February 9, 2025 · 12 mins read
Santosh Kumar
In the modern world, convenience and comfort are highly valued, and the banking sector has significantly transformed in this area. Due to the difficulty of carrying cash, digital payments and mobile wallets were developed. PhonePe is now one of the leading companies in this field. Mobile apps are the most popular way to pay for groceries, utility bills, phone recharges, and other expenses. In addition to eliminating risk considerations in the real world, the shift to digital transactions from cash to even huge transactions has permanently streamlined the banking and financial industry.
The app allows users to maintain their bank accounts digitally, access them at their convenience, and use their funds for all the purposes that they want. They can easily link their credit and debit cards with a mobile wallet to make their digital payments. Furthermore, instant money transfers can also be done through PhonePe.
1: For every user, the daily limit for PhonePe UPI transactions is ₹1 lakh (₹100,000).
2: You can only send money on Phonepe a maximum of 20 times in a 24-hour period. With 20 transactions per day, you may transfer up to ₹1 lakh in a single day.
3: If you wish to make further transactions or transfer more money, you must wait for the 24-hour period to end.
Note: In addition, some users may wonder if there is a weekly, monthly, or yearly transaction limit. Phonepe does not impose any transaction limit according to monthly or weekly; the standard transaction limit is only based on a daily basis. Also, users should be aware that their banks may have their own restrictions. Therefore, monitoring your transactions to ensure compliance with Phonepe and your bank's policies is important.
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They limited transactions for various banks across India to ensure smooth transactions and eliminate fraudulent activities.
1: Transaction limits are the maximum amount of money a business can transfer or receive in a day through PhonePe.
2: A business can use PhonePe to receive or send a lot of money many times, and there’s no limit on how many transactions it can conduct.
3: This is great for businesses because they can handle many transactions without restrictions. However, it’s important to know that this perk is only for users with a PhonePe Business account and a registered shop within their company.
4: PhonePe offers seamless web integration, enabling businesses to streamline their online transactions and enhance their digital presence.
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1: The maximum amount you may send using PhonePe's wallet is known as the account transfer limit.
2: PhonePe's wallet transaction money transfer limitations depend on a number of variables, such as the kind of user account and KYC completion:
3: The daily PhonePe transfer limit for wallet users who have completed minimum KYC verification is ₹10,000. Thus, you can send or receive up to ₹10,000 in a single day using your PhonePe wallet.
4: If you have completed full KYC verification, which involves providing additional personal information and documentation, the daily limit increases to ₹2,00,000 per transaction and ₹4,00,000 per day. With this higher limit, you can transfer more money using your PhonePe wallet.
5: It is worth noting that these limits may vary depending on factors such as your PhonePe account type, KYC status, and transaction history. To check your specific transaction limit, go to the “My Money” section of the PhonePe app.
6: Understanding the PhonePe transaction limit for bank transfers will help you effectively manage your finances and ensure smooth transactions within the platform.
There are two ways to increase your PhonePe transaction limit
To increase the limit:
Minimum KYC: This allows daily transactions up to ₹10,000.
Full KYC: This increases the daily limit to ₹4,00,000 per day.
To complete Full KYC, you'll need to provide additional documents, such as an Aadhaar card, PAN card, and address proof. You can do this within the PhonePe app.
To increase the limit:
Contact Your Bank: Reach out to your bank’s customer service or visit a branch to request an increase.
Bank’s Assessment: Your bank will assess your financial history and risk profile before deciding on an increase.
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1. Download the App from the play store or App store
2. Sign Up by using your mobile number and email ID
3. Link Your bank account by following these steps
1: Open the PhonePe app
2: Go to the My Money page
3: Select Bank Accounts under Payment Methods
4: Select Add New Bank Account
5: Choose your bank from the list
6: PhonePe will fetch your account details and link it to your account
7: Set up a UPI PIN
8: Enter the last six digits of your debit or ATM card number and the expiry date
9: Enter the OTP received on your registered mobile number
4. To transfer money through the Phonepe app, you can use UPI, a Mobile number, or a bank account.
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1: Open the PhonePe app and log in
2: Select To Mobile Number under Transfer Money
3: Search for a contact or enter a phone number
4: Enter the amount to send
5: Select Pay
6: Enter your UPI PIN to complete the payment
1: Open the PhonePe app and log in
2: Select To Bank/UPI ID under Transfer Money
3: Enter the recipient's UPI ID in the search bar
4: Select a UPI ID from your contacts
5: Enter the amount to send
6: Select Send
7: Enter your UPI PIN to complete the payment
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1: Open the PhonePe app and log in
2: Select To Bank/UPI ID under Transfer Money
3: Select the + icon
4: Select the bank from the list
5: Enter the account number, IFSC, account holder name, and nickname
6: Enter the amount to send
7: Select Send
8: Enter your UPI PIN to complete the payment
One of the earliest applications with a government-backed Unified Payment Interface, or UPI interface, is PhonePe. PhonePe, created and based on the Immediate Payment Service (IMPS) infrastructure, allows two parties to transact using their respective bank accounts. The application uses distinct identifiers, such as a cellphone number or VPA, which is another name for a unique address. The app is a secure choice because it prevents users from using their IFSC or account information during these transactions.
