PhonePe Limit Per Day 2024 – UPI apps contribute to half of the banking zone as many Banks embrace the apps & allow users to merge their accounts. Today millions of bank customers have one or more UPI apps to assist in fast money transfers through mobile phones. The new fund transfer modes save time & resources and give secure transactions. People can send & get money without visiting the bank or having the beneficiary on the same platform. UPI provides ease in handling money through smartphone gadgets.
PhonePe Limit Per Day 2024
However, every UPI app has daily transaction limits based on the region & regulatory bodies. For Indian peoples, UPI portals are the best transfer services. Many enjoy managing funds on their mobile or computer devices utilizing apps such as the PhonePe UPI app. This is a unique digital payment wallet owned by Flipkart & partly Walmart. PhonePe is a significant financial tech for Indian residents as it utilizes over 11 languages, thus accommodating many users’ needs.
PhonePe permits customers to use the BHIM UPI, credit & debit card to fulfil various banking services like paying utility bills, loans, online shopping & more. The majority of Indian banks permit users to merge their bank accounts with PhonePe for easy fund transfer. PhonePe customers must check their legal daily limit to transfer wisely within the right restriction. But, the government has suggested a new limit enhance of Rs. 3lakhs per day though in process.
PhonePe Limit Per Day 2024 Highlights
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PhonePe Transaction Limit Per Day
For some time (2021), PhonePe customers have had a limit of Rs. 10,000 to Rs. 20,000 per day. The RBI helped impact the changes, which has full helpful to all app customers. But, as suggested by the government, an enhance might come in handy for businesses & individual users.
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PhonePe Transaction Limit Per Day For Different Banks
Here’s a complete table of the limits imposed by each bank for PhonePe transactions.
| Name of Bank | Phonepe Per day transaction limit (in Rs) |
| A P Mahesh | 100,000 |
| Aditya Birla Bank | 100000 |
| Airtel Payments | 1,00,000 |
| Allahabad Bank | 1,00,000 |
| Allahabad UP Gramin | 100,000 |
| Andhra Bank | 1,00,000 |
| Andhra Pradesh Grameen Vikas | 25000 |
| Andhra Pragathi | 25000 |
| Apna Sahakari | 100000 |
| Assam Grameen | 25000 |
| Axis | 1,00,000 |
| Bandhan | 100000 |
| Bank of Baroda | 50,000 |
| Bank of Maharashtra | 20000 |
| Baroda Gujarat Gramin | NA |
| Baroda Uttar Pradesh Gramin | 100,000 |
| Bassein | 40000 |
| Bihar Gramin | 200,000 |
| BOI | 100,000 |
| Canara Bank | 100,000 |
| Catholic Syrian Bank | 1,00,000 |
| Central Bank of India | 50000 |
| Chaitanya Godavari Gramin Bank | 100,000 |
| Chhattisgarh Rajya Gramin Bank | 25000 |
| Citibank | 1,00,000 |
| Corporation Bank | 1,00,000 |
| Cosmos | 50000 |
| City Union Bank | 1,00,000 |
| DBS Bank | 1,00,000 |
| DCB BANK | 25,000 |
| Dena BanK | 100,000 |
| Deutsche Bank AG | NA |
| Dhanlaxmi Bank | 1,00,000 |
| Dombivli Nagri Sahakari Bank | 100,000 |
| Equitas Small Finance Bank Payments Bank | 1,00,000 |
| Fino | NA |
| Federal bank | 1,00,000 |
| G P Parsik Bank | 100000 |
| Gujarat State Bank | 50000 |
| Hasti | 100000 |
| HDFC Bank | 1,00,000 |
| HSBC Bank | 100000 |
| Indian Bank | 1,00,000 |
| ICICI Bank | 10,000 |
| IDBI | 50,000 |
| IDFC | 100,000 |
| Indiusind Bank | 100000 |
| IndusInd Bank | 100000 |
| IOB | 100,000 |
| Janta Sahakari Bank | NA |
| Kallapanna | 100000 |
| Karnataka Bank | 100,000 |
| Karnataka Vikas | 25000 |
| Karur Vysya Bank | 1,00,000 |
| Kaveri | 25000 |
| Kerala Grameen Bank | 50000 |
| Kotak bank | 50,000 |
| LVB | 100,000 |
| Langpi Dehangi | 25000 |
| Mahanagar Bank | 100,000 |
| Maharashtra Grameen Bank | 25000 |
| Malwa Gramin Bank | 25000 |
| Meghalaya Rural Bank | 25000 |
| Mehasana Urban co-operative Bank | 1,00,000 |
| Mizoram | 25000 |
| NKGSB Co-Op Bank Ltd | 40,000 |
| OBC | 1,00,000 |
| PNB | 100,000 |
| Punjab and Maharashtra Co- Op Bank Ltd | 1,00,000 |
| Paytm Payments Bank | NA |
| Pragathi Krishna Grameen Bank | 20000 |
| Prathma Bank | 25000 |
| PSB | 25,000 |
