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One can easily add a bank account in PhonePe through the app itself. People do not need to open multiple sites or need to take third-party help to add a bank account in PhonePe. PhonePe is a financial transaction technology that allows the inflow and outflow of money through digital means.
Key takeaways:
PhonePe is a digital financial transaction tool used to make money transactions.
One can link or add their bank to PhonePe directly through the same app without the help of a third party.
PhonePe can be downloaded through the Android Play Store or the iPhone App Store.
What is the PhonePe app?
PhonePe is a financial transaction tool. It is completely digitalised and uses a unified payments interface system. PhonePe can be installed on your phone in the form of an app through the Play Store or App Store. One does not need to visit any bank to get registered.
PhonePe allows the inflow and outflow of money from one bank to another within seconds. One can choose different ways or channels to do the money transaction within the PhonePe app, like through the QR scanner, PhonePe UPI ID, directly by entering the registered mobile number, etc.
Adding a bank account in PhonePe is an easy and instant process; one needs to download the PhonePe app through the Android Play Store or the iPhone App Store.
Here are the further steps for adding a bank account:
Open the PhonePe app.
Enter the mobile number of your current phone.
Click on Proceed.
An OTP will be sent to your mobile number.
Enter the OTP and click on Verify.
Allow the use of the microphone, camera, and contacts.
Hence, these are the steps to add your bank account right after you download PhonePe.
How to add another bank account in PhonePe if a bank account is already added?
PhonePe allows adding multiple bank accounts instantly without any complexity.
Here are the steps to add multiple bank accounts in PhonePe:
Open the PhonePe app.
You will be directed to the homepage.
Now click on the star icon present at the left corner of the home screen.
Click on the Add New Bank Account option.
You will be directed to the page where there will be a list of banks with their names.
Select the bank that you want to add (make sure that the bank is active under your name and registered mobile number).
Allow SMS services.
The app will automatically send the verification SMS.
After automated verification, the bank account will be added.
After adding the bank account, you will be directed to another page.
The page will ask you to set the PIN.
Click on Set PIN.
Enter the last six digits of your debit/ATM card number and the expiry date, then use the OTP received to set your UPI PIN.
Enter the last 6 digits of the debit card number and the expiry date.
Click on Continue.
An OTP will be sent to your registered mobile number.
Enter the OTP.
Set the new UPI PIN and re-enter it to confirm, and click on Proceed.
Now your bank account is added and linked to PhonePe to carry out financial transactions.
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Tap the star icon in the left corner of the home screen and click on the Add New Bank Account option.
Select the bank that you want to add.
After selecting the bank account, the bank account will be successfully added to your PhonePe.
After this, an option will appear for a PIN reset.
Enter the last 6 digits of the debit card with the expiry month and year.
Click on Proceed.
Enter the OTP sent to your registered mobile number.
Set the UPI PIN for that bank account and re-enter it to confirm.
Now the bank account is completely linked with the UPI PIN.
Hence, this is how you can add another bank account in PhonePe instantly.
PhonePe is an app that uses the Unified Payments Interface system for financial transactions, which is completely digitalised. One can add multiple bank accounts instantly in the PhonePe app without any third-party application help.
FAQs:
What payment channels does PhonePe provide?
PhonePe provides QR scanning, UPI ID, contacts, and bank-to-bank transaction channels to people.
Which system does PhonePe use for its financial transactions?
PhonePe uses the Unified Payments Interface system for financial transactions.
Should one consider the PhonePe app completely digitalised?
Yes, the PhonePe app is a completely digital app for financial transactions.
How do I add another bank account to PhonePe?
One needs to search for 'add new bank account' by clicking on the star icon present in the left corner of the home page in the app and selecting the bank you want to add. Reset the UPI PIN, enter the debit card information of the related bank, and verify through an OTP. Set the UPI PIN and confirm it. Your new bank account will be successfully added.
What was the past name for PhonePe Private Limited?
PhonePe Private Limited was formerly known as FX Mart Pvt Ltd.
Can we transfer the money directly from one bank to another bank through PhonePe?
Yes, you can transfer money from one bank to another bank through PhonePe instantly.
What is the other UPI app besides PhonePe?
Google Pay, Paytm, etc. are other UPI apps similar to PhonePe.
Can I run a single bank account on multiple UPI apps?
Yes, you can add and run the same bank account on multiple UPI apps for financial transactions.
Can we add multiple bank accounts in PhonePe?
Yes, we can add multiple bank accounts in PhonePe.
What is the customer care number of PhonePe?
080-68727374 / 022-68727374 are the customer care numbers of PhonePe.
