PhonePe is a digital payment service that has its headquarters in Bangalore, India. PhonePe users can send and receive money, pay bills, pay at online retailers, book tickets, and make PhonePe deposits at betting sites for cricket. In this review we shall tell you how to make deposit at the best PhonePe betting sites in India.
FxMart got its operating license on the 26th of August 2014, and then just over a year later PhonePe was incorporated. Then, in April 2016, Flipkart acquired the company and the FxMart license was then transferred to PhonePe and rebranded as an e-Wallet.
In August that same year, they teamed up with Yes Bank to launch their own UPI-based mobile app. Within just three months of their launch, the app had been downloaded by more than 10 million Indians. In 2018, this Indian payment app became the fastest to reach 50 million downloads on the Google Play Store. Nowadays, the company is worth more than $60 million.
The PhonePe app is now available in 11 different Indian languages. The app has been downloaded more than 100 million times and PhonePe payments are accepted at nearly 18 million merchant outlets across India, including the best PhonePe betting sites.
Create an Account to Deposit at the Best PhonePe Betting Sites
In order to start making Phonepe deposits to your betting site account you will first need to register for one. It is very easy to get yourself a PhonePe account. We outline the process below:
- Download the PhonePe app from the Apple App Store or the Google Play Store.
- Once it has downloaded, open it up and verify the mobile number. The mobile number you enter needs to be the same as the one that is linked to your bank account.
- Enter the necessary details such as your name and email and come up with a 4-digit password that you will not have difficulty remembering.
- Click on “Create New Virtual Private Address), choose the bank account you want to link, and the app will automatically get the details for you.
- Confirm that the bank details are correct, and you now have a new account with which to make PhonePe deposits.
Adding a Bank Account to PhonePe
There might come a time when you want to add a bank account to your PhonePe account. Therefore, below we have provided with a step-by-step guide on how to do this so you know what to do should a time come when you would like to add a new bank account.
Just like everything else to do with this payment option, the procedure is a simple one.
- Enter the app and open the menu by clicking on the icon in the top right corner.
- Enter the bank account section – click on the “Add New Bank” option.
- Choose the bank that you would like to link from the available banks list.
- PhonePe will then automatically gather your account details and then link them to your account.
- Now you have to set up the UPI Pin and this can be done by clicking the “UPI Pin” button.
- Input your card details (last 6 digit of your debit card and the expiry date).
- Enter the one-time password and set up your UPI Pin. You have now successfully added your bank account. You can now make transactions using the UPI Pin.
How to Add Money to Your PhonePe Account
Once you have set up a PhonePe account and have added bank accounts to, the next thing that you need to do is deposit money into your e-wallet so that you can then make use of it to make PhonePe deposits to your betting site account.
This is how you add money to your PhonePe account:
- Open up the PhonePe app on your mobile.
- Click on “My Money”.
- Click on the PhonePe Wallet that is in the Wallets section, and enter the amount of money you want to add.
- Select your method of payment from debit card, credit card, or UPI, and click on “Topup Wallet”.
- Complete your transaction by authorizing it with the one-time password.
How to Make Deposits with PhonePe
So, you now have an account and have attached a bank account to it, meaning that the next thing you need to know how to send money and make deposits with PhonePe.
You can find out how to do this below:
- Open the PhonePe app on your mobile device.
- Click on the “Send” option that is on the app’s main screen.
- Enter the payee’s VPA.
- Enter the amount you want to transfer over.
- Choose the bank account that you want to transfer the cash from.
- Verify your details and click the send option.
How to Verify Your PhonePe Account
Before you can use all of the features of your PhonePe account, you need to verify it. This is easily done and the process that is required has been described below for you:
- Open the PhonePe app on your smartphone.
- Log in using your credentials.
- At the bottom of the app homepage, click on the table that is called “My Money”.
- Under the Wallets/Gift Vouchers menu, click on “PhonePe Wallet”.
- Click on “Continue” when the “Complete Your KYC” prompt appears, and then select “Provide Basic Details”.
- A list of documents will appear that you can use to verify your account, and you must choose one. Once you have, provide them with the necessary details.
- Once the verification process has been completed, “Basic Details Updated Successfully” should show on your screen.
What Fees Are PhonePe Deposits Subjected to?
When you are making your mind up about using PhonePe to deposit money at a sports betting site, you need to find out what fees you might be subjected to whenever you go to use the payment option.
You are going to be happy to find out that at the moment theat PhonePe deposits at betting sites have no fees. They are completely free. However, PhonePe reserve their right to chance their fee policies when they wish to do so. Iif they do this, then you will be informed of the changes.
Your bank might charge a fee for making a UPI transfer though, so check with them first to see if any such charges will apply.
What Are the Pros and Cons of Making a PhonePe Deposit at a Betting Site?
|Advantages of depositing with PhonePe at betting sites in India||Disadvantages of depositing with PhonePe at betting sites in India|
|✅ Easy to Use: PhonePe deposits are simple and straight forward to make||❌ Long Payment Period: You may have to wait 24 hours or more before the money can be found in your bookmaker account|
|✅ Transaction record: The app will provide you with a recent history of all your PhonePe deposits||❌ No live chat option: Some people really do not like speaking on the telephone and communication via email can be really slow, so live chat is often the best option. However, it is not available with PhonePe|
|✅ Safe: PhonePe deposits use the latest encryption technology to ensure that your money and personal details are safe from cyber criminals|
Start Depositing with PhonePe for Cricket Betting
If you decide to make deposits with PhonePe as your main payment method for online cricket betting, you will not be disappointed. It is a very quick and easy way to fund your bookmaker account. Another great thing about this payment option is that there are no additional fees that you have to pay when depositing or sending money. Furthermore, security is not an issue as the best PhonePe betting sites in India make use of the best encryption technology.
There are a couple of things that we do not like such as their lack of a live chat for when issues arise and the fact that it can sometimes take more than a day for the money to appear in your account. So, if you are the type of person with little patience, maybe it is best if you choose another payment method.
Frequently Asked Questions about depositing with Phonepe
Are PhonePe Deposits Legal?
PhonePE is trusted payment option across India, so it is certainly legal to use.
What is the Minimum PhonePe Deposit You Can Make at Betting Sites?
The minimum deposit that you can make with PhonePe at any bookmaker is 500 Indian rupees.
Are PhonePe Deposits Safe?
This is one of those questions that you should always ask yourself before you commit to a payment option. PhonePe is extremely safe since they use the best encryption technology.
Are There Fees for PhonePe Deposits?
There are no additional fees that you have to pay when you make use of this banking option.