Few smart asses are intelligently loading the money from their credit cards into the Paytm wallet and then transferring the money into their bank account. This clever tactic is helping the Paytm users earn free credit along with free loyalty points. The method is simple and since Paytm doesn’t charges user to transfer the money into bank accounts, you get the cash credit free of cost.
For example; when you load 20,000 from your credit card into the Paytm wallet and then transfer the amount from wallet to your bank account. This way you get the cash credit free of cost.
When Paytm identified this loophole, it announced a refundable fee of 2% on loading money from credit cards but it took a U-turn later.
Paytm has also blocked the users’ credit cards who are found to be using this loophole.