Benefits & losses of adding money to paytm wallet

Benefits & losses of adding money to paytm wallet



Benefits & losses of adding money to Paytm wallet,


Advantage vs disadvantage of adding money to paytm wallet – It’s fast, safe gives cashback on recharge & bill payment, ticket booking & shopping. But there is very few some disadvantage also. See all advantage & disadvantage for better awareness.


Benefits / Advantages –


  • It is fast & safe,
  • No need to carry debit or credit card means fewer chances from being fraud,
  • Easily return money to the same bank when you required money,
  • Transfer money from Paytm to bank account as low as 0%,
  • Get cashback on most of the store using paytm wallet,
  • Less documentation at your home to upgrade paytm wallet limit (It may not be available for all cities but easily available in all major cities)
  • Good wallet limit for KYC customer (25k) & Non-KYC customer (20k) both.
  • Easy & automatically refund from store to paytm wallet refund in case of cancellation of goods or services from a third party store.
  • Transfer money to the bank at any time at a nominal charge (right now it is free).


Loses / Disadvantage –


  • Worst customer support in case you need help,
  • It can take 3 – 21 days if you want to return money back to same bank account, by which you added paid money, but it’s free always,
  • Transfer money from paytm wallet to bank account may charge you 1% – 4% if you are not an upgraded paytm wallet user (But right now it is free),
  • You can lose your available Paytm cash if you losses you mobile,
  • Dependency on the internet while paying money as compare to using cash,
  • Not available on all major online & offline stores, means you have to keep your debit/credit card with you if you are going to buy from such store.


Other important facts about paytm


Is it possible to Add money to wallet and after getting cashback transfer it to bank account?.


Add money to Paytm wallet & transfer to the bank account – If you are adding money by thinking so, you may not get benefits, because you will be able to transfer money from wallet to bank but you might be charged 4% of the money being transferred. So you will not get any profit or loss.

Do you have an upgraded paytm wallet? – If you have upgraded Paytm wallet, then you will be charged at 1% (But right now it’s free) of the money being transferred to the bank, so upgraded paytm wallet user can take benefits from this trick, you can upgrade your paytm wallet by submitting KYC to paytm.


So be sure carefully before adding money in paytm & then to bank account providing any extra benefits or not.



Is it possible to add money first to wallet and then buy product or recharge on paytm?


You can easily do this with wallet but in 0.01% cases paytm gives you good offers on recharge with credit or debit card payment only in that case you may not get benefits from paytm wallet transactions. While till now there is no condition on shopping at paytm & payment using the wallet for goods & services on third party (partners) stores.

In other words, you can add money to paytm wallet for fast, secure & easy payment option, you will also get cashback on shopping, recharge, bill payment & all other service using paytm wallet money.



Then what are benefits if I can’t get cashback on recharge with wallet money.?


There are many other services like Train ticket booking, Shopping on other sites where it will be good if you add money to wallet and shop on other site or on paytm too.



Can I shop on paytm and transfer paytm wallet balance to the bank account?


You have to follow some step before shopping. See the article shop and transfer paytm wallet balance to bank account free of cost.



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