Transfer Simpl Pay Later To Bank Account : Check Details Here

Transfer Simpl Pay Later To Bank Account: Do you use Simpl Pay Later or are you thinking about getting it? Either way, there are some important things to know about using it easily.

In the last few years, there have been many apps like Buy Now Pay Later, and people really like them because they give more freedom with money.

Simpl Pay Later is one of the popular apps in this category, and it has many good features. You can use it to pay at big online stores. But can you move money from Simpl Pay Later to bank account? How much does it cost to do that?

We’ve created a step-by-step guide for you. Read this article from start to finish to understand the process of transferring money from Simpl to a bank account.

What is Simpl?

Simpl is a popular “Buy Now Pay Later” (BNPL) platform in India that makes online shopping easy. It works like a virtual credit card, allowing you to buy things and pay for them later, typically within 15 days. With Simpl, you can enjoy a quick one-tap checkout without entering a lot of details.

You have the flexibility to settle your bills twice a month on the 15th and 30th/31st. The best part is that there are no hidden charges or interest if you pay on time. For some merchants, you can also split payments into 3 Equal Monthly Installments (EMIs) over 3 months.

Simpl is accepted by over 26,000 merchants, including popular brands and local stores. It’s convenient because you can shop without having the funds immediately, and it helps with budgeting by allowing you to spread out payments.

You can pay early or in installments as per your needs, and there are no hidden fees – you know exactly what you’re paying for. However, it’s important to use Simpl responsibly, as it involves credit, and late payments may result in fees and affect your credit score. So, only use it for what you can afford.

How to Use Simpl Pay Later?

You can use Simpl Pay Later at over 23,000 stores. After you shop at these stores, enter your mobile number that you used to sign up with Simpl for payment. To complete the payment, you’ll need to confirm with a one-time password (OTP) sent to your mobile number.

1. Download and Sign Up:

• Download the Simpl app from the App Store or Play Store.
• Open the app and enter your phone number.
• Verify the OTP sent to your phone.
• Fill in your basic details like name, email address, and date of birth.
• Set a PIN for secure access.

2. Get Approved:

• Simpl will perform a quick credit check based on your PAN details.
• You’ll receive an instant approval notification if successful.
• Your initial spending limit will be determined based on your creditworthiness.

3. Connect Your Bank Account:

• Link your bank account for easy payments and auto-debits.
• This is optional, but it simplifies the repayment process.

4. Choose Your Merchant:

• Simpl is available at over 26,000 online and offline merchants, including popular brands and local stores.
• You can browse supported merchants within the Simpl app or look for the Simpl payment option at checkout.

5. Pay with Simpl:

• When you’re ready to pay, select Simpl as your payment method.
• Confirm the purchase amount and billing details.
• Enter your Simpl PIN if prompted.
• That’s it! Your purchase is complete and the amount will be added to your Simpl bill.

6. Clear Your Bill:

• Your Simpl bill is generated twice a month, on the 15th and 30th/31st.
• You can view your bill and make payments within the app using your linked bank account or UPI.
• Payments are due on the bill date, but you can pay early to avoid late fees.

Where to Use Simpl Pay Later?

Simpl Pay Later has become a widely accepted payment option across India, with over 26,000 merchants on board! The good news is that you can use it for a variety of purchases, both online and offline. Here are some examples:

Online Shopping:

• Popular brands: Use Simpl at major e-commerce sites like Amazon, Flipkart, Myntra, Nykaa, Bigbasket, Swiggy, Zomato, and many more.
• Travel and bookings: Book flights, hotels, and holidays through MakeMyTrip, Goibibo, EaseMyTrip, Cleartrip, Yatra, and others.
• Utility bills and recharges: Pay your mobile, broadband, DTH, gas, electricity, and water bills conveniently.
• Food delivery and groceries: Order food from Zomato, Swiggy, Dunzo, Blinkit, and get groceries delivered from Bigbasket, Grofers, JioMart, etc.
• Streaming services: Sign up for subscriptions to Netflix, Amazon Prime Video, Hotstar, and more.

Offline Stores:

• Electronics and appliances: Use Simpl at authorized stores of Apple, Samsung, Mi, Croma, Vijay Sales, and others.
• Fashion and apparel: Shop at popular brands like Levi’s, Zara, H&M, Shoppers Stop, Pantaloons, and many more.
• Restaurants and cafes: Enjoy a hassle-free dining experience at Zomato and Swiggy-listed restaurants.
• Pharmacies and healthcare: Pay for medicines and healthcare services at Apollo Pharmacy, Netmeds, and clinics partnered with Simpl.

How to Transfer Simpl Pay Later To Bank Account ?

Currently, There is no way to transfer Simpl Pay Later to bank account However, there are a couple of workarounds you can try:

Transfer Simpl Pay Later to Paytm Wallet:

• Open the Simpl app and tap on “Pay Bills & Recharge.”
• Select “Paytm Rent Payment” or “FasTag Recharge.”
• Enter the desired amount you want to transfer (make sure it’s within your Simpl limit) and the Paytm number or vehicle registration number.
• Complete the payment using your Simpl balance.
• Remember, these methods involve paying for virtual services like rent or toll tax, which you might need to manage or utilize later.

Utilize Simpl’s partnered brands:

• Look for partnered brands or stores within the Simpl app that offer gift cards or prepaid vouchers.
• You can purchase these gift cards using your Simpl balance and then sell them on platforms like Gyftr or Coinswitch at a slightly discounted rate.
• The funds you receive from selling the gift cards can then be transferred to your bank account.

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