PhonePe transaction limit details: Has the transaction limit changed after Govt. order?

Google Pay, PhonePe, and or UPI-based applications have been subjected to a 30% transactional volume cap. This simply translates to end-users of UPI applications to get some constraints on ir PhonePe transfer limit and PhonePe transaction limit along with limitations on or UPI apps. However, PhonePe mselves have t anunced any information about ir revised PhonePe limit yet or details about PhonePe Maximum transfer. official website of UPI portal has carefully listed down all details about transaction limits on ir portal. Check out all details about PhonePe transactional limits and more below:

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PhonePe transaction limits 

You can transfer funds from Your PhonePe KYC Wallet to any Bank account of a pre-registered beneficiary. In case of such pre-registered beneficiaries, funds transfer limit shall t exceed Rs.1,00,000/- per month per beneficiary.

You will be able to load money in PhonePe KYC Wallet within regulatory permissible limits or any limits applied on basis our internal risk policies. available balance in Your PhonePe KYC Wallet shall however t exceed INR 100,000/- (Rupees One Lakh) at any given point of time. Money can be topped-up through BHIM UPI, or a debit/credit card, or from refunds that might arise due to cancellations and returns of your transactions on PhonePe application or on Merchant Platforms.

Loading limits shall apply to Your PhonePe Wallet, with a Monthly limit of Rs, 10,000/- and an annual limit (Financial Year) of Rs. 1,20,000/-. Furr, Your PhonePe Wallet balance shall be limited to Rs. 10,000/- at any point in time and You may t be allowed to add funds in case Your PhonePe limits are triggered except in case of refunds on cancelled transactions, wherein balance may be higher than limit of Rs. 10,000/-.

While You can use Your PhonePe Wallet for purchase of goods and services on merchants that accept PhonePe Wallet with a debit limit of Rs. 10,000/- per month, You cant transfer Your PhonePe Wallet balance to any or PhonePe Wallet user t can withdraw funds to a bank account or a credit card, except for any specific conditions specified by regulator.

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In October 2020 itself, UPI had anunced that it recorded 2,071.62 million transactions out of which 1,655 million transactions were done on eir GPay or PhonePe. Whereas, Amazon Pay and PayTM hold ar significant market value in UPI. In a few months, it is expected that PhonePe and or portals will be capping limit of transactions people can do on ir portal. 

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