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UPI limit per day: Popular UPI payment options, how to setup UPI and daily transfer limit set by SBI, HDFC, and other banks

We have come a long way since encashing a cheque in the bank, counting the money handed over by the teller, and then using that money to pay the merchant outlet. Moreover, in this age and time carrying a bundle of currency in your pocket or bag is both unwieldy and risky. 

With the introduction of virtual money transfers, any form of money transaction is now fast and trouble-free. However, till 2016, there were different systems to transfer money between banks. These included the RTGS, IMPS and NEFT systems. Each was meant to serve a specific purpose. The Unified Payments Interface (UPI) was developed to simplify and provide a single interface. Soon, banks started to upload their UPI-enabled apps to the Google Play store. And you could now avail of a single app platform for transferring money virtually.

UPI is compatible with both Android and iOS, especially for Android 4.2.2 and iOS 8.1 and above.

However, as in any money transaction, there are certain rules and regulations to be followed. Let us go through some of these guidelines.

What is UPI, popular UPI payment options

upi

UPI is a user-friendly, real-time solution for inter-bank transactions, and other digital transactions like payments while shopping. This technology allows almost instantaneous money transfers from person-to-person (P2P) or person-to-merchant (P2M) bank accounts. The platform was developed and launched by the National Payments Corporation of India (NPCI) in 2016. Since then, UPI has become very popular among people in the country with over one billion transactions every month.

Its usefulness stems from the fact that UPI adds multiple bank accounts into one application. It allows you to transact with banks, outlets, persons, or companies in a simple, efficient manner.

Payments can be made using a UPI ID, UPI Number, Account number, and also with IFSC (Indian Financial System) Code. Your transaction is secure since it follows Reserve Bank of India (RBI) guidelines in this aspect. The process uses a one-click, two-factor authentication using your UPI Personal Identification Number (PIN).

With a UPI app you can make the following financial transactions:

  • Pay Request: Where you can send money using the mobile number and Mobile Money Identifier (MMID). The latter is a seven-digit unique code assigned to a bank account. You can also transfer funds using the account number with the IFSC code, and Virtual ID.
  • Collect Request: Under this service you can receive money from your source or remitter, using a Virtual ID.

UPI can also be used for non-financial transactions on any Payment Service Provider (PSP) app

  • Registration for mobile banking where the number is already registered with the concerned bank for SMS or other forms of cell phone alerts.
  • For generating a One Time Password (OTP) 
  • To set or re-set your PIN
  • To check or follow up on your payments 
  • To ask any question or to raise disputes

There are several uses in business too for UPI, including making a payment at a convenient time and so on, subject to certain specifications.

How to setup UPI

Setting up your own UPI account is as simple as downloading an app and registering your account.

upi

  • Download the app from Google Play or App Store or your bank’s website
  • Open the app to create your profile, enter your name, virtual ID (payment address), password, etc.
  • Tap on “Add/Link/Manage Bank Account” 
  • Links your bank and your account number with the virtual ID

You are ready to make your financial transaction.

UPI limit per day of different banks

There is a limit on the amount of money you can send to someone. This amount depends on the limit set by the concerned bank. Given below are the transaction amount for each bank

