Send Money From PhonePe – Transfer Money

After demonetization, the digital payment goes in trend, and people are using various applications for various purposes. The trend of these wallets is increasing day by day PaytmPhonePeMobikwikGoogle PayAmazon, etc.

Pro Tip: You can also read our guide to How To Use PhonePe Switch & Their Benefits and What Is PhonePe VPA | Send & Receive Money Using VPA.

However, you can also transfer money from your one bank account to another bank account using PhonePe. No need to enter bank details like Name, Bank Account Number & IFSC.

 Download PhonePe to get rewards on first send money from PhonePe.

How To Send Money From PhonePe To Contact or Anyone

In this guide, we can see how to send money from PhonePe to anyone in our contact instantly. There are no charges for sending money.

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

Step 2: After that, you will see an option named as to contact, click on it.

PhonePe Money Transfer

Tap On To Contact.

Step 3: After that, there are two ways to send money one is using contact number and the other is using BHIM UPI ID. Select any method according to your suitability.

Transfer money

PhonePe Send Money Methods

Step 4: After selecting the contact number you need to enter the amount which you want to transfer using PhonePe.

PhonePe send money dashboard

Enter The Amount

Step 5: Now tap on pay and enter your UPI number or pin for completing the transaction.

UPI payment dashboard

Enter Your UPI Pin

Step 6: Now a successful pop-up message will come on your screen.

Transaction successful

Transaction Successful

PhonePe Transfer Limit

The PhonePe app supports various payment methods so the minimum and maximum limits are different for each payment method.

  1. UPI Transactions: The UPI limit is the same as the limit of UPI transactions.
  2. Wallet To Wallet: You can send Rs 10,000 in a single transaction while your monthly top-up limit is Rs 10,000.
  3. Debit/Credit: Same limit according to bank/card norms.
  4. Balance WithdrawalYou can withdraw a maximum of Rs 5000 per month (If PhonePe KYC is Completed).

FAQ (Frequently Asked Questions)

Can I transfer PhonePe cashback to bank account?

No, you cannot transfer PhonePe cashback to your bank account directly. But there is an alternate way from which we can do this. Firstly you need to buy gold from your cashback or wallet balance. Secondly, you need to sell that gold by the above-described methods. After selling the gold your cashback will be credited to your bank account.
Note: There will be some loss of your money. This is due to the buying rate of gold is higher than the selling rate. Approximate you will lose Rs 4 for selling the gold amount of Rs 100.

Does PhonePe need KYC?

PhonePe wallet is monitored by the RBI and after RBI Guidelines it is necessary to complete the KYC of wallet. Completing the KYC will not harm us in any manner although it will give us some additional benefits fo being a PhonePe KYC verified user.
Note: As of now you don’t need to visit anywhere to complete your KYC just like we need to visit the KYC Center Near Me to complete the Paytm KYC. There is no such PhonePe KYC near me or PhonePe KYC center near me as of now.

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.

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