Since its inception in 2010, Paytm has become India's one of the most popular digital payment apps. It allows you to conduct cashless transactions easily through its digital medium.
The app eliminates the need to carry a physical wallet, as you can make transactions or purchases with just your mobile phone. To use the app, you need to add money from a credit card to your Paytm wallet. You can also use a debit card for the same.
Other options that you can try include net banking or UPI and linking your bank account. If you want to use a credit card and are wondering how to add money from a credit card to Paytm, here is what you need to know.
The digital payments giant, Paytm offers many functionalities on its app. Among them is its proprietary virtual wallet called the Paytm wallet. You can use this wallet to store money and to make payments at several online or QR code-based offline outlets.
The wallet allows you to send or receive money and make utility bill payments. This makes the Paytm wallet a handy payment method instead of using cash.
Tap on your profile picture on the top left of the Paytm app
Go to ‘UPI and Payment Settings’
Click on ‘Saved Cards’ and click on ‘Add New Card’
Accept a reimbursable debit of ₹2 for verification
Enter your details, click on save details, and then ‘Pay ₹2’
Enter the OTP you receive on your registered mobile number
Your limit to add money depends on your KYC status. When you meet the minimal KYC parameters, you are eligible to add up to ₹10,000 every month to your Paytm wallet. However, if you complete all the criteria set by the RBI, you can transfer up to ₹99,999.
The minimal KYC criteria include providing details like your name and a unique ID number using ID proof such as your passport. You can complete this process in minutes.
Full KYC requires you to share essential information, along with a home visit by a Paytm representative for further verification. This process is complete in a few days.
Knowing the applicable charges to add money to the Paytm wallet from a credit card is essential. Here is a closer look at different charges that may apply.
Parameters |
Charges |
Adding money through credit cards |
Up to 2.5%, excluding GST |
Transactions involving an American Express credit card, corporate credit card, or prepaid credit card to load money into a wallet |
|
Adding money to the wallet using net banking (other than Paytm Payments Bank) |
Up to 1.5%, excluding GST |
Transferring money with UPI |
Free |
Disclaimer: The above charges are subject to change at the company’s discretion.
Now that you know how to add money to Paytm from a credit card, check out more details regarding credit solutions and other financial products on Bajaj Markets. Additionally, the platform allows individuals to apply for an Insta EMI card to enjoy no-cost EMI shopping.
About Credit Cards Services
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- What is a Credit Card
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Yes, you can easily add money to your Paytm wallet from a credit card using the Paytm app or website.
No, you have to pay charges for money transfers from a credit card to Paytm of up to 3%. However, this varies according to the issuing bank.
The maximum limit to add money to a Paytm wallet from a credit card is ₹99,999.
The amount you can add to your Paytm wallet depends on your KYC status. If you meet minimal KYC criteria, you can only transfer up to ₹10,000. However, you are eligible to add up to ₹99,999 when you complete the full KYC process.
This may be because your credit card may not have been issued in India or is disabled for online transactions. In cases like insufficient credit limit or banks placing a specific transaction limit on your card, you may be unable to add money. Contact your issuing bank to resolve such concerns.
If you have sent money to someone without a Paytm account, they will receive a text message with a link to create their account on Paytm. If they fail to create their account on Paytm within 3 days, the money deducted from your account will be refunded.
You can transfer a maximum of ₹1 Lakh daily to any bank account using the Paytm UPI.
You may receive an SMS with your transaction details. Alternatively, you can check for information in the ‘Passbook’ section of your Paytm wallet.
All you need to do is select the ‘Request Wallet Statement’ option on the app’s ‘Manage the Wallet’ section. This way, you can view your Paytm wallet statement for the past one year (365 days).
