How To Add Bank Account In PhonePe?

By Ashok Lathwal . October 21, 20212 Mins read

PhonePe is an app developed by Flipkart in India in collaboration with Yes Bank. Phonepe has been growing rapidly by adding additional features to its app. One of the most anticipated features is having bank account integration. This blog will help you understand the steps to add a bank account in Phonepe and to start using this application to transfer money online.

Add Bank Account In PhonePe With Debit Card

Follow these steps to add a bank account using Debit Card in PhonePe:

Open the PhonePe app and log in to the app with a PIN or biometric identity.
Now tap on the “My Money” option in the menu section present on the right side.
Go to the “Payment” section and click on the “Bank Accounts” option.
On the next window, tap on the “Add New Bank Account” option.
The next screen will list out all the available banks on the platform.
Select your bank and tap on it. Now, enter your mobile number linked with your bank account.
PhonePe will automatically fetch all the details of the bank accounts.
Set your UPI PIN for the bank account.
Enter the debit card details into the application. Enter the expiry date of the debit cards, if your card does not have any expiry date, then enter “01/49” in the expiry date field.
PhonePe will send you an OTP to your linked mobile number. Enter the OTP.
Your bank account will be added successfully.

Add Bank Account In PhonePe Without Debit Card

If you do not have a debit card, you can not use the UPI services of the PhonePe. However, you can always make a Virtual Debit Card and can add it to the PhonePe. Many banks including Paym Bank, Kotak Mahindra Bank, Yes Bank, and other popular banks offer their customers to get a Virtual bank account and a Virtual Debit Card.

Follow these steps to add a bank account without Debit Card in PhonePe:

First, get a virtual debit card.
Log in to the PhonePe by entering the PIN or your biometric identity.
In the menu section, click on the “My Money” option.
In the “Payment” section, click on the “Bank Accounts” option.
Now, tap on the “Add New Bank Account” option.
The next screen will list out all the available banks on the platform.
Search for your bank. For Example “Paytm Payments Bank Ltd.” Paytm Payment Bank offers your online account availability and virtual debit cards.
Choose your bank and tap on it. Now, enter your mobile number connected with your bank account.
PhonePe will automatically fetch all the details of the bank accounts.
Now enter the Virtual debit card details into the application.
Enter the OTP sent to your registered mobile number.
Your bank account will be added and will be able to use UPI services.