PhonePe, like many other digital payment apps, has certain limits on the number and amount of transactions you can perform on a daily or monthly basis. These limits, known as limits, apply to different payment modes within the app, be it UPI or wallet. Then the limits set by the banks as well as your UPI ID are linked. In this article, we will tell you the daily transaction limits on PhonePe as well as other restrictions set on wallets and business-based payments.
PhonePe transaction limit is limit per day
As PhonePe works on the UPI (Unified Payments Interface) platform, users can make payments directly from their bank accounts on a real-time settlement basis. However, like other bank transfer modes like NEFT and IMPS, there are certain limits on the number and amount of transactions that can be done through PhonePe in a day.
The transaction limits on PhonePe UPI are as follows:
- Daily limit is Rs. 1,00,000 – A user spends Rs. 1,00,000 total amount can be transferred. This limit also varies from bank to bank.
- Maximum 10 or 20 transactions per day – PhonePe users can only transact 10 or 20 times daily depending on the bank.
- A maximum of Rs. Request up to 2,000 – PhonePe user in one day from one to a maximum of just Rs. 2,000 can be requested.
What is the PhonePe limit per day for banks?
Here is the list of bank wise transaction limits for PhonePe UPI.
|Bank Name||Transaction limit per day|
|AP 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 Rural||Rs. 1,00,000|
|Andhra Bank||Rs. 1,00,000|
|Andhra Pradesh Rural Development||Rs.25,000|
|Apna is a contributor||Rs. 1,00,000|
|Bank of Baroda||Rs.50,000|
|Bank of Maharashtra||Rs.20,000|
|Baroda Uttar Pradesh Rural||Rs. 1,00,000|
|Rural Bihar||Rs. 2,00,000|
|Canara Bank||Rs. 1,00,000|
|Catholic Syrian Bank||Rs. 1,00,000|
|Central Bank of India||Rs.50,000|
|Chaitanya Godavari Grameen Bank||Rs. 1,00,000|
|Chhattisgarh Rajya Gramin Bank||Rs.25,000|
|City Bank||Rs. 1,00,000|
|Corporation Bank||Rs. 1,00,000|
|City Union Bank||Rs. 1,00,000|
|DBS Bank||Rs. 1,00,000|
|Dena Bank||Rs. 1,00,000|
|Dhanalakshmi Bank||Rs. 1,00,000|
|Deutsche Bank AG||that|
|Dombivili Nagri Cooperative Bank||Rs. 1,00,000|
|Equitas Small Finance Bank is a payments bank||Rs. 1,00,000|
|Federal Bank||Rs. 1,00,000|
|GP Parsik Bank||Rs. 1,00,000|
|Gujarat State Bank||Rs.50,000|
|HDFC Bank||Rs. 1,00,000|
|HSBC Bank||Rs. 1,00,000|
|Indian Bank||Rs. 1,00,000|
|Indicind Bank||Rs. 1,00,000|
|INDUSLAND BANK||Rs. 1,00,000|
|Janata Cooperative Bank||that|
|Karnataka Bank||Rs. 1,00,000|
|Karur Vysya Bank||Rs. 1,00,000|
|Kerala Grameen Bank||Rs.50,000|
|Kotak Mahindra Bank||Rs.50,000|
|Mahanagar Bank||Rs. 1,00,000|
|Maharashtra Grameen Bank||Rs.25,000|
|Malwa Grameen Bank||Rs.25,000|
|Meghalaya Rural Bank||Rs.25,000|
|Mehsana Urban Co-operative Bank||Rs. 1,00,000|
|NKGSB Co-op Bank Limited||Rs.40,000|
|Punjab and Maharashtra Co-op Bank Ltd||Rs. 1,00,000|
|Paytm Payments Bank||that|
|Pragathi Krishna Gramin Bank||Rs.20,000|
|Marudhar of Rajasthan||Rs.25,000|
|Rajkot Nagarik Bank||Rs. 1,00,000|
|Samriddhi Co-op Bank||Rs.50,000|
|Saraswat Co-op Bank||Rs.50,000|
|Saurashtra Grameen 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|
|Suko Souharda Sahakari Bank||Rs. 8,00,000|
|Surat People Cooperative Bank||Rs. 1,00,000|
|Telangana Grameen Bank||Rs.25,000|
|Thane Bharat Cooperative Bank||Rs. 1,00,000|
|JAMMU AND KASHMIR BANK LIMITED||Rs.25,000|
|Kalyan Janta Sahkari Bank||Rs. 1,00,000|
|The Sutex Co – Op Bank||Rs. 2,00,000|
|Ujjeevan Small Finance Bank||Rs. 1,00,000|
|Union Bank of India||Rs. 1,00,000|
|United Bank of India||Rs.25,000|
|Uttarakhand Grameen Bank||Rs.25,000|
|Visveshwar Co-op Bank||Rs. 1,00,000|
|Yes Bank||Rs. 1,00,000|
PhonePe transaction limit for businesses
Many business owners use PhonePe Merchant Solutions For day-to-day operations such as sending payments to other parties or accepting payments from their end customers in exchange for goods and services. Considering this, PhonePe has no limit on the number of transactions that can be done through the app. This way, no matter how many transactions happen in a day or week, there is always a seamless flow of funds in and out.
PhonePe Wallet Transfer Limits
Apart from allowing users to pay and receive money through UPI in its app, PhonePe also has a built-in wallet that can be used to make payments for goods and services both online and offline. Once an amount is added to the wallet, it cannot be withdrawn or transferred to any bank account. The users of the company can add to their wallet a monthly maximum of Rs. 10,000 per annum allowing it to be added Rs. 1,20,000 has a maximum limit. However, in case of refunds or cancellations, Rs. Any balance above 10,000 can be added back to your wallet. Such limits are imposed to add balance to the PhonePe wallet to avoid the risk of fraudulent transactions.
Frequently Asked Questions
Why does PhonePe have a transaction limit?
PhonePe restricts the user from exceeding a certain amount or number of transactions to prevent misuse of funds in the bank account in case the user’s mobile phone is stolen or the PhonePe account is hacked. As transaction limits are in place, fraudsters cannot withdraw the entire amount.
How to increase PhonePe transaction limit?
Currently, there is no provision to increase transaction limits on PhonePe UPI or wallet based payments. PhonePe works on the UPI framework, which has guidelines set by NCPI and RBI.
Are there any charges on PhonePe transactions?
No, all UPI based transactions through the PhonePe app are free. In fact, any organization or company providing UPI functionality, irrespective of the app or platform, does not charge the account holder for making and receiving payments. The finance department has also clarified that UPI transactions are free After rumors surfaced that the government was planning to impose a fee on the use of UPI.