| Purvanchal Bank | 25000 |
| Rajasthan Marudhar | 25000 |
| Rajkot nagrik Bank | 100000 |
| RBL | 100000 |
| Samruddhi Co Op Bank | 50000 |
| Saraswat Co-op Bank | 50,000 |
| Saurashtra Gramin Bank | 25000 |
| SBI / State Bank of India | 100,000 |
| South Indian Bank | 1,00,000 |
| Standard Charter Bank | NA |
| Standard Chartered Bank | 100000 |
| SUCO SOUHARDA SAHAKARI BANK | 8,00,000 |
| Surat People Cooperative Bank | 100,000 |
| SVC Bank | 20,000 |
| Syndicate bank | 50,000 |
| TELANGANA GRAMEENA BANK | 25000 |
| Thane Bharat Sahakari Bank | 100000 |
| Thane Janta sahakari Bank | 100000 |
| The Jammu and Kashmir Bank Ltd | 25,000 |
| The Kalyan janta sahakari Bank | 100000 |
| The Sutex Co – Op Bank | 200000 |
| TMBL | 100000 |
| UCO | 1,00,000 |
| Ujjivan Small Finance Bank | 100,000 |
| Union Bank of India | 100,000 |
| United Bank of India | 25,000 |
| Uttarakhand Gramin Bank | 25000 |
| Vananchal | 25000 |
| Varanchha Bank | 40,000 |
| Vijaya bank | 50,000 |
| Vishveshwar Co opp Bank | 1,00,000 |
| Yes bank | 1,00,000 |
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Daily Limit & Transactions Limit On PhonePe APP
- Customers 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 & Bank Transfers
To credit or debit money from your bank account, utilize the PhonePe app. The customer must add a beneficiary or recipient before any transfer. The monthly limit is Rs. 1,00,000/-. The app contains a risk policy that states that customers can’t have over Rs. 1,00,000/- in their wallets. But, one can recharge utilizing their debit or credit card of BHIM UPI. PhonePe yearly limit is Rs. 1,20,000; app customers can check their transfer to make sure it aligns with the app’s policy.
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The restrictions are pretty beneficial to customers as it helps secure them from bad money decisions or overspending. It’s as well a great way to curb theft/fraud; if anyone has access to your app, they can’t wipe the account funds at once. This will assist in tracing & changing your details if such cases arise. Moreover, PhonePe is very secure & approved by the RBI to help in financial matters in India.
PhonePe Money Transfer Limit for Wallet
PhonePe wallet is the company’s own payment option in which customers can keep their money. This can’t be transferred to any bank account but to another wallet only. PhonePe has kept a monthly & yearly limit on its wallet to avoid any risk. The company has permitted customers to load a maximum balance of Rs 10,000 monthly & Rs 1,20,000 yearly in the wallet. Apart from that, the company will not permit customers to load over Rs 10,000 in the wallet at any time. But, this rule will exempt customers who will get a refund or cancellation amount in their wallets.
PhonePe Transaction Limit For Businesses
A business has to get or cast a big amount multiple times; so, PhonePe does not levy any limit on them to do as many transactions as they want. Do note that this benefit is only for the customers who hold a PhonePe business account & have a valid shop registered within the company.
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Frequently Asked Questions
What are the UPI rules for 2023?
The NPCI has recommended an interchange fee of up to 1.1% on UPI transactions above Rs.2,000 made through PPIs. This new rule will apply from 1st April 2023. The interchange pricing will be reviewed by 30th September 2023.
What is the transaction limit for PhonePe 2023?
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.
What is the UPI transaction charges for 2023?
So, what will change from 1 April? From 1 April, 2023, an extra interchange fee of 1.1 per cent will be charged on merchant (the person or business receiving the payment) UPI transactions of over ₹2,000 using prepaid payment instruments (PPIs) – wallets or cards.
What is the limit of PhonePe transfer per day?
The PhonePe transaction limit per day is Rs. 1 lakh. Moreover, you can make 20 transactions per day through PhonePe. You can also request money up to Rs. 2000 on the PhonePe app.
What is the UPI limit for PhonePe?
Just like other applications, PhonePe also restricts the UPI transactions up to Rs 1 lakh in a day.