PhonePe ATM | How To Withdraw Cash From PhonePe ATM

PhonePe has now launched an ATM service for its users from which anyone who needs cash can withdraw the money from their bank account in a few simple steps and by visiting the nearest PhonePe ATM. The ATM service is a very attractive concept that will lead to creating competition with other payment giants like Paytm, Amazon Pay, Freecharge, etc.

Pro Tip: You can read our guide on How To Set PhonePe Lock- Step By Step Guide and How To Use PhonePe Switch & Their Benefits

Download PhonePe app and get exciting rewards on your first send money from PhonePe.

What Is PhonePe ATM

PhonePe ATM is the unique feature of PhonePe which was released on Thursday, 23 January 2020. This feature is currently rolled out for the user of the Delhi/NCR region on a trial or pilot basis. By this, our nearby stores will act as ATM and we can withdraw money directly from our bank account. PhonePe helps us to find and call the nearest PhonePe ATM location directly from the app.

Pro Tip: You can also read our step by step guide on 5 Incredible PhonePe Tips And Tricks and Recover Money Sent to a Wrong Account in PhonePe.

Basically what happens when we need money, simply go to the nearest ATM and withdraw money from our bank account using ATM card. But with the help of PhonePe ATM customers can withdraw cash without any hassle through the registered merchant.

A great initiative for getting customers and merchants that will lead to an increase in the number of UPI transactions.

You can also watch our video on how to find PhonePe ATM near me.

https://www.youtube.com/watch?v=AkVhZ8gMNdA

How To Withdraw Cash From PhonePe ATM

This process is as simple as we withdraw the money from the ATM. For some users, this will be more convenient as compared to the normal bank’s ATM. PhonePe helps you to find the nearest stores from which you can withdraw the money when your bank atm is not working due to any conditions.

Step 1: First of all you launch your PhonePe and make sure to login to your PhonePe account.

Step 2:  Now tap on stores located at the bottom of your screen.

PhonePe Stores

Tap On Stores

Step 3: Now you need to tap on PhonePe ATM to withdraw the cash from the nearest PhonePe trusted merchant.

PhonePe ATM

Tap On PhonePe ATM

Step 4: At this step, you can see all PhonePe ATM merchants near me with their shop address, approximate distance from your location, and open/closed status of the outlet.

PhonePe ATM Merchant lists

Select The Outlet To Withdraw Cash

Step 5: After selecting the merchant according to your suitability you need to visit the stores to withdraw the money from your bank account. You can also see a note that this outlet is a PhonePe ATM. Simply click on Withdraw Cash.

PhonePe ATM Outlet Details

Details Of Merchant

Step 6: Now you need to pay the amount which you wish to withdraw and make payment. As of now, there is only UPI methods are available for availing this feature. Once the money is a successful transfer, show it to the merchant and collect the cash.

PhonePe Payment

Send Money & Collect Cash

Things To Remember

I have listed some important points which you need to considered while using the PhonePe ATM service.

  1. Before making the payment to the merchant that you want to withdraw the money using PhonePe ATM.
  2. You can transfer money using UPI. There is no other payment methods are available as of now.
  3. PhonePe does not charge any amount from the user and merchant for this service.
  4. As of now, the withdrawal limit is Rs 1000 per day.

Benefits For PhonePe Users

There are lots of benefits of this unique service launched by digital payment giants.

  1. No transaction fees will be applied like bank charges money after some limit.
  2. Withdrawal limits are the same as set by their bank.
  3. If your nearest ATM is not working due to any conditions like out of service, no money in ATM, and many more than you can use this.
  4. No need to carry ATM for withdrawing cash.
  5. You can easily locate any nearest ATM directly from the PhonePe app.
  6. There are already 70,000 merchants are registered for providing the ATM service.

Benefits For PhonePe Merchants

PhonePe is not the first platform to launch the ATM service many other giants have already launch this service on their outlets.

  1. Any merchant can sign up or register for the ATM on the PhonePe Business app.
  2. No charges for registering for PhonePe ATM.
  3. Every merchant has the option to enable or disable the ATM service at any time.

FAQ (Frequently Asked Questions)

What Is PhonePe QR Code?

PhonePe QR code is a barcode that can only be readable by smartphones. You can generate your own QR code by following this method. QR code stands for Quick Response Code is a type of 2D bar code that often used to receive money in many digital wallets like PaytmMobikwikGoogle PayAmazon, etc.
Note: No need to enter any details while sending money like Phone NumberBank Account details.

Can we send money from PhonePe to bank accounts?

PhonePe is a BHIM UPI based app to provide digital payments or cashless. PhonePe is a mobile wallet, we can use it for availing the available services. Some of the services are, Electricity Bill PaymentWater Bill PaymentBuy GoldSell GoldMetro Recharge. There are two ways of sending money to the bank account.
1. Send money to your own bank account.
2. Send money to someone bank account.

How to know Paytm KYC is completed or not?

You will get a Blue verified tick in your profile section if your KYC is completed. And if you didn’t get the Blue verified tick in your profile section it means your KYC is not completed. Now the first step is to complete KYC. There are a few steps which are to be followed to check the KYC is completed or not.

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