the digital payment banks. In India, the popular platforms of digital payment apps are Paytm, Mobikwik, and PhonePe.
- Popular Apps for Wallet to Bank Transfer Free
- How to transfer money from Paytm Wallet to Bank Account
- How to transfer money from PhonePe wallet to bank account
- How to transfer money from Mobikwik to bank without charges?
- Which wallet is best for bank transfer?
- Which wallet to bank transfer is free?
- Final Words
Popular Apps for Wallet to Bank Transfer Free
There are many digital payment apps available on the app store. However, we have provided the name of popular platforms below.
Well, these are the names of those payment apps that allow the user to send money from their wallet to the bank. Now, we will explain to you the process to send money from the wallet to the bank account of each app.
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How to transfer money from Paytm Wallet to Bank Account
Now, we explain to you important steps on how to transfer money from Paytm to the bank. To send the money from Paytm wallet to the bank you have to follow the steps mentioned below.
- Open your Paytm App with your login credentials.
- Swipe to the right and click the “Wallet to bank” icon.
- Fill in the amount which you want to transfer to your bank account.
- Make sure you have sufficient balance in your wallet to proceed.
- After you have entered the amount click on the “Add New” icon to save a bank account.
- Now, enter your bank account no., IFSC code, and name of the account holder. Hit the “Proceed” button.
- A screen will display that shows the sending amount, charges, and the total payable amount.
- After you confirm all the details, click on the “Proceed” icon.
- This way the money will be sent from your wallet to bank transfer for free.
What is the Paytm Wallet to Bank Transfer Charges?
As of now, when this post is published the Paytm Wallet to Bank transfer charges are Nil and free of cost.
Read More: How to transfer money from credit card
How to transfer money from PhonePe wallet to bank account
Similarly, we will provide you some useful steps that will help you to transfer money from your PhonePe wallet to your bank account.
However, PhonePe does not have the wallet-to-bank transfer option like Paytm. Well, we have a trick that will help you to transfer your PhonePe Wallet amount to your bank account.
- Open your PhonePe app and make sure you have added your bank account to it.
- After that, under the “Investments” tab, click the “Gold” icon.
- Click on the “Buy Gold” purple button.
- Then, choose the “Buy in rupees” option and enter the amount that is available in your wallet.
- Now, click the “PhonePe Wallet/Cashback” checkbox and click on the “Buy” button.
- You will receive a payment successful message on the new screen.
- Now, you have to wait for 24 hours and more to sell the gold.
- After 24 hours again go to the “Gold” section and then click on “More Options”.
- On this new page, tap the “Sell Gold” button.
- Now, enter the amount of gold that you want to sell.
- Under the “Credit to” section choose your bank account in which you want to receive the payment.
- In the final step click on the “Sell” icon and the amount will be reflected in your account within 48 hours.
How much PhonePe charge to transfer the amount?
This process of sending money from wallet to bank account will incur some charges. However, it totally depends upon the current gold rate. Let’s say if you purchase gold of Rs. 100 then you can sell it around 90 rupees on the next day.
How to transfer money from Mobikwik to bank without charges?
Now, you will learn the easiest way to transfer money from Mobikwik to the bank without charges. However, it is not possible to send money from Mobikwik’s wallet to the bank for free.
There are some apps available that claim to send Mobikwik money to your bank account without any charges. But, we will not endorse the method of using any third-party app. Given below is the traditional method of sending money from Mobikwik to the bank.
- Open the “Mobikwik” app on your smartphone and click on the “Via Wallet”.
- Tap the “Wallet to bank” tab on the new screen.
- Now, enter the beneficiary name, bank account no., and Ifsc code and click on “Continue”
- It will cost 2% of the wallet to bank transfer charge as shown in the image above.
What are the charges of Mobikwik?
The Mobikwik will charge you 2% for wallet transfer to your bank account.
Which wallet is best for bank transfer?
As per my experience, Paytm Wallet is best for bank transfers. The reason is most of the time they offer free wallet to bank transfer without any extra or hidden charges. By the time, I am writing this post the Paytm is offering free wallet to bank transfer.
Moreover, their money sending mechanism is very fast and you will receive the amount instantly in your desired bank account.
Which wallet to bank transfer is free?
Paytm Wallet to bank transfer is free nowadays. However, wallet to the bank transfer for free is subject to change as per the individual decision of Paytm.
As of now, some of the above displayed apps are offering free wallet to bank transfer. However, it is up to them how much time they will give the wallet to bank account transfer for free.
Moreover, avoid using any third party website or apps to transfer the amount for free.