As per existing RBI guidelines for wallet, as a minimum KYC user, you cannot withdraw your wallet balance to your bank account. Instead, you can use your wallet balance for making payments from the PhonePe app.

If you still wish to withdraw your wallet balance:

• You need to complete your Full KYC
• You have the option to close your wallet and withdraw the balance

Important: You cannot reactivate your Wallet once you close it. This will be a one-time withdrawal only. 

Yes, you can withdraw PhonePe Wallet balance to any of your linked bank accounts.

Note: Currently the option to complete Full KYC is only available for selected users.