Paytm is one of the most popular payment apps in India and has a very large number of users. It is natural then that a lot of the customers of Dream11 would want to use their Paytm account or Paytm bank account to deposit and withdraw money directly from their Dream11 balance. Can I transfer dream11 money to Paytm? That is a bit more complicated than it used to be.
Read on to find out.
Can I transfer dream11 money to Paytm?
There was a time when you could complete the KYC on your Paytm account and then add its details as the withdrawal option. Unfortunately, this option does not seem to work anymore. Dream11 says that the latest compliance rules from the government dictate that the bank account being added must have an IFS code as well as the state in which the bank is located.
Paytm bank does not have this feature right now and so cannot be added as the withdrawal option in Dream11.
Can I transfer dream11 money to Paytm? If you really want to withdraw money from your Dream11 to your Paytm account then you need to go through a circuitous route. You first need to add a bank account and withdraw your Dream11 balance to that. From there you can add it to your Paytm wallet or Paytm bank account as you normally do.
This is not ideal but we are sure there is a fix that is coming soon to make the process more convenient.
Keep in mind that you must have more than INR 200 to be able to make a withdrawal from Dream11 and that your KYC must have been completed. Without your account being verified, there is no way to make a withdrawal. The government will take 30% of your winnings over INR 10,000 (in one contest) as tax deducted at source.