Daily Transaction limit on PhonePe UPI App: Transaction Limit Per Day. Phonepe Transaction Limit Per Day 2023 at https://www.phonepe.com/en/terms.html
Phonepe Limit Per Day
UPI apps contribute to half of the banking sector as many Banks embrace the apps and allow customers to merge their accounts. Today millions of bank users have one or more UPI apps to help in fast money transfers through mobile phones. The new fund transfer modes save time and resources and provide secure transactions. People can send and receive money without visiting the bank or having the beneficiary on the same platform. UPI offers ease in handling money through smartphone gadgets.
However, each UPI app has daily transaction limits based on the region and regulatory bodies. For Indian citizens, UPI platforms are the best transfer services. Many enjoy managing funds on their mobile or computer devices using apps like the PhonePe UPI app. This is a unique digital payment wallet owned by Flipkart and partly Walmart. PhonePe is a significant financial tech for Indian residents as it uses more than 11 languages, thus accommodating many users’ needs.
PhonePe allows users to utilize the BHIM UPI, credit and debit card to fulfil various banking services like paying utility bills, loans, online shopping, and more. The majority of Indian banks allow customers to merge their bank accounts with PhonePe for easy fund transfer. PhonePe users must check their legal daily limit to transfer wisely within the right restriction. However, the government has suggested a new limit increase of Rs. 3lakhs per day though in process.
Phonepe Transaction Limit Per Day
For some time (2021), PhonePe users have had a limit of Rs. 10,000 to Rs. 20,000 per day. The RBI helped impact the changes, which has been quite helpful to all app users. However, as suggested by the government, an increase might come in handy for businesses and individual users.
Daily Limit And Transactions Limit On Phonepe APP
- Users have a limit of Rs. 1,00,000/- per day.
- One can transact 10 to 20 transactions per day (24 hours) depending on the need.
- The maximum transfer is Rs. 1 lakh per transaction.
- The maximum amount for the day is Rs. 1 lakh per day.
PhonePe APP And Bank Transfers
To credit or debit money from your bank account, use the PhonePe app. The user must add a beneficiary or recipient before any transfer. The monthly limit is Rs. 1,00,000/-; this restricts the user from sending more than Rs. 1 lakh from the app to the bank. The app contains a risk policy that states that users cannot have more than Rs. 1,00,000/- in their wallets. However, one can recharge using their debit or credit card of BHIM UPI. PhonePe annual limit is Rs. 1,20,000; app users can check their transfer to ensure it aligns with the app’s policy.
The restrictions are pretty beneficial to users as it helps secure them from bad money decisions or overspending. It’s also a great way to curb theft/fraud; if anyone has access to your app, they cannot wipe the account funds at once. This will help in tracing and changing your details if such cases arise. However, PhonePe is very secure and approved by the RBI to help in financial matters in India.
- Can I link more than one bank account to PhonePe?
Yes, user can link their bank accounts with PhonePe, but the transaction limit applies to all. If you reach your limit using one account, you cannot transfer using a different account.
- What is the PhonePe transaction limit per day?
The app provides an RS. 1 lakh daily limit and 10 to 20 transactions per day. The user can only send Rs.1 lakh daily within the transaction provided for the day.
- Phonepe Transaction Limit Per Day
Rs. 1,00,000/- (One Lakh Rupees Only)