Since demonetization, the country has been continuously moving towards a cashless system. People are gradually getting used to digital payments, and one of India’s leading digital payment platforms contributing to this step is PhonePe. Also Read - Google News Showcase gets support for Malayalam and Bengali
PhonePe provides a facility to transfer money between bank accounts without giving any bank details and IFSC code. You can transfer money only by knowing the mobile number and virtual payment address of the person. Also Read - Google For India event explained in pictures
The app is used for sending and receiving money and for recharging mobile, DTH, data cards, and making utility payments. PhonePe is a 24/7 service that you can use any day and from anywhere. Also Read - Google Pay Split Bill feature announced: How sharing expenses will be easier on GPay
Additionally, you can also pay at shops, invest in tax saving funds, liquid funds, buy the insurance and mutual funds, and gold. The PhonePe allows you to link two bank accounts in a single step.
Although using PhonePe is very easy, but users often get confused about how to add a bank account or transfer money through PhonePe. Follow these simple steps to link your bank account with PhonePe.
How to add a bank account on PhonePe
STEP1: Head to Google Play Store and download PhonePe
STEP2: The app should be an updated version
STEP3: Open PhonePe
STEP4: Go to the My Money Page
STEP5: Select bank accounts under payment methods
STEP6: Select your bank by clicking on the ‘Add New Bank Account’ button
STEP7: The app will fetch your account details
STEP8: Now, set up a UPI pin by clicking on the ‘Set UPI Pin’ button
STEP9: Enter the last six digits of your debit or ATM card number and expiry date
STEP10: Now use the OTP received to set your UPI PIN
STEP11: Your bank account is added successfully.
How to check the balance on PhonePe
- Open PhonePe app
- Click on the Money Transfer option
- Select bank
- Enter UPI PIN
- Now you can check your account balance