Bank name Bank type Sponsor bank UPI transaction limit UPI daily limit
Abhyudaya Co-Operative Bank Cooperative NA 25000 25000
Adarsh Co-Op Bank Ltd Cooperative HDFC Bank 50000 50000
Aditya Birla Idea Payments Bank Payments Bank NA 100000 100000
Airtel Payments Bank Payments Bank NA 1,00,000 1,00,000
Allahabad Bank Public Sector Bank NA 25000 100000
Allahabad UP Gramin Bank RRB Allahabad 20000 40000
Andhra Bank Public Sector Bank NA 100000 100000
Andhra Pradesh Grameena Vikas Bank RRB SBI 25000 100000
Andhra Pragathi Grameena Bank RRB NA 10000 20000
Apna Sahakari Bank Cooperative NA 100000 100000
Assam Gramin VIkash Bank RRB United Bank of India 5000 25000
Axis Bank Private NA 100000 100000
Bandhan Bank Private NA 100000 100000
Bank Of Baroda Public Sector Bank NA 25000 Not set
Bank of India Public Sector Bank NA 10000 100000
Bank of Maharashtra Public Sector Bank NA 100000 100000
Baroda Gujarat Gramin Bank RRB Bank of Baroda 25000 Not set
Baroda Rajasthan Kshetriya Gramin Bank RRB BOB 25000 25000
Baroda Uttar Pradesh Gramin Bank RRB Bank of Baroda 25000 25000
Bassein Catholic Co-Op Bank Cooperative NA 20000 40000
Bhilwara Urban Cooperative Bank LTD Cooperative HDFC 25000 25000
Bihar Gramin Bank RRB UCO Mergerd with DBGB
Canara Bank Public Sector Bank NA 10000 25000
Catholic Syrian Bank Private NA 100000 100000
Central Bank of India Public Sector Bank NA 25000 50000
Chaitanya Godavari Grameena Bank RRB Andhra Bank 25000 100000
Chhattisgarh Rajya Gramin Bank RRB SBI 25000 100000
Citibank Retail Foreign Bank NA 100000 100000
City Union Bank Private NA 100000 100000
COASTAL LOCAL AREA BANK LTD Cooperative BOM 50000 1,00,000
Corporation Bank Public Sector Bank NA 50000 100000
DBS Digi Bank Foreign Bank NA 100000 100000
DCB Bank Private NA 5000 5000
Dena Bank Public Sector Bank NA 100000 100000
Dena Gujarat Gramin Bank RRB Dena NA (Merged)
Deutsche Bank AG (Web Collect) Foreign Bank NA NA
Dhanlaxmi Bank Ltd Private NA 100000 100000
Dombivali Nagrik Sahakari Bank Cooperative NA 100000 100000
Equitas Small Finance Bank Small Finance Bank NA 25000 100000
ESAF Small Finance Bank Small Finance Bank NA 100000 100000
Federal Bank Private NA 100000 100000
FINO Payments Bank Payments Bank NA 100000 100000
G P Parsik Bank Cooperative NA 100000 100000
HDFC Private NA 100000
(RS 5000 for new customers)
100000
Himachal Pradesh Gramin Bank RRB PNB 50,000 50,000
HSBC Foreign Bank NA 100000 100000
Hutatma Sahakari Bank Ltd Cooperative ICIC Bank 100000 No limit
ICICI Bank Private NA 10000
(25000 for Google Pay users)
10000
(25000 for Google Pay users)
IDBI Bank Public Sector Bank NA 25000 50000
IDFC Private NA 100000 100000
India Post Payment Bank Payments Bank NA 25000 50000
Indian Bank Public Sector Bank NA 100000 100000
Indian Overseas Bank Public Sector Bank NA 10000 20000
IndusInd Bank Private NA 100000 100000
J&K Grameen Bank RRB J&K 20,000 20,000
Jalgaona Janata Sahkari Bank Cooperative NA 100000 100000
Jammu & Kashmir Bank Private NA 20000 20000
Jana Small Finance Bank Small Finance Bank NA 10000 40000
Janta Sahakari Bank Pune Cooperative NA 100000 100000
Jio Payments Bank Payments Bank NA 100000 100000
Kallappanna Awade Ichalkaranji Janata Sahakari Bank Ltd Cooperative NA 25000 200000
Karnataka Bank Private NA 100000 200000
Karnataka Vikas Grameena Bank RRB NA 25000 25000
Karur Vysaya Bank Private NA 100000 100000
Kashi Gomti Samyut Gramin Bank RRB NA 100000 100000
Kaveri Grameena Bank RRB SBI 25000 25000
Kerala Gramin Bank RRB NA 20000 20000
Kotak Mahindra Bank Private NA 100000 100000
Langpi Dehangi Rural Bank RRB SBI 10000 100000
Madhya Bihar Gramin Bank RRB PNB 25000 100000
Maharashtra Grameen Bank RRB BOM 25000 100000
Maharashtra State Co-Op Bank Cooperative NA 5000 50000
Malwa Gramin Bank (Bank merged with Punjab Gramin Bank) RRB SBI 10000 25000
Manipur Rural Bank RRB SBI 10000 10000
Maratha Co-Op Bank Cooperative NA 100000 100000
Meghalaya Rural Bank Foreign Bank SBI 100000 100000
Mizoram Rural Bank RRB SBI 25000 100000
NKGSB Co-Op. Bank Ltd Cooperative NA 20000 40000
Oriental Bank of Commerce Public Sector Bank NA 100000 100000
Paschim Banga Gramin Bank RRB UCO 5000 25000
Paytm Payments Bank Payments Bank NA 100000 100000
Pragathi Krishna Gramin Bank RRB NA 20000 20000
Prathama Bank RRB NA 10000 50000
Punjab and Maharastra Co-Op Bank Cooperative NA 100000 100000
Punjab and Sind Bank Public Sector Bank NA 10000 10000
Punjab Gramin Bank RRB PNB 10000 25000
Punjab National Bank Public Sector Bank NA 25000 50000
Purvanchal Bank RRB SBI 25000 100000
Rajasthan Marudhara Gramin Bank RRB SBI 25000 25000
Rajkot Nagari Sahakari Bank Ltd Cooperative NA 100000 100000
Samruddhi Co-Op Bank Ltd Cooperative TJSB 100000 100000
Sarva Haryana Gramin Bank RRB PNB 50,000 1,00,000
Sarva UP Gramin Bank RRB PNB 50000 100000
Saurashtra Gramin Bank RRB SBI 20000 100000
Shree Kadi Nagarik Sahakari Bank Ltd Cooperative Yes Bank 100000 100000
South Indian Bank Private NA 100000 100000
Standard Chartered Foreign Bank NA 100000 100000
State Bank of India Public Sector Bank NA 100000 100000
Suco Souharda Sahakari Bank Cooperative ICICI Bank 100000 100000
Suryoday Small Finance Bank Ltd Small Finance Bank NA 100000 100000
Suvarnayug Sahakari Bank Ltd Cooperative HDFC 100000 100000
Syndicate Bank Public Sector Bank NA 10000 100000
Tamilnadu Mercantile Bank Private NA 20000 100000
Telangana Gramin Bank RRB SBI 25000 100000
Telangana State Co-Operative Apex Bank Cooperative IDBI 10000 1,00,000
Thane Bharat Sahakari Bank Cooperative NA 100000 100000
The Cosmos Co-Operative Bank LTD Cooperative NA 10000 50000
The A.P. Mahesh Co-Operative Urban Bank Cooperative NA 25000 25000
The Ahmedabad District Co-Operative Bank Ltd Cooperative GSCB 10000 25000
The Ahmedabad Mercantile Co-Op Bank Ltd Cooperative HDFC Bank 100000 100000
The Andhra Pradesh State Co-Operative Cooperative NA 10000 100000
The Baroda Central Co-Operative Bank Ltd Cooperative GSCB 15000 100000
The Gujarat State Co-Operative Bank Limited Cooperative NA 50000 100000
The Hasti Co-operative Bank Ltd Cooperative NA 100000 100000
The Kalyan Janta Sahkari Bank Cooperative NA 100000 100000
The Lakshmi Vilas Bank Limited Private NA 100000 100000
The Mahanagar Co-Op. Bank Ltd Cooperative NA 25000 50000
The Malad Sahakari Bank Ltd Cooperative PMCO 10000 50000
The Mehsana Urban Co-Operative Bank Cooperative NA 100000 100000
The Municipal Co-Op Bank Ltd Cooperative NA 5000 50000
The Muslim Co-Operative Bank Ltd Cooperative HDFC 100000 100000
The Nainital Bank Ltd Private NA 20000 40000
The Ratnakar Bank Limited Private NA 25000 25000
The Saraswat Co-Operative Bank Cooperative NA 100000 100000
The Surat People’s Co-Op. Bank Ltd Cooperative NA 25000 100000
The Sutex Co-Op Bank Cooperative ICIC Bank 100000 100000
The SVC Co-Operative Bank Ltd Cooperative NA 10000 20000
The Thane Janta Sahakari Bank Ltd (TJSB) Cooperative NA 100000 100000
The Udaipur Mahila Samridhi Urban Co-Op Bank Ltd Cooperative ICIC Bank 100000 100000
The Udaipur Mahila Urban Co-Op Bank Ltd Cooperative NA 100000 100000
The Urban Cooperative Bank Ltd Dharangaon Cooperative ICICI Bank 20000 25000
The Varachha Co-Op Bank Ltd Cooperative NA 20000 40000
The Vijay Cooperative Bank Ltd Cooperative ICIC Bank 20000 200000
The Vishweshwar Sahakari Bank Ltd Cooperative NA 100000 100000
Tripura Gramin Bank RRB SBI 10000 10000
UCO Bank Public Sector Bank NA 100000 100000
Ujjivan Small Finance Bank Limited Small Finance Bank NA 50000 100000
Union Bank of India Public Sector Bank NA 100000 200000
United Bank of India Public Sector Bank NA 25000 60000
Uttarakhand Gramin Bank RRB SBI 25000 100000
Vananchal Gramin Bank RRB SBI 20000 20000
Vasai Vikas Co-Op Bank Ltd Cooperative NA 100000 100000
Vijaya Bank Public Sector Bank NA 25000 50000
YES Bank Private NA 100000 100000

