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What is PhonePe’s daily transaction limit?

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  • 3 min read

As per the latest government orders, Phonepe now allows you to make transactions of up to Rs. 3 lakh per day. The daily transaction limit also varies directly as per the government’s guidelines. RBI revised the transaction limits from Rs. 10,000 to Rs. 20,000 per day. This change is significant as it affects how users use their money and interact with banks.

This article explains how the limits feature of Phonepe works now and how the users can use it effectively.

Also Read: How to add another bank account in PhonePe?

PhonePe’s limit per day

In Phonepe, you can use the linked bank accounts and debit or credit cards to make purchases and personal payments. But there exists an upper limit while carrying out such transactions in Phonepe. There is an individual limit of Rs. 1 lakh per day for such transactions. Additionally, you can make up to 20 UPI transactions daily, and this limit is applicable for all the linked bank accounts in Phonepe.

  • Maximum transferrable amount per transaction = Rs. 1 Lakh
  • Maximum transferrable amount per day = Rs. 1 Lakh
  • Maximum number of transaction limit throughout 24hr = 20

For example, you can make one transaction of Rs. 1 lakh daily. But post this, your limit will exhaust, and you will not be able to make any further transactions throughout the day for the next 24hrs. However, you can do multiple transactions in a day, but the total expenditure from all your transactions would not exceed the daily total of Rs. 1 Lakh.

Another scenario could be that you complete exactly 20 transactions for a day, but your daily transfer limit has not been exhausted yet. But since you’ve made the maximum number of transactions for the day, you won’t be allowed to perform any further transactions. Therefore, choose your transactions wisely to avoid overspending beyond the limits.

Transfer limit from phone wallet to a bank account

With Phonepe, you can transfer the balance amount from your wallet to the linked bank account. To do so, you must add a bank account as a beneficiary in Phonepe. If the beneficiary details already exist in Phonepe, the limit of wallet transactions is Rs. 1 lakh. Therefore as per the transaction limits, you can transfer only Rs. 1 lakh from the wallet to your bank account in any month. A transaction of more than Rs. 1 lakh cannot be made through Phonepe wallet to the customer’s bank account.

PhonePe’s daily transfer limit on the wallet

Phonepe also has a rigid risk policy that allows you to keep a balance of only Rs 1 lakh in your wallet at any time. You can top up your wallet using debit/ credit cards or BHIM UPI ID. The money in your wallet will include the refund amount, which will credit back to the wallet if a transaction is unsuccessful.

Moreover, the monthly limit on Phonepe has been extended to Rs 10,000 and the yearly limit to Rs 1.20,000. You can also make cash withdrawals or online merchant payments using the wallet balance. But there is an applicable debit limit of Rs. 10,000 per month for such transactions.

Also Read: How to remove a bank account from PhonePe?

Prachi Shah

She writes about technical elements and tech guides for daily operated applications and is typically familiar with Windows or application errors. She indulges herself in reading books and poems or baking when not writing. She does sketching and enjoys her favourite playlist with a hot, brewed cup of coffee.

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