How to Add Bank Account in PhonePe?

PhonePe is a popular Indian digital payments platform that simplifies online transactions. Linking your bank account to PhonePe allows you to make seamless payments, receive funds, and manage your finances with ease. If you’re a new PhonePe user or want to add another bank account, this guide has you covered.

Prerequisites for Adding a Bank Account

Before you begin, ensure you have the following in place:

• PhonePe App: Download the PhonePe app from the Google Play Store or Apple App Store if you haven’t already.
• Registered Mobile Number: The mobile number linked to your PhonePe account must be the same as the one registered with your bank.
• Active Bank Account: The bank account you want to add should be active and operational.
• UPI Functionality: Your bank should support UPI (Unified Payments Interface) to link with PhonePe.
• Debit/ATM Card: Have your debit or ATM card handy for setting up the UPI PIN.

Steps to Add Bank Account in PhonePe

1. Launch the PhonePe app on your smartphone and log in to your account.
2. In the bottom navigation bar of the PhonePe app, you’ll find a section named “My Money.” Tap on it.
3. Under the “Payment Methods” section, locate and tap on “Bank Accounts.“
4. You will see a list of your existing linked accounts, if any. Tap on the “Add New Bank Account” option to proceed.
5. PhonePe offers a comprehensive list of supported banks. Scroll through the list to find your bank or use the search bar for a quick lookup.
6. PhonePe will automatically fetch your account details based on the linked mobile number. This process only takes a few seconds
7. Your UPI (Unified Payments Interface) PIN is essential for authorizing transactions.
   • If you already have a UPI PIN for the bank account you’re adding, it will be linked automatically.
   • If you don’t have a UPI PIN, tap “Set UPI PIN.” You’ll need to enter your debit/ATM card details (last 6 digits and expiry date) and an OTP sent to your registered mobile number to create a new UPI PIN.

Important things to Remember

• You can link multiple bank accounts to your PhonePe app. However, you can set only one account as your primary account for transactions.
• PhonePe prioritizes security, and your bank details are safe. Ensure you never share your UPI PIN or OTPs with anyone.
• Different banks may have individual daily transaction limits for UPI payments. Check with your bank for the specific limits.

Why Link Your Bank Account with PhonePe?

There are numerous benefits to linking your bank account with PhonePe:

• Effortlessly pay bills, recharge your phone, order food, book tickets, and do much more with just a few taps.
• Instantly send and receive money directly to and from bank accounts through UPI.
• Enjoy exclusive deals, discounts, and cashback offers available to PhonePe users.
• Track your spending, set reminders, and get a consolidated view of your financial activity.

Adding your bank account to PhonePe unlocks a world of convenient digital transactions. By following the simple instructions outlined above, you can streamline your financial experience with PhonePe.