Today we all are familiar of PhonePe. It is one of the leading payment apps and a UPI enabled initiative. This allows to make payments in India. This allows you to recharge, buy gold, send money, and shop at your favorite shops.
But do you know your favourite payment app was not allowing the transfer of money from PhonePe wallet to bank transfer. But now you can easily do it. But for these users need to complete the KYC process to use the facility. Here we will discuss in detail about PhonePe and how to transfer money from PhonePe wallet to Bank transfer..
Table of Contents
What is PhonePe?
PhonePe is one of the leading payment platforms in India founded in December 2015. It works on Unified Payment Interface (UPI). You have to give your bank account details for creating the UPI ID. This is one of the secure apps by which you can do all your needs in a convenient way.
PhonePe wallet lets users to make payments like doing a recharge, paying bills, shopping from your favorite shops and much more.
Money transfer from PhonePe wallet to Bank Transfer
Now you can transfer money from PhonePe wallet to Bank transfer. All you need to do is to complete KYC on the app.
After completing the KYC process, here are the steps on how to transfer money from phonepe wallet to bank account:
1. Open your PhonePe app and then go to My Money section
2. Go to the PhonePe wallet
3. Click on Withdrawal tab
4. Drag the wallet icon down and drop it on the bank icon
The money will be transferred to your primary linked bank account. And the cashback balance cannot be transferred to your bank account.
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Set up PhonePe wallet Auto Top-up
Here is a list of steps on how to set up PhonePe wallet Auto Top-up:
1. Open your PhonePe app.
2. Enter OTP to Login
3. Click on Profile in the top left corner
4. Click on Top-up under the payment method section
5. Enter the amount less than 500 and click on Top-up wallet.
6. Enter your preferred wallet auto top-up amount
7. Select bank account
8. Click on Top-up and select auto top-up
9. Enter UPI pin and your automatic wallet top up will be activated.
How to add money to PhonePe wallet?
1. Open the PhonePe app
2. Go to PhonePe wallet
3. Enter the amount you want to add to your PhonePe wallet
4. Click on the confirm button to add money to PhonePe wallet.
How to transfer money from PhonePe wallet to any UPI ID?
Here are few steps on how to transfer money from PhonePe to any UPI ID:
1. Open PhonePe app
2. Under the ‘Transfer money’ section, click on ‘Bank/UPI ID’
3. Enter receivers UPI ID in the search bar
4. Click on verify after entering the UPI ID
5. Enter the amount and click on ‘Send’
What is the PhonePe UPI transaction limit in a day?
PhonePe restricts the transaction of 1 lakh per day like any other UPI transactions.
How to remove Bank account details from PhonePe?
Here are the steps on how to remove Bank account details from PhonePe:
1. Open the PhonePe app and click on ‘Accounts’ section
2. Select ‘Bank accounts’, all your Bank accounts will be displayed
3. Select the account you want to delete
4. Click on the pop-up message to unlink
5. The selected bank account will be deleted from your PhonePe app.
How to delete PhonePe account?
Here are few steps on how to delete PhonePe account from your mobile phone:
1. Open PhonePe app and click on ‘My Account’ section
2. Select ‘Help’
3. Click on ‘PhonePe account’
4. Choose the account and click on ‘deleting an account’
5. Select ‘Contact us’
6. The support team will confirm the reason for deleting the account
7. After completion of verification, your account will be deactivated within 2 to 3 days.
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