Do you know your PhonePe VPA, if not read this article from which you will get to know about your PhonePe VPA, and what is the use of that VPA?
Table of Contents
What Is PhonePe VPA
PhonePe VPA is a Virtual Payment Address that links the unique user of PhonePe to their respective bank accounts. A VPA is used in place of your bank account details.
You can use your VPA (Virtual Payment Address) to any online merchant so that they can request the money for their given services.
Download PhonePe to get exciting rewards on your first send money from PhonePe.
How To Check PhonePe VPA
It is a very simple method to check your VPA (Virtual Payment Address) and from that, you can also receive money directly into your registered bank account. While creating your VPA you need to make it a unique ID that is not already in use.
If your mobile number is 123456789 then your VPA address will be 123456789@ybl.
You can also use your registered email id for your VPA.
Step By Step Guide To Check PhonePe VPA
Right now there is only one method to find your VPA. Here is our step-by-step guide to knowing your VPA.
Step 1: First of all you launch your PhonePe and make sure to login to your PhonePe account.
Step 2: Now tap on your profile which is located at the top left corner of your screen.
Step 3: Now you have to tap on My BHIM UPI ID to check your VPA (Virtual Payment Address) and remember it for easy access.
Step 4: Now you can see your all PhonePe VPA (Virtual Payment Address) here.
How To Send Money Using PhonePe VPA
Do you know you can send & receive money from PhonePe in multiple ways? The methods are listed below you can also go through these to know how to send money.
Step 1: First of all you launch your PhonePe and make sure to login to your PhonePe account.
Step 2: Now tap on To Contact in the Money Transfers section.
Step 3: After that tap BHIM UPI ID to send money directly into the bank account.
Step 4: After that, you have to tap on the ADD BHIM UPI ID of the receiver to send money. Also, you can send money using the mobile number.
Step 5: At this step, you need to enter the VPA details of the receiver.
Step 6: After entering the details, you need to verify the receiver details whether you are sending money to the right person or not and then continue to send money.
Step 7: Now you have to enter the amount which you want to send. After entering the amount complete the payment by entering your UPI Pin.
Step 8: After this, you will see a notification of Transaction Successful and the amount will be credited to the receipt accounts within a minute.
PhonePe Transfer Limit
The PhonePe app supports various payment methods so the minimum and maximum limits are different for each payment method.
- UPI Transactions: The UPI limit is the same as the limit of UPI transactions.
- Wallet To Wallet: You can send Rs 10,000 in a single transaction while your monthly top-up limit is Rs 10,000.
- Debit/Credit: Same limit according to bank/card norms.
- Balance Withdrawal: You can withdraw a maximum of Rs 5000 per month (If PhonePe KYC is Completed).
How To Receive/Request Money Using PhonePe VPA
You can request money using PhonePe VPA and receive money directly into your bank account.
Step 1: First of all you launch your PhonePe and make sure to login to your PhonePe account.
Step 2: Now you have to tap on request under the money transfer section. If it is not visible then swipe left.
Step 3: After that tap on BHIM UPI ID.
Step 4: At this step, you have to enter the VPA ID to receive money.
Step 5: After entering the details, you need to verify the details of whether you are requesting the money to the right person or not and then continue to receive money.
Step 6: Now you have to enter the amount which you want to request. After entering the amount tap on request to complete the transaction.
Step 7: After this, you will see a notification of Requested Successful and the amount will be credited to your bank account when the requested person completes the transaction from their end.
Once you have requested the money successfully the receiver will receive a text message and also a pop-up notification on their PhonePe app. You can see below how the receiver will approve your requested money.
Step By Step Guide To Approve Requested Money In PhonePe
It is up to you whether you approve the requested money or not. Simply you can approve or decline the request.
Step 1: The person will receive the text message and a popup notification on their phone if someone requested money.
Step 2: Tap on Pay to go to the payment page to complete the transaction. If you don’t want to approve this simply decline, the transaction will cancel.
Step 3: After this, you will see a notification of Transaction Successful and the amount will be credited to the requested bank account.
FAQ (Frequently Asked Questions)
No, you cannot transfer PhonePe cashback to your bank account directly. But there is an alternate way from which we can do this. Firstly you need to buy gold from your cashback or wallet balance. Secondly, you need to sell that gold by the above-described methods. After selling the gold your cashback will be credited to your bank account.
Note: There will be some loss of your money. This is due to the buying rate of gold being higher than the selling rate. Approximate you will lose Rs 4 for selling the gold amount of Rs 100.
Yes, you can recharge the metro card from PhonePe and Paytm. They are easy to use and one of them is described above from which you can recharge the Delhi Metro card online. After a successful transaction, you have to tap on Automatic Vending Machine (AVM) at any Metro Station to credit the amount to your Smart Card.
PhonePe is a mobile wallet, we can use it for availing of the available services. Some of the services are, Send Money, Electricity Bill Payment, Water Bill Payment, Buy Gold, Sell Gold, Metro Recharge. Just follow the instruction to know how to pay the Electricity Bill from PhonePe.