Open the PhonePe app on your smartphone. Tap on the option ‘My Money’. Now go to Wallets/Gift Voucher section and tap on the option ‘PhonePe Wallet’. Tap on the ‘Withdrawal’ tab, which is there at the top of the screen. Drag down the wallet icon and drop it on your bank icon.
Can I transfer my PhonePe Wallet balance to another PhonePe user? You cannot transfer your PhonePe Wallet balance to another user's wallet. You can only transfer money through UPI. However, you can use your PhonePe Wallet balance to recharge, pay bills and make other merchant payments on PhonePe. Learn more about the purchase limits while using your PhonePe Wallet.
PhonePe doesn’t allow you to directly transfer your PhonePe wallet balance into your bank. However, you can use that wallet money to buy and sell gold on the platform. The amount generated from selling gold on the platform can be credited to your bank account. Here’s how you can transfer your PhonePe wallet money to bank after purchasing gold online.
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Open the Phonepe app on your Mobile Phone. On the Home screen, you will see an option ‘Send Money to Bank A/C’. After clicking on the above option, you will see many other options on the next screen, like ‘To Own Account’, ‘To Mobile Number’, ‘To Bank Account’,’To UPI ID’.
PhonePe has the option of transferring money from PhonePe Wallet to a bank account. However, the platform doesn’t allow you to directly send the amount to your bank account.
Here is how to transfer PhonePe wallet money to a bank account: Launch PhonePe on your device. From the home page, you need to click on the 'Add Bank' option to update your bank account details on the app. Skip this step if you have already updated your bank details on PhonePe.
PhonePe is currently not utilising Full KYC. If you're a Full-KYC user, you will not be able to top-up or withdraw your wallet balance. Instead, you can use your wallet balance for making payments from the PhonePe app. If you still wish to withdraw your wallet balance, you have the option to close your wallet and withdraw the balance.