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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