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PhonePe does not require users to provide any sensitive information, such as bank account information or IFSC code. Because of this, PhonePe is regarded as a reliable source for a safe and secure environment. This portal offers access to about 30 banks, including SBI, HDFC, ICICI, and others. You only need to link your account with UPI, and you'll be set to go after your cellphone number and other credentials have been verified. Your account details are then retrieved by UPI over a secure connection each time you complete a transaction. It is vital to remember that you will not be able to link your PhonePe account to your bank account if your bank is not involved in UPI.
PhonePe eliminates the need for several authentications, making it easy to use. You may move funds between bank accounts using PhonePe without supplying your card information or waiting for one-time passwords to finish the transaction. This holds true whether you're paying for in-person or online purchases.
If you keep your e-wallet account connected to the app, it doesn't need to be topped off regularly. You also won't have to be concerned about running out of money after linking your account because the cash is taken straight out of your bank account.
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Once your account is connected to PhonePe, you may stop paying your payments in person. To pay your invoices, just open the app, press the appropriate icon, and proceed.
Your bank account is connected to the PhonePe app, allowing you to make larger payments—up to tens of thousands of dollars. The single transaction limit has been raised to Rs. 1 lakh by PhonePe. Additionally, you may benefit from PhonePe's wallet balance durability. Even if you only interact with your account twice a year, it will still be active.
PhonePe's usage of the government-backed platform means that all of your transactions will be extra safe.
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1: PhonePe is a useful tool for business users. This software may be used to pay utility bills and employees and process client payment requests.
2: You can conveniently schedule all utility bill payments, including electricity, postpaid mobile, landline, water, home taxes, and insurance premiums.
3: This software supports Bengali, Tamil, Marathi, Hindi, and English, improving the app's usability and friendliness for native speakers of those languages.
4: Phonepe provides customers with a range of payment options. The app may be linked to bank accounts, credit cards, debit cards, and UPI, giving it a flexible payment method that guarantees each source is operating as intended.
5: Additionally, the app provides a far faster and more dependable method of transaction. There is no need to link an account or card because money is transferred straight from the user's account to the phone wallet.
6: Along with several other services on its website, Phonepe is a single app. The switch option lets you quickly and easily access your favourite apps and services.
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Every transaction on PhonePe needs your fingerprint/face ID, UPI PIN and password for authentication.
Our security teams monitor all real-time transactions to block any suspicious activity. We also report fraud complaints & block fraudulent users from accessing the PhonePe platform
Only you and the person you are transacting with will be able to see your payment details.
To aid safe transactions, we have partnered with cyber-crime cells of government law enforcement and security agencies, such as National Cybercrime Portal, CyCord and CyberSafe.
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When you touch the PhonePe app on your mobile device, the dashboard opens without verification. It doesn't ask for your password or PIN to open.
When you pay through the app, processing seems to be ongoing. It also lasts a long time. Technical issues can cause it to take up to three days.
It also occurs when you pay a merchant and the notice "payment successful" appears. The recipient's account is creditless, but yours is also debited for that amount. Credit processing may take up to 24 hours in some circumstances. You are often emotionally distressed by it.
The issue occurs when a refund is issued for a cancelled ticket, which is why the ticket should be bought using the phone app.
You do not receive interest on your wallet deposit from Phonepe, and other UPI applications with wallet features do not offer interest.
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PhonePe is now the leading platform for money transfers in India, providing a simple, safe, and convenient way to handle finances. Considering there is a transaction limit of ₹1 lakh and a daily limit also capped at ₹1 lakh, users may find it easy to use PhonePe for varied purposes of money transfer. Users may understand the features, limitations, and security measures relevant to phone transactions, which, other than enhancing experience, make the transactions safer. Undoubtedly, these kinds of apps, such as PhonePe, will revolutionize the future of financial transactions in India, where the growth of digital payments is unprecedented.
What is the daily transaction limit for the phone pe users?
For every user, the daily limit for PhonePe UPI transactions is ₹1 lakh (₹100,000).
How many transactions are allowed to be made in a day through Phonepe?
Users can make a maximum 20 transactions in the 24-hour period through Phonepe
How can a user increase the Phonepe transaction limit?
The user can increase the transaction limit by completing full KYC verification, which includes additional documents like an Adhaar card and PAN card. Otherwise, we can contact the bank and request an increase in the limit.
What is the wallet transfer limit on Phonepe?
Users who have completed the minimum KYC verification can transfer up to 10,000. If they complete full KYC verification, they can transfer up to 2,00,000 per transaction and 4,00,000 per day.
What is the transaction limit for businesses that use Phonepe?
They can do unlimited transactions, but the maximum amount they receive or send depends on their specific business account settings.
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