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Phonepe Limit Per Day: How much can you spend every day with PhonePe for different banks

PhonePe is an Indian digital payment and financial technology company based in Bengaluru, Karnataka, India. The company was founded by Sameer Nigam, Rahul Chari, and Burzin, an Engineer, in December 2015. PhonePe, an app based on the Unified Payments Interface (UPI), went live in August 2016 and is owned by Walmart subsidiary Flipkart.

PhonePe limits UPI transactions to Rs 100,000 per day, which also depends on the bank account where the funds are transferred. PhonePe UPI transactions can be initiated a maximum of 10 or 20 times per day, depending on the bank.

 

 

Phonepe Transaction Limit Per Day For Different Banks

PhonePe UPI transaction limits are listed below by bank

NAME OF BANK PER DAY TRANSACTION LIMIT
A P Mahesh Rs 1,00,000
Aditya Birla Bank Rs 1,00,000
Airtel Payments Rs 1,00,000
Allahabad Bank Rs 1,00,000
Allahabad UP Gramin Rs 1,00,000
Andhra Bank Rs 1,00,000
Andhra Pradesh Grameen Vikas Rs 25,000
Andhra Pragathi Rs 25,000
Apna Sahakari Rs 1,00,000
Assam Grameen Rs 25,000
Axis Rs 1,00,000
Bandhan  Rs 1,00,000
Bank of Baroda Rs 50,000
Bank of Maharashtra Rs 20,000
Baroda Uttar Pradesh Gramin Rs 1,00,000
Bassein Rs 40,000
Bihar Gramin Rs 2,00,000
BOI  Rs 1,00,000
Canara Bank Rs 1,00,000
Catholic Syrian Bank Rs 1,00,000
Central Bank of India Rs 50,000
Chaitanya Godavari Gramin Bank Rs 1,00,000
Chhattisgarh Rajya Gramin Bank Rs 25,000
Citibank Rs 1,00,000
Corporation Bank Rs 1,00,000
Cosmos Rs 50,000
City Union Bank Rs 1,00,000
DBS Bank Rs 1,00,000
DCB Bank Rs 25,000
Dena Bank Rs 1,00,000
Dhanlaxmi Bank Rs 1,00,000
Deutsche Bank AG NA
Dombivli Nagri Sahakari Bank Rs 1,00,000
Equitas Small Finance Bank Payments Bank  Rs 1,00,000
Federal bank Rs 1,00,000 
Fino NA
G P Parsik Bank Rs 1,00,000 
Gujarat State Bank Rs 50,000
Hasti Rs 1,00,000 
HDFC Bank Rs 1,00,000 
HSBC Bank Rs 1,00,000 
Indian Bank Rs 1,00,000 
ICICI Bank Rs 10,000
IDBI Rs 50,000
IDFC Rs 1,00,000 
Indiusind Bank Rs 1,00,000 
Induslnd Bank Rs 1,00,000 
IOB Rs 1,00,000 
Janta Sahakari Bank NA
Kallapanna Rs 1,00,000 
Karnataka Bank  Rs 1,00,000 
Karnataka Vikas Rs 25,000
Karur Vysya Bank Rs 1,00,000 
Kaveri Rs 25,000
Kerala Grameen Bank Rs 50,000
Kotak Mahindra Bank Rs 50,000
LVB Rs 1,00,000 
Langpi Dehangi Rs 25,000
Mahanagar Bank Rs 1,00,000 
Maharashtra Grameen Bank Rs 25,000
Malwa Gramin Bank Rs 25,000
Meghalaya Rural Bank Rs 25,000
Mehasana Urban Co-operative Bank Rs 1,00,000 
NKGSB Co-Op Bank Ltd Rs 40,000
OBC Rs 1,00,000 
PNB Rs 1,00,000 
Punjab and Maharashtra Co- Op Bank Ltd Rs 1,00,000 
Paytm Payments Bank NA
Pragathi Krishna Grameen Bank Rs 20,000
Prathma Bank Rs 25,000
PSB Rs 25,000
Purvanchal Bank Rs 25,000
Rajasthan Marudhar Rs 25,000
Rajkot Nagrik Bank Rs 1,00,000
RBL Rs 1,00,000
Samruddhi Co-Op Bank Rs 50,000
Saraswat Co-op Bank Rs 50,000
Saurashtra Gramin Bank Rs 25,000
State Bank of India Rs 1,00,000
South Indian Bank Rs 1,00,000
Standard Chartered Bank Rs 1,00,000
Suco Souharda Sahakari Bank Rs 8,00,000
Surat People Cooperative Bank Rs 1,00,000
SVC Bank Rs 20,000
Syndicate Bank Rs 50,000
Telangana Grameena Bank Rs 25,000
Thane Bharat Sahakari Bank Rs 1,00,000
The Jammu and Kashmir Bank Ltd Rs 25,000
The Kalyan Janta Sahakari Bank Rs 1,00,000
The Sutex Co – Op Bank Rs 2,00,000
TMBL Rs 1,00,000
UCO Rs 1,00,000
Ujjivan Small Finance Bank Rs 1,00,000
Union Bank of India Rs 1,00,000
United Bank of India  Rs 25,000
Uttarakhand Gramin Bank Rs 25,000
Vananchal Rs 25,000
Varanchha Bank Rs 40,000
Vijaya Bank Rs 50,000
Vishveshwar Co-Op Bank Rs 1,00,000
Yes Bank Rs 1,00,000

