There are many ways to transfer money from your Bank account to your Bank account. Internet Banking, IMPS and NEFT are all options for money transfer. To send/receive money to a bank account, you can use the Bank app/website or UPI apps. What if you only have a Debit card? How can you transfer money from your debit card to your bank account? This method isn’t widely used and may only be of use to some people. This guide will help you if you’re looking for the exact same. This article will show you how to transfer money online from your debit card to your bank account
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- Debit card details– Card number, expiry date and CVV number
- Beneficiary Account details– The account number, IFSC Number, and the bank name of beneficiary account.
- Register mobile numberTo verify transactions made with a debit card, you must have your bank’s mobile number with you.
- To receive OTP via SMS, your mobile number must be active
- Kotak 811 App (free) [requires Kotak bank accounts]
- Paytm Bank debit card required to add money (free).
- Paytm is a free way to transfer money from your debit card to your bank account.
- Mobikwik can be used (charges may apply).
- Use CDM machine (charges might apply)
We will detail each method.
Method 1 – Use the Kotak Mobile App for transferring money from your debit card to account transfer
You can transfer money to your Kotak Bank account by using the Debit card option if you have a Kotak Bank account.
- Install Kotak Mobile Banking app on your smartphone.
- Register on Kotak App using registered mobile number and Kotak CRN.
- After completing the registration, log in using six-digit biometric verification or MPIN.
- Click onKotak 811Option from the home screen
- Tap on “Now”Add money to your 811 accountSelect “Debit card“
- Enter the amount you want to transfer from debit card to Bank account and tap n.
- On the new screen, select Debit card from the tab and then enter the debit card details such as Card Number, Expiry Date and CVV number.
- Click on “Pay NowClick the “Button” to access the payment gateway.
- Enter the OTP that was sent to your registered mobile number on the payment gateway.
- Once the transaction is verified, the amount will be credited into your account.
Paytm is available to anyone with internet access. You can transfer money from your debit card to any bank account.
- Login/register on Paytm from App or website – https://paytm.com/
- To transfer money to a bank account, you must complete the E-KYC on Paytm. You will need your Addhar card and PAN card to complete KYC.
- Click hereIncrease moneyOption from the main menu
- Click on “” to enter the amount that you wish to transfer to your account.Add MoneyClick the “Button”
- Select the option to switch between the old and new screens.Debit cardEnter your debit card number, CVV and expiry date in the “Options” box.
- To access the payment gateway, click on the Pay button
- Enter the OTP sent to your registered mobile number by your bank at the Payment Gateway.
- After the transaction has been verified, the amount will automatically be added to your Paytm wallet.
- Select the History and Balance option.Paytm Wallet.
- Select NowSend money to the bankOption.
- The applicable charges will be displayed on the new screen. It is currently 0% ( Paytm is offering free balance transfer to the bank, for now, they may change it anytime).
- In one transaction, you can send Rs20 up to Rs25000.
- You can now enter your account number and IFSC number on the new screen. Tap onSendClick the button to transfer money into a bank account.
Mobikwik is a Made in India App that was recently popularized by the government’s Aatmanirbhar campaign. Mobikwik offers various online services such as recharge, bill payment, credit card bill payment via debit card and money transfer from debit card to Bank account.
- Download and register on Mobikwik app on your smartphone or visit mobikwik wesbite – https://www.mobikwik.com/
- Click on “Add MoneyClick on the “option” and enter the amount that you wish to add to your wallet. You can later transfer the money to your bank account with some fees. So add more money that you wish to transfer to your bank account.
- Next, select the New debit card option and enter your debit card number.
- Your transaction will be authenticated with OTP on a new page. OTP will be sent to your bank registered mobile number. Enter this OTP at the payment gateway page.
- After the transaction is completed successfully, your MobiKwik account will be loaded with the amount that you have added.
- Click here nowWallet TransferOption from the main menu to the left.
- Choose “Bank to walletEnter the account number and IFSC code, as well as the amount that you wish to transfer, on the screen. The minimum amount you can transfer to the bank is Rs50 Click on the Transfer limit option next to the amount box to see the maximum amount that can be transferred.
- Click on nowGoClick the button. The next screen will display the relevant charges and the total amount that will be deducted from your wallet.
- Click on if you are okay with the chargesTransferClick the button to transfer the amount you desire to your account.
You can add money to your Paytm bank account by using a debit card if you have Paytm payments banking
- Open Paytm on your smartphone.
- From the main screen, select Paytm Bank.
- Next, click on the Add money option. Then select Add Money to debit card.
- Enter the amount that you wish to add to your Paytm account.
- Now you can enter your Debit card details, including Card number, Expiry Date and CVV.
- Enter the OTP that you received from your bank mobile number on the payment gateway page.
- Money will be added to your bank account after the verification has been completed.
If none of these methods work for you, the CDM machine is the best way to send money to someone who has a debit card.
- First, withdraw cash from an ATM.
- Go to the bank’s Cash Deposit Machine (CDM), and choose Send Money on Account Number.
- Enter the account number of the receiver and the IFSC code.
- Enter the amount you wish to send.
- Last, deposit the money into the CDM machine.
- The total amount will be displayed after the machine has tallied the notes.
- Click on the Deposit button to confirm the amount.
- The money will be immediately sent to the bank account of the recipient.
- Don’t forget to get the receipt for the amount you have deposited.
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