How To Send Money From Wallet To Bank Transfer Free 2021

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.

There are many digital payment apps available on the app store. However, we have provided the name of popular platforms below.

  1. Paytm
  2. PhonePe
  3. Mobikwik

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.

Read More: Paytm Kyc Online Verification At Home

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.
How to transfer money from Paytm Wallet to Bank Account
Send money from Paytm Wallet to Bank Account
  • 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.

Read More: Transfer Money from ATM to another Bank Account

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.
How to transfer money from PhonePe wallet to bank account
How to send money from PhonePe wallet to bank account
  • 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”.
How to transfer money from Mobikwik to bank without charges?
How to send money from Mobikwik to bank without charges?
  • 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.

Final Words

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.

Disclaimer: All the information published here are for informational and educational purposes only. Moreover, all these information are researched from official sources. However, we will not warranty the information to be accurate and completed. Do not share your bank details or personal details in the comment box. For more queries visit the official website.

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