Using PhonePe, you can send money, pay bills, recharge your mobile, and shop online. However, like any financial service, PhonePe has specific limits on the transactions users can make. These limits keep users safe from potential fraud and unauthorized activities. However, they might be problematic for those who need to conduct larger transactions for various purposes.
In this article, we have discussed how to increase the PhonePe limit, PhonePe wallet transaction limit and UPI transaction limit.
Also read: PhonePe refer and earn explained
Increase the PhonePe limit
You should know that PhonePe has a UPI transaction limit of Rs. 1 lakh per transaction and a daily limit of 10 to 20 transactions depending on your account. However, your transaction limits can vary based on the bank account linked to your PhonePe app.
To make a UPI transaction on PhonePe, you must link a bank account. Different banks have their own specific limits for transactions. For instance, if you have linked a Bank of Baroda account to your PhonePe app, the maximum transaction limit per transaction is Rs. 25,000, and the daily transaction limit is Rs. 50,000. Similarly, for other banks like HDFC and SBI, the maximum transaction limit per transaction is Rs. 1 lakh.
These limits apply to all customers of the respective banks and cannot be increased under any circumstances.
If you wish to increase your UPI transaction limit, linking multiple bank accounts to your PhonePe app is the only solution. However, please note that the transaction limit will still depend on the individual banks you have linked.
Phone wallet transaction limits
Below we have discussed the PhonePe wallet transaction per day, per month and financial year.
|KYC status||Per transaction||Per day||Per month||Per financial year|
|Full KYC||Rs. 1,00,000||Rs. 1,00,000||Rs. 1,00,000||Rs. 2,00,000|
|Min-KYC||Rs. 10,000||Rs. 10,000||Rs. 10,000||Rs. 1,20,000|
UPI transaction limits
Below we have mentioned daily transaction limits by various banks.
|Banks||Daily transaction limits|
|Bank of Baroda||Rs. 25,000|
|Canara Bank||Rs. 25,000|
|ICICI Bank||Rs. 1,00,000|
|SBI Bank||Rs. 1,00,000|
|HDFC Bank||Rs. 1,00,000 (Rs. 5,000 for new users)|
|Axis Bank||Rs. 1,00,000|
PhonePe has UPI transaction limits that vary depending on the bank account linked to the app. The maximum transaction limit per transaction is generally Rs. 1 lakh. However, individual banks may impose lower transaction limits. Users can link multiple bank accounts to the PhonePe app to increase the overall transaction limit. Users should stay informed about the latest limits and guidelines to ensure smooth and secure transactions.
Also read: Why is my PhonePe money transfer pending?