PhonePe Wallet To Bank Transfer
Hello guys, I hope you all are fine and enjoying our Make Money Online articles regularly. As we all know we can’t transfer the PhonePe Wallet balance to Bank without charges. But recently PhonePe has added a new feature in PhonePe Business App. By using this feature you can easily transfer your Wallet balance to your Bank unlimited time. This is an official process launched by PhonePe. Read this article till the end for more information.
For Wallet to Bank Transfer, you need only a PhonePe account and a verified merchant account. Verified merchant account means PhonePe Business Account with agent verified.
First of all, you have to change some settings after updating the PhonePe Business App. After that wait for 24-48 hours. Then you can easily transfer your wallet balance to your bank account. This Wallet To Bank Transfer is a similar process to Paytm.
Wallet To Bank Account
- First of all, update your PhonePe and PhonePe Business App.
- Open PhonePe Business App >> click on profile >> merchant profile.
- After that tap on the daily settlement.
- Then just enter some details like PAN Card No, Bank Account Number, IFSC Code etc.
- Now after accepting all the terms and conditions your request will be settled after 48 hours.
So, this is the total process. Once the full process is done you can easily transfer your Wallet balance to your Bank by scanning QR Code. By this process, you don’t have to pay any charge. You can transfer your wallet balance to your bank account instantly without charges.
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How to Transfer Money from PhonePe Wallet to Bank Account
Most of you know that we can transfer PhonePe Wallet Balance to Bank Account using a gold trick. If you have a balance in your PhonePe wallet then you can use this balance to purchase digital gold. After 24 hours you can sell the available gold in your PhonePe Gold Wallet. The balance will immediately be transferred to your primary bank account linked with PhonePe UPI. If you are using this method then you have to remember you will not get a 100% amount in your bank account from PhonePe Wallet.
Please remember you can’t sell gold of rupees below 5. So try to purchase gold of ₹6 or more amount.
PhonePe Wallet to Bank (Gold Trick)
- Open PhonePe App.
- Tap on My Money >> Gold.
- Buy Gold >> Choose any option from MMTC-PAMP or Safegold.
- Tap on Buy Gold >> Enter Amount.
- Proceed to payment.
- Pay via PhonePe Wallet.
- After that, you can sell this available gold in your wallet after 24 hours.
- You will receive the selling amount instantly to your registered bank account linked with PhonePe UPI.
phonepe wallet to bank transfer charges
If you are using this method then you have to pay a 7% charge. For example, if you are purchasing gold of ₹100 from PhonePe Wallet then after selling you will receive around ₹93 or ₹94 in your bank account.
I feel it is fine if you are purchasing gold if you have an extra wallet balance. But if you like online shopping then my suggestion would be trying to purchase products from Flipkart through PhonePe Wallet Balance. You can also use this wallet balance to recharge, bill payments, ticket booking etc.
Also Read: Delete PhonePe Account Permanently
The basic and easiest method to transfer PhonePe Wallet Balance to Bank Account is the second one. Yes, it will take 24 hours and deduct a 6-7% charge. I always used to say people use PhonePe Wallet Balance to recharge, bill payments, shopping through Flipkart or Myntra etc.
I think now you all know PhonePe Wallet To Bank Transfer Process. If you still have any problems please comment down below. so that I can make another related to Wallet Balance Bank Transfer.
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