We, at Paytm, try our best to provide you with the most seamless digital payments system. While transferring funds to your friends / family, it is your responsibility to enter the right receiver details and double check it.
Funds transferred once to a person cannot be claimed or reversed by Paytm.
Various regulatory agencies make it very clear that no-one can claim or reverse such funds and only the account owner can give consent to its bank to withdraw such funds. We strongly advise you, whichever mode of funds transfer you choose, do re-read receiver’s details in order to re-confirm and only then proceed to transfer funds.
You can send or transfer funds to your friends / family through the following modes:
- Paytm wallet to Paytm wallet
- Paytm wallet to Bank account
- Paytm Payments Bank account to other bank accounts
- Bank account linked through UPI to other bank accounts / VPA
If you have sent funds to a wrong person, then its recommended to reach out to the person directly and ask him to return your funds. In case you are not able to reach the person, you could contact receiver’s bank to get his details for direct coordination. If you are unable to talk to receiver, you should contact Paytm through 24×7 Help
Post receiving the query, we will do the following:
- For cases where receiver has account with Paytm; either Paytm wallet or Paytm Payments Bank account, we would try to contact the receiver and on obtaining consent, shall reverse the amount back to you.
- For cases where receiver does not have account with Paytm, we would approach the receiver’s bank and they shall coordinate with him. If the receiver gives consent, funds are transferred back to your account immediately.
If the receiver doesn’t give consent, then the only alternative for you to get your funds back is taking legal or police help.
Remember that ultimately you are trying to reach out to the receiver and asking for his/her consent to give your funds back. All institutions in between act as hops between you and the receiver, and accordingly the timelines to get your funds back increases (eg: Banks typically take 30 days to coordinate with the receiver to get the funds back).