E-commerce website Flipkart’s UPI-based digital payment app PhonePe is being used across the country. It is a 24/7 service that you can use anytime and anywhere. You can transfer money from your bank account to anyone without sharing any details with the help of this app. Also Read - How to link your bank account to PhonePe
The app is available in over 11 Indian languages and can be used for sending and receiving money, recharging mobile, DTH, data cards, and making utility payments. Additionally, you can also pay at shops, invest in tax saving funds, liquid funds, buy insurance and mutual funds, and gold. Also Read - FM shares video of Oxen with QR code, showcasing country's digital payments revolution
PhonePe provides the facility of transferring money between bank accounts without giving any personal details like bank account and IFSC code. Through this method, you need to know only the mobile number and virtual payment address of the person to whom the payment is to be made. Also Read - UPI transactions value cross $100 billion for the first time in October: NPCI
You can also link two bank accounts in a single app. However, you need to follow certain steps to link your bank accounts with PhonePe.
How to add bank account on PhonePe
Step1: Go to the My Money page
Step2: Select bank accounts under Payment Methods
Step3: Click on the ‘Add New Bank Account’ option
Step4: Select your bank
Step5: It will fetch your account details
Step6: Set up UPI pin
Step7: Enter the last six digits of your Debit ATM card expiry date
Step8: Enter the OTP receive to set up your UPI pin
Step9: Your bank account is added, and you can do the transaction directly from your bank account by using your UPI pin.
How to check balance on PhonePe
- First of all, open the PhonePe app.
- Then tap on the Money Transfer option.
- After that, you have to select the bank.
- Then enter the UPI PIN.
- After this, your account balance will be visible.