Phonepe Full KYC Wallet & Free Transfer To Bank

[Abhishek012]

Phonepe Full KYC Wallet & Free Transfer To Bank:

Phonepe Full KYC Wallet option now available -

Go to Phonepe Wallet option and click on Upgrade Wallet option -

Enter your Pan number, Aadhaar number and verify with OTP (You can also use your Virtual aadhaar number),

Enter your address and other details and complete Video kyc.

Your Phonepe Wallet limit will upgrade to 2 lakhs per month.



Wallet load -

UPI - Free

Debit card - Free

Credit Card - 2.3% charges.

Wallet to Bank transfer - FREE.

Phonepe Wallet balance, Phonepe cashback/gift card used for UPI payment -

Got this SS from telegram.

 

[CosmicCat]

Folks, if I complete Full KYC in PhonePe Wallet, can I use its balance to pay any non-PhonePe user as well, like how Amazon Pay Wallet allows?

 

[SSV]

Folks, if I complete Full KYC in PhonePe Wallet, can I use its balance to pay any non-PhonePe user as well, like how Amazon Pay Wallet allows?

I dont know the specifics of your query..
but in general , Stay Away from Phone Pe full KYC wallet.. It is sh*t !!

 

[Abhishek012]

Folks, if I complete Full KYC in PhonePe Wallet, can I use its balance to pay any non-PhonePe user as well, like how Amazon Pay Wallet allows?

Phonepe Wallet UPI is not live yet, you can withdraw to your bank account free of cost.

 

[CosmicCat]

I dont know the specifics of your query..
but in general , Stay Away from Phone Pe full KYC wallet.. It is sh*t !!

Agreed. I usually don't keep PhonePe installed for its poor UX. Also, not too many online merchants accept PhonePe Wallet, and P2P transfers using the Wallet balance aren't supported either, which makes it indeed sh*tty.

Although there are many shops here which have the PhonePe QR, but as far as I know, they deduct charges from merchants regardless of the transaction amount if you pay them with PhonePe Wallet balance. So I avoid using it.

 

[Humanbeing]

I cannot withdraw even one rupee from Phonepe wallet even after 4 days
I am full KYC.

Error "declined due to security reasons" is coming every time for 3 days in a row.
I phoned the call centre and raised many tickets, but no use.
Now I have given a complaint to RBI ombudsman

How much did you add to the wallet before happening this? May be higher amount could be the reason.

 

[Humanbeing]

1 lac added.
So now will they default in repayment or will they make me wait for how long to withdraw?
Already 99 hours passed, more than 4 days and I cannot withdraw even one rupee.

Avoid Phonepe Wallet for such a huge transaction. Because at the time of full KYC you must have added the annual income & if this crosses the threshold within a month, this would trigger their security checks for users which is why your money is stuck. Try to connect with customer care, but I am afraid they might stop you using the wallet any further.

 

[BhaiyaJi]

For the entire month of September I have only deposited 2.5 lakhs and withdrawn 1.5 lakhs, both are much less than my annual income declared at the time of full KYC

Wallet limit is 2L only afaik.

 

[Humanbeing]

For the entire month of September I have only deposited 2.5 lakhs and withdrawn 1.5 lakhs, both are much less than my annual income declared at the time of full KYC

I know but Phonepe doesn’t allow you to go so aggressive in doing transaction at least my own experience I can vouch that this isn’t reliable for higher transaction as compared to Paytm.

 

[ujjwal2024]

Wallet limit for both deposit and withdrawal is 2 lacs per day, 10 lacs per month, 30 lakhs per year.
I deposited only 50000 earlier, but on 20 Sep I deposited 1 lac and they are defaulting, not allowing even Rs.1 withdrawal even after 99 hours.

Customer care says you have to wait 7 days till 27 September and then try to withdraw.
So that they get an interest free Loan for 7 days.
Hopefully it does not become a donation.

I strongly believe that this is another Paytm in the making and they will soon get banned by RBI, like Paytm

did your problem get solved?

 

[ujjwal2024]

No 7 days I cannot withdraw even 1 rupee

i was thinking of using paytm phonepay wallet....now I will skip it..
i think may be from October 1 , it will be unlocked

 

[pothi]

I don't use this wallet anymore. However, when I used to use it, I always make a few other transactions such as paying to nearby PhonePe merchants. This way I never got hold. I follow the same pattern with other wallets as well. Since PhonePe hasn't got wallet UPI, I have to search around for the merchants.

PhonePe or any other PPI wallet issuer has got to make money as well. If wallets start imposing min balance requirements, debit card charges or SMS charges, people will only show middle finger to them.

Some companies may make the money from user data.

Every wallet has the right to go to any length within the framework given to them. Even RBI can not intervene in such cases.

 

[ujjwal2024]

Which wallets can be used to pay all merchants ?
in my city there is no PhonePe merchant at all.
All the shops have Paytm and Paytm is banned by RBI

Mobiqwik is the solution...I am happy that I am able to help you...

 

[ujjwal2024]

Mobiqwik is the solution...I am happy that I am able to help you...

Use Wallet UPI option...you can pay anyone....

 

[pothi]

Which wallets can be used to pay all merchants ?
in my city there is no PhonePe merchant at all.
All the shops have Paytm and Paytm is banned by RBI

Slice, Amazon Pay wallet (full KYC), Mobiqwik, BajajFin, etc.

Here's the complete list...

Reserve Bank of India - Publications

Interesting to see Adani coming into PPI wallet business from the above list. Adani got approval on 23.08.2024, just last month.

 

[TheGuy]

Slice, Amazon Pay wallet (full KYC), Mobiqwik, BajajFin, etc.

Here's the complete list...

Reserve Bank of India - Publications

Interesting to see Adani coming into PPI wallet business from the above list. Adani got approval on 23.08.2024, just last month.

none has been able to compete with paytm's 1.5% load charge...

 

[Abhishek012]

I am full KYC.
9 days passed and I cannot withdraw even 1 rupee from my Phonepe wallet

Contact phonepe or complaint to RBI

 

[ujjwal2024]

RBI ombudsman complaint is pending.
I claimed 500000 compensation for default, stress and mental torture

I sincerely wish that you get your compensation...
Sometimes I feel do the mental anxiety justify this whole credit card use...
There is problem in every step...
As per my experience, currently I am feeling safe with HDFC and AMEX...

 

[JigmeKhesar]

Contact phonepe or complaint to RBI

hello,

do you have access to your funds now?

the problem is most likely because of your account being new and the system is coded in such a way to detect/prevent fraud.

i just couldn't transact on Jio Payments Bank with my HDFC Bank debit card. the transaction was declined every single time (even for ₹200-300) and I received call from the transaction monitoring team. my card was even blocked once when I replied no to the IVR call.

 

[JigmeKhesar]

No 10 days it still stuck. Can't withdraw even one rupee.
Account is old, I have done small transactions in the past.
But in September I became full KYC, before that I only did transactions below 10000.

that explains it, you went full throttle after KYC and it triggered the limits in their system

maybe give it a few days more. did PhonePe communicate to you in any manner about the funds being put on hold or any kind of limit/restriction on the wallet/account? i have never proceeded with wallet on PhonePe as customer service is non-existent.

i also remember doing my mobikwik full KYC via paper documentation about 9-10 years ago. now, i just want to steer clear of all these apps.

 

[_deb_]

Every day they say that the escalation department is checking on it and they need three more working days to check.
it goes on dragging on every 3 days

Can you try today? At the beginning of a new month the limits are usually reset.