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How to transfer PhonePe cashback into Bank

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Deal Subedar
Phone pe has many offers running. And you must have Earned alot of cashback money. But sad part here is, that you cannot Transfer Cashback Money Into Bank.

If you have not Downloaded/Registered With PhonePe, then download phonePe From This link:

Register, then Register your bank with PhonePe UPI, and send money to anyone.
You will get cashback Upto Rs1000

Trick To Transfer PhonePe Cashback to Bank

Check whether you have recieved cashback. Cashback is Received On the spot in Phone pe
Scroll Down, you will see A option ‘Gold’
Go there and Buy Gold worth Cashback and pay via The wallet which has cashback
Done! Now wait for 24 hours and then transfer To your bank account
You need to link your bank account with PhonePe to transfer the Amount
Please Note: You need to bear some loss of 5-10Rs or more for Transfering the cashback as The Selling rate of Gold is less Then Buying Rate

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Deal Subedar Deal Subedar
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Simple h

Deal Lieutenant Deal Lieutenant
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Im speechless!

Analyst Analyst
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Depends on what is the exact difference between buy and sell rate, and how stable it is. If it is stable and difference is 5%, then it may make sense for some ppl if they have large balance and no opportunities to spend at merchants (incl amazon, fk, etc)!!

However, if there is significant risk of price variation of gold itself or the difference between buy-sell rates, and the loss involved is close to 10%, then it may not make great sense to most ppl:)

But yes, since gold buying is being provided as an option by Phonepe, and digital gold means less of txn costs, its still a good to have option!! smile

Community Angel Community Angel
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losing money in gold buy sell variation is most ! But still better to have some digital gold with Phonepe Balance ! sunglasses

Deal Newbie Deal Newbie
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One more trick .. buy Amazon gv in komparify pay via phonepe wallet Sell it at discount to who needs it yum But u have bear some loss of discount that u are giving
Deal Cadet Deal Cadet
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Still working in dec 2020?

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