Hi guys, I hope all of you are fine. Today in this post, I will tell you how to transfer the PhonePe Wallet Balance into Bank Account. PhonePe doesn’t allow its users to directly transfer their wallet balance into their bank account. PhonePe allows its users to buy and sell gold or use the wallet balance to buy products. But there is no direct way to transfer the PhonePe wallet balance to Bank Account.
There are two indirect ways that you can use to transfer your wallet balance into a bank account. One is Gold Trick and the other one is Wallet Deactivation. I feel Gold Trick is the best one. Although you have to pay a 7% charge for this. On the other hand, you can use the wallet deactivate trick too. But you can’t use your PhonePe Wallet after that.
How To Transfer PhonePe Wallet Balance into Bank Account (Gold Trick)
I am assuming that you already have installed PhonePe App on your device because you are reading this article. In case if you don’t have PhonePe App then you can download and install it from the play store.
- Open PhonePe App.
- Tap on My Money >> Gold.
- Buy Gold >> select any option from MMTC-PAMP or Safegold options.
- Now choose Buy Gold >> Enter Amount.
- Proceed to payment >> Pay via PhonePe Wallet.
- After that, you can sell this available gold in your wallet after 24 hours.
- Once your Gold Sell completes, you will receive your money credited into your bank account.
Please remember, in this process, you have to pay a 6-7% transaction charge. For example, if you buy gold of amount RS 100 then you will receive Rs 93 in your bank account instantly after selling.
If you will use this process then you don’t have to pay any extra charge. But your wallet will be deleted forever and you can’t get back your wallet again. I don’t feel it’s a great way to transfer Wallet Balance into the bank account. In case if you added a lot of money to your wallet and you won’t regret it if your wallet will be deleted forever, then this method is for you.
You will get your wallet balance into your bank account instantly after deactivating your PhonePe Wallet.
I hope you like this process. If you have any further question, then please comment below. thanks for being here.
Also Read: Paytm Cash Earning App