Simpl Pay Later To Bank Account Transfer – Complete Process

Simpl, as the name suggests, is known for its simplicity in the Buy Now Pay Later (BNPL) space. However, the most demanded feature of Simpl Pay Later To Bank Account Transfer is still missing. Simpl offers a one-tap payment solution at more than 50,000 online retailers and partners, but the credit limit can be spent only within its ecosystem. In this post, we will share a workaround for Simpl Pay Later To Bank Account Transfer.

If you are new to this blog, then you should definitely check this post to learn What Happens If You Don’t Pay Simpl Bill and How To Avoid Simpl Investigation Initiated for not paying the bill on time.

Simpl Pay Later To Bank Account Transfer Process

For Simpl Pay Later To Bank Account Transfer Process, you will need a Simpl Pay Later account with sufficient credit, and a Paytm account with FASTag enabled. The amount will be sent to Paytm first through the FASTag recharge option and then to the bank account from your Paytm app. Check out the complete process below.

Step 1: Simpl Pay Later to Paytm Wallet Transfer

1. Open the Simpl app on your Android or iOS phone.
2. Check if you have sufficient credit available on the Simpl app.
3. Select the FASTag option under Recharge and Pay Bills
4. Select Paytm Payments Bank FASTag from the list.
5. Enter the Vehicle Registration Number linked with the Paytm FASTag.
6. On the next screen, enter the amount you want to transfer and press the Recharge button.
7. The amount will be successfully transferred to your Paytm wallet without any charges.

Step 2: Paytm Wallet To Bank Account Transfer

1. Open the Paytm app on your Android or iOS phone.
2. Select the Balance and History option.
3. The transferred amount will now be reflected under Paytm Wallet Balance.
4. Select Send Money to Bank option.
5. Enter the amount and click proceed.
6. On the next screen, select or add your bank account.
7. On the summary page, just click the proceed option.
8. Now the amount will be successfully transferred to your Bank Account without any charges.

Conclusion

We hope you have easily understood the Simpl Pay Later to Bank Account transfer process through this post. It can be useful for those who need the amount during an emergency. The only disadvantage is for those who do not own a vehicle or use any other FASTag service. PostPe has the inbuilt option to transfer the credit directly to the bank account. We hope Simpl would soon join the bandwagon and launch the same feature on its app.

Read More: Does Simpl Affect Your Cibil Score? Find Out Here!