PhonePe transaction limit per day: What is the maximum money transaction limit per day on PhonePe for different banks | 91mobiles.com
PhonePe, just like several other digital payment apps, has certain restrictions on the number and amount of transactions you can deal with on a daily or monthly basis. These restrictions known as limits are applicable for different kinds of payment modes on the app be it UPI or wallet. Then there are limits set by the banks as well to which your UPI ID is linked to. In this article, we’ll be telling you the per-day transaction limits on PhonePe as well as other limits set on wallets and business-based payments.
PhonePe transaction limit per day limit
Since 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, just like other bank transfer modes such as 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 of Rs 1,00,000 – A user can transfer a total amount of upto Rs Rs 1,00,000 per day. This limit also varies from bank to bank.
- A maximum of 10 or 20 transactions per day – PhonePe users can only transact upto 10 or 20 times on a daily basis, depending on the bank.
- Request upto a maximum of Rs 2,000 – A PhonePe user can request a maximum amount of just Rs 2,000 from someone in a day.
What is the PhonePe limit per day for banks?
Here is a list of bank-wise transaction limits for PhonePe UPI.
| 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
Many business owners utilise PhonePe’s merchant solutions for day-to-day activities such as sending payments to other parties or accepting payments from their end customers in exchange for goods and services. Keeping this into consideration, PhonePe doesn’t have a limit on the number of transactions a business can make through the app. This way, no matter how many transactions have been dealt with during a day or a week, there’s always a seamless flow of funds inwards and outwards.
PhonePe wallet transfer limits
Apart from allowing users to pay and receive money through UPI on its app, PhonePe also has an inbuilt 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 taken back or transferred to any bank account. The company allows users to add a maximum of Rs 10,000 monthly to their wallet, which accounts for a total of Rs 1,20,000 maximum limit annually. However, in case of refunds or cancellations, any balance of more than Rs 10,000 can be added back to your wallet. Such limits for adding balance to a PhonePe wallet have been imposed to avoid any risk of fraudulent transactions.
FAQs
Why does PhonePe have a transaction limit?
PhonePe restricts a user to exceed a particular amount or number of transactions to prevent the misuse of funds in a bank account in case the user’s mobile phone gets stolen or the PhonePe account gets hacked. With transaction limits in place, fraudsters won’t be able to withdraw the whole amount.
How to increase PhonePe transaction limit?
Currently, there’s no provision to increase the transaction limits on PhonePe UPI or wallet-based payments. PhonePe works on the UPI framework, which has its guidelines laid down by NCPI and RBI.
Are there any charges on PhonePe transactions?
No, all the UPI-based transactions done through the PhonePe app are free of charge. As a matter of fact, irrespective of the app or platform, any organisation or company offering the UPI functionality cannot charge the account holder for making and receiving payments. Even the Finance Ministry has clarified that UPI transactions will remain free after a rumour surfaced that the government is planning to impose a fee on the usage of UPI.
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