PhonePe transaction limit per day: What is the maximum money transaction limit per day on PhonePe for different banks

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 BANKPER DAY TRANSACTION LIMIT
A P MaheshRs 1,00,000
Aditya Birla BankRs 1,00,000
Airtel PaymentsRs 1,00,000
Allahabad BankRs 1,00,000
Allahabad UP GraminRs 1,00,000
Andhra BankRs 1,00,000
Andhra Pradesh Grameen VikasRs 25,000
Andhra PragathiRs 25,000
Apna SahakariRs 1,00,000
Assam GrameenRs 25,000
AxisRs 1,00,000
BandhanRs 1,00,000
Bank of BarodaRs 50,000
Bank of MaharashtraRs 20,000
Baroda Uttar Pradesh GraminRs 1,00,000
BasseinRs 40,000
Bihar GraminRs 2,00,000
BOIRs 1,00,000
Canara BankRs 1,00,000
Catholic Syrian BankRs 1,00,000
Central Bank of IndiaRs 50,000
Chaitanya Godavari Gramin BankRs 1,00,000
Chhattisgarh Rajya Gramin BankRs 25,000
CitibankRs 1,00,000
Corporation BankRs 1,00,000
CosmosRs 50,000
City Union BankRs 1,00,000
DBS BankRs 1,00,000
DCB BankRs 25,000
Dena BankRs 1,00,000
Dhanlaxmi BankRs 1,00,000
Deutsche Bank AGNA
Dombivli Nagri Sahakari BankRs 1,00,000
Equitas Small Finance Bank Payments BankRs 1,00,000
Federal bankRs 1,00,000
FinoNA
G P Parsik BankRs 1,00,000
Gujarat State BankRs 50,000
HastiRs 1,00,000
HDFC BankRs 1,00,000
HSBC BankRs 1,00,000
Indian BankRs 1,00,000
ICICI BankRs 10,000
IDBIRs 50,000
IDFCRs 1,00,000
Indiusind BankRs 1,00,000
Induslnd BankRs 1,00,000
IOBRs 1,00,000
Janta Sahakari BankNA
KallapannaRs 1,00,000
Karnataka BankRs 1,00,000
Karnataka VikasRs 25,000
Karur Vysya BankRs 1,00,000
KaveriRs 25,000
Kerala Grameen BankRs 50,000
Kotak Mahindra BankRs 50,000
LVBRs 1,00,000
Langpi DehangiRs 25,000
Mahanagar BankRs 1,00,000
Maharashtra Grameen BankRs 25,000
Malwa Gramin BankRs 25,000
Meghalaya Rural BankRs 25,000
Mehasana Urban Co-operative BankRs 1,00,000
NKGSB Co-Op Bank LtdRs 40,000
OBCRs 1,00,000
PNBRs 1,00,000
Punjab and Maharashtra Co- Op Bank LtdRs 1,00,000
Paytm Payments BankNA
Pragathi Krishna Grameen BankRs 20,000
Prathma BankRs 25,000
PSBRs 25,000
Purvanchal BankRs 25,000
Rajasthan MarudharRs 25,000
Rajkot Nagrik BankRs 1,00,000
RBLRs 1,00,000
Samruddhi Co-Op BankRs 50,000
Saraswat Co-op BankRs 50,000
Saurashtra Gramin BankRs 25,000
State Bank of IndiaRs 1,00,000
South Indian BankRs 1,00,000
Standard Chartered BankRs 1,00,000
Suco Souharda Sahakari BankRs 8,00,000
Surat People Cooperative BankRs 1,00,000
SVC BankRs 20,000
Syndicate BankRs 50,000
Telangana Grameena BankRs 25,000
Thane Bharat Sahakari BankRs 1,00,000
The Jammu and Kashmir Bank LtdRs 25,000
The Kalyan Janta Sahakari BankRs 1,00,000
The Sutex Co – Op BankRs 2,00,000
TMBLRs 1,00,000
UCORs 1,00,000
Ujjivan Small Finance BankRs 1,00,000
Union Bank of IndiaRs 1,00,000
United Bank of IndiaRs 25,000
Uttarakhand Gramin BankRs 25,000
VananchalRs 25,000
Varanchha BankRs 40,000
Vijaya BankRs 50,000
Vishveshwar Co-Op BankRs 1,00,000
Yes BankRs 1,00,000

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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