Hello Guys, I hope you all are doing well. If you have an Amazon Pay Account then you may know a few months ago we couldn’t transfer the Amazon Pay Balance to Bank Account. But today Amazon comes with the biggest surprise which will help us to send Amazon Pay Balance to Bank Account instantly. This is an official process from Amazon.
If you have a PhonePe account then you can understand the process in a very easy way. Because we already did PhonePe Wallet Balance to Bank using the same process.
This new Amazon Pay Balance to Bank Account Transfer Process will really help us in many ways. You already know The Panel Station and Valued Opinion Survey where you can earn money from online surveys in an Amazon Account.
Amazon Pay Balance to Bank Account Transfer
First of all, I would like to tell you this is not an easy process. In this process you have to spend a few amount. You can transfer your Amazon Pay Balance to Bank Account instantly
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Recently Amazon tweaked a few options for Amazon Pay. Amazon Pay has now become almost like Paytm Wallet. As know in Paytm wallet there are three types of sections available fuel wallet, Gift Voucher and the Old Paytm Wallet. Just like this amazon also divided their Pay balance into two sections and here are the two:
Amazon Pay Balance:
Just like Paytm wallet if you add money to your Amazon Pay balance you can transfer it using another account and even transfer it to a different account that is linked with your Amazon Pay. However, for this you will need to complete full KYC on the Amazon app so do it first then follow the below steps.
Amazon Pay Balance to Bank Account
- Open Amazon and log in to your ID.
- Head over to Amazon Pay.
- Search for the QR code option.
- Scan the UPi QR code of any other bank account apart from an account that is linked with Amazon Pay.
- Now enter the amount and enter your UPI pin to confirm the transaction.
Amazon Pay Gift Voucher Balance:
If you add any gift voucher or receiver cashback from Amazon then the amount will shown under this section. You can’t directly transfer this amount but you can use this amount to do shopping bill payments etc. on the Amazon app within 1 year of the receive date. Earlier we were able to transfer Amazon pay Gift Voucher Balance using Safegolds website. However, it isn’t working correctly.
How To Purchase Digital Gold on Amazon Pay
This is a very simple and easy process, but for this, you need an Amazon Account. You can create your Amazon Account instantly with your mobile number and email ID. After that, if you want to earn cashback from Amazon Send Money and Scan & Pay offer then you have to create Amazon Pay UPI.
How To Purchase Digital Gold on Amazon Pay
- Download and Install the Amazon App or Update it.
- Create an Account & Create UPI ID.
- Open the Amazon App and then Tap on Amazon Pay.
- Now scroll down and tap on Insurance.
- Here you can see the ‘Digital Gold’ option.
- Tap on Digital Gold on Amazon.
- Buy Digital Gold on Amazon of minimum Rs 5 from a Balance or Debit, Credit Card or UPI ID.
- Now Gold Amount will be credited to your Amazon Gold Vault Wallet.
- You can sell Digital Gold from Amazon instantly or after some time.
- Sell amount will be credited to your account after 15 minutes.
What is Amazon Digital Gold Vault
Amazon has recently launched Digital Gold. It is an online product where you can buy and save gold in a hassle-free house. For every online purchase, the seller (safe gold) keeps an equivalent weight of physical gold in a secure vault. Digital Gold can be bought in multiple transactions, of any denomination and accumulated over a long period of time. If you want you can redeem your Amazon Digital Gold Vault Balance to your Bank Account instantly or after some time.
Best Feature on Amazon Gold Vault
Amazon Digital Gold Vault is a very interesting feature because you don’t need to do any paperwork for this. If you have an Amazon Account then you can buy and sell gold from your Amazon Pay Balance easily.
There is no minimum limit for gold purchases, you can buy Amazon Digital Gold for Rs 1. For this, you don’t need to complete any KYC and there is no locking period. You can buy up to 30g of Amazon Digital Gold without KYC.
Amazon Digital Gold Bank Transfer Charges
There is a difference between the buying and selling price of Amazon Digital Gold. Because the purchase and sell price is different from 3% GST.
So if you purchase Amazon Digital Gold for Rs 100. Then in selling time, you will only get around Rs 97.
Check Amazon Digital Gold Valult Official Information: [Click Here]
As you all know there was no official way for Amazon Pay Balance to Bank Account Transfer. But Amazon has introduced this new Digital Gold Vault feature on which we can easily transfer our Amazon Pay Balance into the Bank.
If you don’t want to use Amazon Pay Balance for Recharge, Bill Payment or Shopping then i would like to suggest you this option for transferring your Amazon Wallet Balance to your Bank Account.
But if you want to use Amazon Pay Balance for Recharge then please don’t use this offer only for wallet to bank transfer. Because it will charge 3 for every 100 rs.
If you have any problem or any question regarding Amazon Digital Gold Vault or Amazon Pay Balance To Bank Account Transfer Process then comment or message me on Instagram or Twitter. You can get more offers on Telegram Channel and YouTube Channel.
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Suvam Biswas is a passionate writer living in West Bengal. His favourite topics are Investment, Personal Finance, Earning Apps and Make Money Online. On this website, users will get to know all of these categories of articles which will help them to earn or save some extra money from home.