Switching banks on PhonePe? Here's your step-by-step guide
What's the story
Updating or adding bank account details in PhonePe for Android is easy and convenient, allowing for greater payment flexibility. Before you begin, make sure your mobile number is linked to both your PhonePe and bank account, and that your bank is UPI-enabled. Just follow the steps below for a hassle-free update or addition.
Update steps
Step-by-step guide for updating bank details
To update your bank details in PhonePe, launch the app and sign in. Tap the profile icon located at the top left corner of the home screen. Navigate to "Payment Methods," then "Bank Accounts." For a new bank, click on "Add New Bank Account." To update an existing one, select it and follow the prompts.
Confirmation steps
Finalizing your bank account update
Choose your bank or search from the search bar. PhonePe will auto-fetch the account details with your mobile number. Click on "Proceed to Add." For UPI PIN, enter the last six digits of your debit card and the expiry date. Use the received OTP to create a UPI PIN. Confirm after verifying the details.
Security measures
Additional tips for secure transactions
When updating or adding new bank accounts in PhonePe, keep in mind that while you can link multiple accounts, only one account can be designated as the primary one for transactions. Always protect your banking info. Don't share your UPI PINs or OTPs with anyone, ever. Know your daily transaction limits. Banks have individual daily transaction limits for UPI payments, so check with your bank if needed.