PhonePe Limit Per Day 2024, PhonePe Transaction Limit Per Day

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

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
Surat People Cooperative Bank 100,000
SVC Bank 20,000
Syndicate bank 50,000
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.

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