Paytm Bank IFSC Code and MICR Code | How to Open Paytm Payments Bank Account

Paytm Payments Bank

Digital money transfer is a common practice globally. Today people prefer fast and convenient, and safe money transaction channels. Paytm is a popular online money transfer platform, which operates globally and gives the ease of sending and receiving money. The Paytm Payment Bank IFSC code is a unique 11 digit alphanumeric code. It’s used for online money transactions, such as sending money to a bank account. Using online payment systems through smart devices. Bank customers also use the services to top up from other bank accounts to the Paytm payment banking saving account.


How to get Paytm Payments Bank IFSC code & MICR Code

The transfer process can be through IMPS or NEFT payment. The Paytm Payment Bank IFSC code characters are defined as “PYTM012345“. The first four characters represent the name of the bank. At the same time, the 5th number (zero) is reserved for the future. The user can access the Paytm Payment Bank IFSC code online or through the customer care desk. There some third-party websites which also avail of the Paytm Payment Bank IFSC code.

paytm ifsc code
paytm bank ifsc code

What is Paytm Payment Bank?

This is a digital banking facility that comes with zero balance requirements. It provides free online transactions and a digital debit card. The service is available in the Paytm app on any smart device. Eligible customers can request an invite to open a bank account using this payment bank. They should open a saving account or current account which has no service fee or opening charges. The RBI approves the Paytm Payment Bank service to operate and provide banking services. It’s accessible through Android and IOS devices. Applicants can set up accounts and get all banking details, such as bank statements.

How to Open Paytm Payment Bank Account

To open the Paytm Bank account, the applicant must download or upgrade to the latest Paytm version.

  1. First, download the Paytm app or upgrade to the latest Paytm version.
  2. Open the app and select “profile” or “passbook” tabs.
  3. Proceed to option open bank account.
  4. Enter a strong password and select a nominee.
  5. Key in the nominee details, enter the Aadhaar number, PAN card and get residential address verification.
  6. After the verification, the Paytm Payment Bank account will automatically activate.

How to Pay Merchants Using Scan Code

  • The applicant should open the Paytm app.
  • Next, click the pay or send button; the camera will open for scanning.
  • Proceed and scan the merchant’s code. Next, enter the reason you’re sending money (optional).
  • Enter the amount to pay and click the pay button.
  • The system will send a confirmation SMS

How to Send Money Using Paytm via Mobile Number

  • Open your Paytm app and select the send or pay option.
  • Select the mobile number and enter the mobile number of the payee or beneficiary. The applicant can select the beneficiary from the contacts.
  • Enter the amount to send and select the “send” option.
  • The system will send a confirmation option.

Payments Using Paytm Payments Account

The Paytm user can transfer funds from the Paytm saving bank account to any other bank account. One requires to click the option “transfer money” and follow the page’s instructions.

Procedure on Adding money on Paytm wallet

  • Go to your Paytm account and select the option “add money”>choose “wallet.”
  • Enter the amount you require to add and proceed to the “saved cards” tab.
  • Next, click “Rupay card”, enter the CVV and select “pay.”

How to Add or Transfer Money Using Paytm with UPI

  • Open the Paytm app and select “add money.”
  • Enter the amount you wish to transfer or add.
  • Proceed to the payment section and click UPI.
  • Next, enter the VPA, verify the collect request in the UPI app.
  • The system will confirm the payment.

How to Send Money From Paytm Wallet to Bank Account

  • Go to the Paytm app and click the “send or pay” options.
  • Select the option “send to the bank.”
  • Now enter the beneficiary details such as Bank account number, IFSC code and the amount to transfer.
  • Recheck the details and click the “send” button to complete the process.

Paytm payments bank app download

Android UsersDownload
IOS UsersDownload

For more information visit official web portal of paytm payment bank login page


  1. Are there any charges while using NEFT or IMPS services?

    No charges for online transactions; the services are free for all customers.

  2. What are the extra benefits of Paytm Payment bank services?

    Besides sending and paying money, the services offer free cheque books and online passbook.

  3. Can the Paytm payment bank pay for bills?

    The Paytm payment bank facility helps user pay for utilities such as electricity bill or services such as mobile recharges.

  4. Paytm Bank ifsc code

    Paytm payment bank ifsc code : PYTM0123456

  5. Paytm payment bank login