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.
PhonePe Wallet To Bank Transfer
Wallet To Bank Account For Business 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.
Related: Best Laptops Under 40000 in India
How to Transfer Money from PhonePe Wallet to Bank Account
Most of you know that we can transfer PhonePe Wallet Balance to a 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.
Also Read: Paytm Withdrawal Fantasy Apps
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
Conclusion
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.
If you want to know more about me, you can follow me on Instagram and YouTube also. Thanks for your time.
Also Read: Download and Earn ₹551 in Bank
I have some issues in phonepe ,how to withdraw my money wallet to bank account
use gold trick or buy anything from online stores like flipkart, myntra, etc… and pay through phonepe wallet.
Can I completely empty my phone pe wallet by paying for mobile recharge.
definitely yes
Could not tfr money from wallet to shopkeeper even having adequate balance. Why?
If you want to buy something then why you use gold trick.. its better to buy products from wallet balance.
Phonepe or phonepe business Ka account ya number same h to kaise kare
Phonepe customer care number/7430094220
How many time to verify on pan document
phonepe business app Payment show in history but not add in Bank Account
When will the amount credited to a business account if someone send u from normal account by phonepe
after 24 hrs
Sir,
I transferred Rs.9000/- from credit card to phonepe wallet. I took Rs.185/- charges and debitted to credit card Rs.185/-. I paid to an optical shop Rs.8600/- using wallet. But only Rs.8514/- was credited in their account. would you please explain whether this extra charges right as per phonepe rules. Otherwise, What should I do to save such charges?