With the recent Reserve Bank of India (RBI) ban on Paytm Payments Bank, millions of users are searching for ways to withdraw or transfer their balance before stricter restrictions come into effect. While rumors of a "free money glitch" have circulated online, it’s important to clarify that there is no legitimate glitch or loophole that allows users to get free money from Paytm. However, there are completely legal and safe ways to access your funds before the deadline.
This article explores how Indians can securely withdraw their Paytm balance, the available options after the RBI restrictions, and how to avoid scams related to so-called "free money glitches."
Image credit: https://indianexpress.com/article/technology/techook/paytm-payments-bank-ban-how-to-withdraw-money-9138688/
On January 31, 2024, the RBI imposed restrictions on Paytm Payments Bank, citing violations in regulatory compliance and governance. As per the official RBI statement:
“Paytm Payments Bank Ltd has been directed to stop accepting deposits, credit transactions, or top-ups in any customer accounts, wallets, FASTags, and other instruments, after February 29, 2024.”
While the ban does not mean an immediate shutdown of Paytm services, it prevents users from adding new funds to their wallets or bank accounts.
This means that after February 29, users can only withdraw or transfer their existing balance but cannot deposit additional money.
If your Paytm wallet is linked to a bank account, follow these steps to transfer your money:
Note: Paytm may charge a small processing fee for wallet-to-bank transfers.
If your UPI ID is linked to Paytm Payments Bank, it’s time to switch to another bank:
Paytm Payments Bank users with a Paytm debit card can withdraw their money from ATMs. Here’s how:
Warning: After February 29, card transactions may stop working, so withdraw your balance as soon as possible.
Another way to utilize your existing Paytm balance is by spending it before the restrictions fully apply:
Since the Paytm ban announcement, several misleading videos and social media posts have falsely claimed that users can exploit a "glitch" to withdraw extra money or get free funds. These claims are false and can lead to scams.
Once the deadline passes, here’s what users can expect:
Users are advised to transfer their balance and update payment methods before the final deadline.
While there is no real “free money glitch”, there are legal ways to withdraw and use your Paytm balance before the restrictions fully take effect. Transferring funds, using alternative wallets, and making payments before February 29 are the safest options.
✅ Transfer your Paytm balance to a bank account.
✅ Update your UPI ID to another bank.
✅ Withdraw cash using your Paytm debit card (if available).
✅ Avoid scams related to fake money glitches.
✅ Keep an eye on RBI updates regarding Paytm’s status.
By taking these actions, users can ensure their money is safe and accessible, regardless of Paytm’s future.
This article is for informational purposes only and does not promote illegal activities, hacking, or financial manipulation. Users are advised to follow RBI guidelines and Paytm’s official announcements. The methods mentioned are legal ways to withdraw money and not a means to exploit financial loopholes. Always verify updates from official sources before taking any financial action.
Alexander
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2025.03.27