Paytm has enrolled a new UPI feature to its mobile wallet app. With this Paytm UPI feature, users will be able to link their BHIM UPI ID to their mobile wallet and will be able to send or receive money directly from their Paytm app. I personally used this feature and I must say it works perfectly. But users have to use this feature carefully. Today we will see how to create UPI address in Paytm or in other words, how to link bank account to Paytm wallet.
Feature that I liked the most in Paytm UPI is that you don’t need to add a person as a beneficiary to send or receive money. Usually, in internet banking or mobile banking service, if you want to send money to someone then first you will have to add that person to your online banking account as a beneficiary which takes time, but Paytm’s BHIM UPI feature lets you send money to anyone, anytime.
Benefits of using Paytm BHIM UPI feature:
- Send up to 1 Lakh using your Paytm UPI app.
- Send or receive money 24*7 including bank holidays.
- Receive any amount of money because there’re no limits on receiving the funds.
- Amount will be directly deducted/added from/to your bank account.
- Transaction fee is very low.
- No need to add benefeciary
To link your BHIM UPI ID to your Paytm wallet, first, you should have an active BHIM UPI ID. If you’v not registered on BHIM app yet then I’ve written a separate post on how to register on BHIM app. It’ll only take your 5-10 minutes so read that post first. If you already have registered on BHIM app then simply follow the steps given below to activate your Paytm UPI feature.
How to Create UPI Address in Paytm
Note: Register on BHIM app first. Read here how to register on BHIM app.
Open your Paytm app and tap on ‘UPI’ option.
Now, you will be asked to login. Note: Use the same mobile number that is linked to your BHIM app or bank account. Simply login to your Paytm account or if you’re not registered on Paytm then tap on ‘Create a New Account’.
In the next step, you will be asked to select a SIM card that is linked to your bank account. Simply tap on a SIM card that is linked to your bank account.
Next, you’ll be able to list of banks. Note: If your bank is not listed then tap on ‘Select from all other banks’. Touch your bank name from the list.
After touching your bank name, Paytm will start verifying your bank account details.
After successful verification, you will be able to use Paytm UPI feature.
That’s it. Now you will be able to send up to 1 Lakh per day using Paytm BHIM UPI feature and there is no limit on receiving the funds.