Playing online games has never been so much fun, but now with Dream 11, you can play games as much as you want and as well as earn money which makes it more exciting. Although earning money is the best part for everyone but when the user wants to redeem their money, in most cases, they are unable to do so. People are still unaware of how to withdraw money from Dream 11, and if you are also one of them and want to know about it, then be with us till the end.
Key Takeaway
How to withdraw money from Dream 11
The most renowned online fantasy sports platform Dream11 enables users to create virtual teams and take part in different games with the chance to win real money. Although the Dream 11 gives you a chance to win and withdraw money, it is essential to remember that it also has a process that you should follow while withdrawing the money from Dream11. Also, there are many sources that you can use to withdraw money from Dream 11. So here is the process of how to withdraw money from Dream11 to all your variable sources like Paytm, bank account, etc.
How to transfer money from Dream 11 to bank account
Wondering how to transfer money from Dream 11 to a bank account? Well, here are the steps that you should follow.
- Firstly use your login information to access your Dream11 account.
- Select your profile icon from the home screen, and go to "My Balance”.
- Now on the next page, you will have a “Verify Now” option if you have not yet completed your KYC.
- Click on ”Verify Now” to complete your KYC and for it, you will be asked to verify your email, PAN card and link your bank account.
- After completing your KYC process you need to click on “Withdraw instantly”.
- Now, enter the amount in the withdrawal box, and also make sure the amount you want should not exceed your available balance and also meet the minimum withdrawal from Dream 11 amount criteria which is 60 and a maximum of Rs. 1 crore.
- Once the withdrawal request has been processed, you will receive the amount in your bank account.
It may take up to 3 working days for the withdrawal amount to be credited to your bank account.
How to withdraw money from Dream 11 to Paytm
If you are looking for a way to withdraw money from Dream 11 to Paytm, don’t worry, read the following points.
- To withdraw money from Dream 11 to Paytm the very first thing you should keep in mind is that your KYC (Know Your Customer) has been completed for your Paytm account.
- Now open the official website or the mobile app to access your Dream11 account.
- Go to the profile or account settings.
- Find the option to withdraw the money to Paytm. Enter all the details of your Paytm account rather than your bank and you are good to go!
It is the easiest method using which you can conveniently withdraw your Dream 11 money to your Paytm instead of your bank account.
Is there a way to track my withdrawal request?
When you submit a request to withdraw your winnings, Dream11 requires a few days to verify the information and process your request. In the meantime, you can check the status of your withdrawal request in the Dream11 app by following the steps given below:
- Open the Dream11 app on your Android or iOS device.
- Click on your account picture in the top-left corner of the home screen.
- Go to the ‘My Transactions’ tab.
- You can check the status of your withdrawal request using the unique withdrawal request ID.
How to withdraw money from Dream 11 without PAN card
No, it is not at all possible to withdraw money from Dream 11 to your account without using a Pan card. Having a Pan card is a mandatory thing because it serves as a unique identification number for each and every financial transaction. So, to withdraw money from Dream11, you need a PAN Card.
Also Check: How to transfer Ajio money to bank account
Dream 11 withdrawal limit
Before withdrawing money from Dream 11 you should keep some points in your mind, including the Dream 11 withdrawal process.
- Your bank account details and PAN number must be verified for a withdrawal.
- In a day, you can place 3 times withdrawal requests, and it will range between a minimum of Rs 60 to a maximum of Rs 1 cr per request.
- You can withdraw a maximum of Rs. 3 Crore in a day.
- The processing time required to complete your withdrawal request is 3 working days.
Also, keep in mind that according to the Govt. Tax law, a 30% amount will be deducted as a tax at the time of withdrawal. This taxable amount is calculated as follows:
Taxable Amount= A - B - C - D
A= Total amount of withdrawal in a financial year
B= Total amount deposited in Dream11
C= Opening balance on 1st April of current year.
D= Amount on which TDS has already been deducted till the current date.
30% of the calculated amount is liable to be collected as TDS.
Conclusion
Hope you are now aware of how to withdraw Dream 11 money. For ensuring a smooth withdrawal process, it is essential to follow all the steps we have mentioned above. Also, make sure that you have completed your KYC process if you are planning to withdraw money from Dream 11 to Paytm.
Frequently Asked Questions
Q1. Can I withdraw money from Dream 11 without a Pan card?
No, for each transaction you are required to have a PAN card.
Q2. What documents are necessary for Dream 11?
For Dream 11 you are required to have a bank passbook, cheque, or bank statement with your name, bank account number, IFSC, and branch details.
Q3. What is the Dream 11 withdrawal limit?
Within a day you can place 3 requests to withdraw your money and you can withdraw money somewhere between Rs 50 to Rs 1 Cr.
Q4. How long will it take if I withdraw money from Dream 11?
Each day maximum of 1 lakh requests are entertained, so within 3 working days, your money will be credited to your account.
Q5. How to convert Dream11 points to cash?
Points earned in Dream11 can not be directly converted into cash. Alternatively, you can withdraw the amount won by submitting a withdrawal request in the Dream 11 app.
Q6. What is the withdrawal time in Dream11?
The time taken by a withdrawal to be credited to your account is given below:
- IMPS withdrawals are usually credited instantly, but sometimes, it may take up to 3 working days.
- Withdrawals made through NEFT are credited within 3 working days.
Q7. Why is the amount credited to my bank account different from my withdrawal amount?
According to the current Income Tax Regulations, 30% of your Dream 11 winnings is liable to be collected as TDS (Tax Deducted at Source) at the time of withdrawal. Thus, the amount credited to your bank account is different from the amount withdrawn from Dream11.
Q8. Can I use someone else's bank details on my Dream11 account?
No, you can not use someone else’s bank account to withdraw your winnings in Dream 11. The verified bank account and PAN to make a withdrawal in Dream11 must belong to you only.