How to utilize wallet balance?

KYC user

You can withdraw your wallet balance if you're a KYC user. You can also chose to spend your wallet amount or close your PhonePe Wallet.

To withdraw your money from your PhonePe Wallet:

1. Tap your profile picture on the PhonePe app home screen.
2. Tap PhonePe Wallet under the Payment Methods section.
3. Tap the Withdrawal tab at the top of the screen.
4. Drag the wallet icon down and drop it on your bank icon.

Your wallet balance will be transferred to your primary linked bank account on PhonePe.
Note: Cashback balance cannot be withdrawn to your bank account.

Non-KYC user

You can't withdraw your wallet amount if you're not a KYC user. However, you can spend your wallet amount or submit a request to close your wallet, if your balance is less than ₹5.

To close your PhonePe Wallet,

1. Tap Close Wallet button at the bottom of the screen.
2. Select the reason for closing the wallet.
3. Tap Confirm and Deactivate Wallet.
4. Tap Deactivate Wallet.

When you close your PhonePe Wallet, any wallet balance will be transferred back to the original source of top-up. However, in case the reversal to the original source fails, that amount will be transferred to your primary linked bank account on PhonePe.