PhonePe Transaction Limit 2024

Have you ever wondered why there's a limit to how much money you can send or receive through PhonePe in a day? Knowing these limits can save you from unexpected hassles, whether paying for groceries, settling bills, or sending money to friends. PhonePe, one of India's most popular digital payment platforms, imposes a PhonePe limit per day to ensure security and manageability. These limits vary depending on several factors, including the bank you're connected with, your account type, and more.

PhonePe Transaction Limit Per Day Limit

When discussing PhonePe’s transaction limits, it’s important to consider the daily restrictions that apply to transfers. Here are some key points regarding PhonePe’s daily transaction limits:

• Maximum Daily Transaction Limit: PhonePe users can transact up to Rs. 1,00,000 per day across most linked bank accounts via UPI. This limit is consistent with the maximum many banks allow but can vary with specific banks and account types.
• Maximum Transaction Amount: The maximum amount that can be sent in a single transaction is also capped at Rs. 1,00,000. This aligns with the daily limit and ensures security and control over large transfers.
• Maximum Number of Transactions per Day: PhonePe users are generally allowed to conduct between 10 to 20 transactions per day, depending on their bank’s policies and the type of transaction.

The limits for specific banks vary. Some allow an upper limit of Rs. 1,00,000 per day, while others may have lower limits depending on the account holder’s agreement with the bank.

What is The PhonePe Limit Per Day For Banks?

Continuing from our exploration of PhonePe’s daily transaction limits, we must understand that these limits can vary significantly from one bank to another. Here is a table summarising the daily transaction limits for different banks as facilitated through PhonePe, ensuring you know exactly how much you can transfer daily.

Bank Name	Daily Transaction Limit (INR)
State Bank of India	1,00,000
HDFC Bank	1,00,000
ICICI Bank	10,000
Punjab National Bank	1,00,000
Axis Bank	1,00,000
Kotak Mahindra Bank	50,000
Yes Bank	1,00,000
Canara Bank	1,00,000
Union Bank of India	1,00,000
Bank of Baroda	1,00,000
IDFC First Bank	1,00,000
DBS Bank	1,00,000
Syndicate Bank	50,000
Jammu and Kashmir Bank	25,000
Chhattisgarh Rajya Gramin Bank	25,000
Karnataka Vikas Grameena Bank	25,000
SUCO Souharda Sahakari Bank	8,00,000
Standard Chartered Bank	1,00,000
IDBI Bank	50,000
RBL Bank	1,00,000

These limits reflect the maximum amount transacted daily through PhonePe UPI tied to the respective banks. 

*It’s crucial for users to note that these limits may be subject to change based on regulatory requirements or bank-specific policies.

PhonePe Transaction Limit for Businesses

Moving on to how PhonePe handles transactions for businesses, there’s good news for entrepreneurs and shop owners who use PhonePe for their business transactions. Unlike personal accounts, PhonePe offers a more flexible approach for business users when it comes to transaction limits.

For businesses, PhonePe understands the need for higher volumes of transactions due to the nature of commercial activities. Therefore, there is no set limit on the number of transactions a business account can handle daily. Businesses can send and receive payments throughout the day without worrying about hitting a maximum transaction ceiling.

PhonePe Wallet Transfer Limits

Next, look at the limits that apply when using the PhonePe wallet, which is another crucial aspect of managing your finances through PhonePe. PhonePe allows for a very user-friendly experience with its wallet, but there are some important limits to keep in mind:

• Maximum Wallet Top-Up: You can add up to Rs. 10,000 to your PhonePe wallet in a single month. This is the maximum amount you can store or add to your wallet within this period.
• Annual Limit: You can add a total of Rs. 1,20,000 to your PhonePe wallet over the course of a year. This annual cap is in place to safeguard against potential fraud and manage the flow of transactions.
• Wallet-to-Wallet Transfer: Transfers from one PhonePe wallet to another are also possible, but they are subject to a monthly limit of Rs. 10,000. You can’t transfer more than Rs. 10,000 to another PhonePe wallet in a month.
• Wallet to Bank Transfer: Interestingly, money added to the PhonePe wallet cannot be directly transferred back to a bank account. However, this restriction doesn’t apply to the money received as refunds or cashbacks, which can be moved to your bank account or used directly from the wallet for transactions.

How to Check PhonePe Limits?

Checking your PhonePe transaction limits is a straightforward process, and keeping track of these limits is important to manage your transactions effectively. Here’s how you can check your PhonePe limits:

• Open the PhonePe App: Start by opening your PhonePe app on your smartphone.
• Go to Your Account: Tap on your profile or avatar at the top left corner of the screen to access your account settings.
• View Profile Details: In your account section, look for options related to payment settings or similar terminology. The exact name may vary depending on the app version.
• Check Limits: Within the payment settings or account section, a subsection should list your transaction limits. This section will display your daily, monthly, and per-transaction limits.
• Bank-Specific Limits: If you need details on bank-specific limits, these might also be viewable here, or you might have to check directly with your bank.

How To Increase The PhonePe Limit?

Increasing your PhonePe transaction limits can be critical for users who frequently reach the preset boundaries set by their bank or PhonePe. Here’s a detailed guide on how you can attempt to increase these limits:

Complete Full KYC

The most straightforward way to enhance your transaction limits on PhonePe (and other digital payment platforms) is to complete the Know Your Customer (KYC) process. Full KYC verification often allows higher transaction limits than a minimum KYC.

• How to Do KYC: In the PhonePe app, navigate to your account settings and find the KYC section. You may need to provide additional identification documents like Aadhar or PAN to complete full KYC.

Link Multiple Bank Accounts

Linking multiple bank accounts to your PhonePe profile can increase your overall transaction capacity. Each link has its own set of limits, thereby multiplying your potential transaction volume.

• Adding Accounts: Go to the ‘Bank Accounts’ section in the PhonePe settings, click on ‘Add New Bank’, and follow the prompts to link additional accounts.

Upgrade Your Wallet

Upgrading your PhonePe wallet can also help raise limits, particularly for wallet transactions. An upgraded wallet usually comes with enhanced limits for both the total wallet balance and the amount you can spend or transfer.

• Wallet Upgrade Process: Within the PhonePe app, there may be an option to ‘Upgrade Wallet’ in the wallet or payments section, requiring you to provide additional identity verification.

Contact Customer Support

If the above methods do not apply or you need specific increases for business needs, contacting PhonePe customer support might be necessary. They can provide guidance based on your account status and specific requirements.

• Customer Support: The PhonePe app usually provides contact options under the ‘Help’ or ‘Support’ section.

Check for Promotional Offers

Occasionally, PhonePe may offer promotional increases in limits or special conditions that temporarily enhance your transaction capabilities. To take advantage of such offers, keep an eye on notifications and updates directly from PhonePe.

Conclusion

As we’ve explored, PhonePe sets certain limits on how much money you can send or receive each day. These limits help keep your money safe but can vary depending on which bank you’re with or if you’re using PhonePe for business. Remember, you can check these limits easily in your PhonePe app, and if you need to handle more money, you can increase your limits by providing more information about yourself or adding more bank accounts.

To keep things simple, always make sure to complete your KYC, link multiple bank accounts if necessary, and keep an eye on any updates from PhonePe about your transaction capabilities. If you ever get stuck or need more help, PhonePe’s customer support is there to assist you.

Understanding these limits is crucial for managing your daily transactions smoothly and avoiding surprises. So, take a little time to get familiar with these rules, and you’ll be ready to use PhonePe efficiently and securely.