PhonePe Transaction Limit For Businesses

The merchant solutions offered by PhonePe are used by numerous businesses for everyday activities, such as sending payments to third parties or accepting payments from their customers. Since this is the case, PhonePe doesn’t limit how many transactions a business can make through the app. In this way, regardless of how many transactions are handled in a day or week, there is always a seamless flow of funds.

Also Read: How to transfer money from PhonePe wallet to bank account

PhonePe Money Transfer Limit for Wallet

PhonePe’s app not only allows users to pay and receive money through UPI, but also has an inbuilt wallet for making payments both online and off. If an amount is added to the wallet, it cannot be taken back or transferred to any other bank account. Users are allowed to deposit a maximum of Rs 10,000 to their wallet per month, which amounts to Rs 1,20,000 per year. Any balance over Rs 10,000 can be transferred back to your wallet in case of refunds or cancellations. Limits on adding balance to a PhonePe wallet have been imposed to prevent fraudulent activity.

PhonePe Vs Google Pay Vs Paytm daily limit

Paytm UPI allows transfers of a maximum of Rs. 1 lakh a day, whereas Google Pay, like Amazon’s payment platform, does not allow transfers of more than one lakh rupees. Each UPI application has a daily transaction limit, which restricts you from sending money more than ten times daily.

Also Read: How to add a bank account in PhonePe, check bank balance and reset UPI PIN on PhonePe

FAQs

1) Why is there a limit on PhonePe transactions?

Money transactions are made easier with financial wallets. The app developers, however, set a limit for each wallet for security reasons.

2) Can you increase the transaction/wallet limit on PhonePe?

All customers are subject to the limit, which cannot be increased. However, PhonePe allows you to link multiple bank accounts to increase your UPI transaction limit. 

3) Are there any charges on PhonePe transactions?

The PhonePe app does not charge anything for UPI-based transactions.

4) NPCI and RBI have proposed a December 31 deadline for limiting player volume to 30 per cent. How will this impact the PhonePe users?

A directive from NPCI was issued in 2020 that caps the amount of transactions a third-party application provider (TPAP) can handle at 30% of the volume of UPI transactions, effective January 1, 2021, based on the volume of transactions processed for the previous three months.

However, TPAPs that already exceed the desirable market cap, like PhonePe and Google Pay, will have two additional years to comply with the directive starting next year.

5) Can I transfer Rs 3 lakh through PhonePe?

A user is allowed to transfer a maximum of Rs 1,00,000 per day per bank account. The PhonePe app has a daily limit of Rs 1,00,000.

6) Can I transfer Rs 50,000 through PhonePe?

The UPI app allows transactions up to Rs 50,000, depending on the transaction limits of the user’s bank or PSP.

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