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.

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.

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.

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.

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