Bharti Airtel Limited launched ‘Airtel Payment bank’ banking services in 2016. As holding India’s first RBI approved payment bank feather in their cap, they launched their service in India with 7.25% of interest rate for a savings account. Presumably, the highest interest rate for savings accounts among other banks in India. You can also avail cashback bill payment and recharges through the app.
Though Airtel Payment bank (formerly Airtel Money bank) gives this much of benefits, it also has a disadvantage within it. They will charge you for 0.65% if you transact your Payment Bank money to another bank account.
Are you an existing customer and want to transfer your money to another bank without any charges? Here is the trick to transfer money without any fee.
Guide to transfer your Airtel Payment bank money to another bank without any fee:
With the help of Indian government launched UPI payment gateway, you can transfer cash to any banks without any charges. Install UPI enabled apps like Tez, PhonePe, or Chillr for Airtel money transfer to bank account. Here are the quick tutorials to transfer money using PhonePe and Google Tez.
Transfer Airtel Payment Bank money using PhonePe:
If you already having PhonePe open the app or download it and sign the application. Go to My Account->Bank Accounts and tap on Add new bank account button which located at the bottom of the app screen. Just search for the Airtel payment banks Limited in the available list and click on that.
It will automatically pull your account number and asks you to set UPI pin number only. If you already set UPI pin number for Airtel Payment Bank, click on I have UPI PIN. Otherwise, click on Set UPI PIN and create UPI PIN for your bank. By using this same step add another bank account if you want to transfer through UPI and instantly.
Once you successfully added your Airtel Payment Bank Savings account, just go to the PhonePe Home tab. Here, click on ‘To self’ option. In the following screen, click on the account in which bank account you want to transfer money.
Then, select your Airtel Payment Bank in the ‘Debit From’ option on the next screen. Enter the amount, UPI and the cash will be sent your account immediately. To transfer money with IFSC code and account number, just click on the ‘To Account’ option, enter the fields, and send the money to your another bank.
PhonePe Offer: PhonePe current providing 50% cash back on first and fifth UPI transaction.
Transfer Airtel Payment Savings Bank cash using Tez
Google launched Tez is a new UPI based app which also rewards you through scratch cards worth Rs.1000 as a gift for each transaction. Have you already installed Tez app? just add yours another bank account as the primary account to Google Tez app.
If you are a new user just download, here is the complete tutorial on how to use Tez app and earn money. Once installation completed, go to the Tez app Settings screen and click on the copy button which is available next to the UPI ID.
Now, go to your My Airtel App and Payment Bank tab->UPI. Just enter the UPI ID which you copied from the Tez app and go ahead to transfer the money. This transaction also free and you will not be charged for any UPI transactions.
Other UPI apps to transfer money for free:
Like PhonePe and Tez, there are several other apps available to send money to another bank from Airtel Payment bank. Chillr and BHIM app are other good choices to use. ICICI’s ‘Pockets-UPI, Wallet, Bharat QR’, BHIM Axis Pay, BHIM Union Bank Pay, digibank by DBS are the bank-specific UPI apps can be used to transfer money between your banks.