How to Transfer Money from LazyPay Account to Bank Account?

How to Transfer Money from LazyPay Account to Bank Account?

LazyPay is a division of PayU, a well-known BNPL app in the fintech space in India and other developing nations. The app offers customers simple financing solutions with cutting-edge technologies. Some of the LazyPay benefits include low-interest rates applied to the credit card, no hidden costs, and a free lifetime card. Customers can even use coupons for discounts.

Here is a breakdown of transferring money from your LazyPay account to your bank account. If you’re looking for options, the techniques listed below can be helpful.

How to transfer money from a LazyPay account to a Bank Account?

Method 1

  1. Open the LazyPay app on your phone; your account balance will be visible to you in the centre of the screen.
  2.  Go to the ‘scan and pay’ option.
  3. Scan the code; after scanning, you will be asked to put the amount you want to transfer.
  4. Please confirm when the confirmation pop-up appears and you are done.

Note: To access this method, you must have a business account; a few apps that allow you to have a business account are – Paytm Business account, Google Pay Business account, and PhonePe Business account. If you don’t have one, please make one to go ahead.

Method 2

1. Download the LazyPay app from the Google Play store or Apple App Store.

2. After installing/opening the LazyPay App, skip the introduction part, create a new account and log in.

3. Complete your KYC and fill out the necessary information to link your bank account.

4. Go to the ‘Dashboard’, select the “utility payment” option, and then choose your bank account to make a direct transfer.

5. Verify your bank information: choose instant pay or the same-day option, enter a minimum payment amount of Rs 100, and then click the “Pay Now” button (convenience charges of Rs.25 will be levied).

6. Select Wallet Payment 1 as the payment method and proceed to LazyPay Pay Later with no additional fee.

7. Complete the transaction, and it will immediately be credited into your bank account.

FAQs

Can we transfer money from LazyPay to Paytm wallet?

Users can transfer the money to the Paytm business account if they have completed UPI with LazyPay.

Does LazyPay have UPI?

Yes, LazyPay has UPI functionality that allows you to use UPI QR codes to scan and pay offline and online.

How do you use LazyPay UPI?

To register yourself, open the LazyPay app, select Scan & Pay, and click “Activate Now.” After completing it, you can begin utilising it. 

How do I get a refund from LazyPay?

In most situations, the money will be automatically refunded to you if your online payment fails. If it doesn’t, get in touch with the retailer, and they will manually start the refund. It will take 4-5 working days to appear in your LazyPay account.

What happens if we don’t repay LazyPay?

LazyPay has the right to suspend the user’s account if the user doesn’t pay the amount before the deadline.

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