Trick to get rid of charges for credit cards & paytm cashbacks
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This is purely for educational purpose only
I recently found that people who have credit cards really need cash for their personal usage and you cannot use the credit cards just like that from ATM and so most of the people are swiping them at various business shops by forgoing some commission
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Paytm users who are receiving their cashback are though convenient with the process of cashbacks, there are few users who really can’t buy from paytm all the time and want the cashback for their personal usage. We are paying our cash to paytm and mall through our banks but we are getting the cashback to our paytm account and inorder to transfer it back to our bank, we were being charged.users who are convenient with it, please don’t comment. its purely for people like us Trust me, most of us really do want to transfer it back to banks yet we were being forcibly keeping the money in paytm and use through it just because of the transfer fee.\
Solution is simply, we open a business on paytm for business app and pay amount to that which will transfer the amount automatically to our desired bank account the next day yeah, in order to get rid of charges we should wait .
it doesn’t need any GST registration. Just basic details like name of the business, bank details is enough. Also they don’t charge a single paisa to transfer the amount to bank. And it is not necessary to visit the shops. stay home and we can do all this.
Procedure:
1. Install Paytm for business app https://play.google.com/store/apps/details?id=c...
2. Signup and you’ll be asked few basic details about the business you have, choose like local cable opertor, water, food etc…and then add bank account to which money has to be credited.
3. Now, after everything, a QR code will be generated and with that your business account is successfully created.
4. This QR code has to be shared into other device as we need to scan it or just print it.
Now next phase begins,
5. Credit card users, load the amount to your paytm wallet. Paytm CB users already have their CB in your own account.
6. open scan to pay and scan the barcode along with the amount you need to get credited into your account.
That’s it….! wait for a day and the next morning you’ll wake up with the message that the amount has been credited to your bank account successfully. Credit card amount + salary amount awaiting for u
Kindly opt this procedure after checking the comments as i’m getting few imp feedbacks
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there is a possibility of same customers all the time.
lukz like this trick has already been implemented
well then, we try scanning through different numbers. paytm to paytm transfer is free
huge trasactions and same number trasactiond leads to block and stuck of money
daily limit is 20000 and monthly 50000 and credit card holders might not need the whole amount i guess. i’m not suggesting to do seva to everyone. just to save our own backs…..
I am using it for a month now.no problem with it.
My 3 merchant accounts got blocked because of this
kindly provide us with more info so that we could try to understand what actually has happened.
info mean how much did you transact and how many times etc
People unknowingly using this.
Think from a business or that persons point of view who has been registered.
While opening the business account on paytm you might have given pan or aadhaar for kyc.
So any payment acceptance through the bar code(business account) is an income for the business account holder. And you never know paytm is consolidating the income and gives to IT for ITR validation.
Business ownwer should show the total amount accepted through this account as income through other sources in iTR. Not disclosing this can be at risk.
Lolzz….my self an IT professional. No offense but stop watching thriller movies. IT department has much more work to do rather than concentrating on such things because IT professionals know that this ain’t any business and we are submitting our pan card too. we just submitting the aadhar card details. Don’t think too much other than paytm blocking this type of transactions which came to light just now.
From 2nb month onwards account will be suspended.. When you enquire the reason for suspending account with paytm customer, they will tell that you done too many transactions with credit card & that’s why your account has been suspended. To activate the account again, they will ask you to mail photos of your shop, PAN card & aadhar card along with written undertaking that I will pay 2% transaction fee along with GST..
Its a risky…
OMGG…..what about the amount bro?? Did they block the account when you have the amount? or they blocked it when there is no amount in it?
Yea. This will be your sale value. And since its white so it won’t be seconds before IT dept can pull your details. And I am guessing, you won’t file ITR considering this, which will eventually cost you in IT fraud than the benefit you got in rotation.
I have done all the steps mentioned here and done 5-6 transactions of Transfer.
But I have been charged. (From: Another Paytm account to Paytm Merchant Account/Bank Transfer)
Any solution?
wtttt…..noway. even today my friend received amount to his bank without a single paisa charge. tell me when did you activate your account?
The moment idiots like you post such an old but working trick here it’s shutdown….
First 3 letters in ur name really states ur nature. Btr dnt speak in such a way vd ur parents. It may hurt their feelings
This is a known fact . The trick is in use since atleast 18months …. The fact that you came to know it now shows your level of brains… And then the fact that you posted it shows the level of forethought….
Congrats to ur Brain for being really dumb and not posting here even when you know about it 18 months ago. I learned about the Paytm business 0 charge very recently. U know wt…… Go to hell, u dnt even deserve dz reply 😏
Well it was in papers if you do know how to read them…. Or is that too much to hope for?
If you do 3-4 transactions from same number, they will block your business account. Happened with one of my friend