UPI vs Mobile Banking

With smartphones becoming ubiquitous, mobile banking had gained popularity. Started in 2002, mobile banking enabled users to use short messaging system or SMS could keep inquiring about their account balance and make transactions without the physical exchange of currency notes. It was perhaps the first step into remote banking using a cellular phone.

However, mobile banking had its own share of limitations like the amount that could be transferred, and the time taken for such transactions. You needed to pay a certain amount as bank charges and the process was vulnerable to mischievous elements like fraudsters. With the evolution of smartphones and the technological advancement in telephony and the internet, the process became faster and more seamless. Using operating systems like Android and iOS, you can now download mobile banking applications like UPI on your mobile phone and perform financial transactions online from wherever you are. UPI may perhaps be called the new mobile banking.

Also read: How to find, change or create UPI ID on Google Pay

FAQs

1. Difference between UPI and UPI Lite

Based on the trend among UPI users, it was estimated that a large percentage of digital payments will be low-value transactions. Most of such exchanges were below Rs. 200. For such users UPI Lite is a customer-friendly, pre-approved payment solution using the existing protocols. This helps reduce the traffic loads on core banking systems in real time. Going by the current guidelines, you can maintain a “stored value” balance limit of Rs. 2,000 from where you can make payments below Rs. 200 anytime, anywhere, and even for offline transactions. You can replenish the amount as you keep spending.

2. What is the format of UPI ID?

You use the app after creating a UPI ID for making a payment. The generic format of the UPI ID is either name@BankName or mobile@BankName.

3. Can I send money abroad using UPI?

National Payments Corporation of India (NPCI), which developed and launched UPI, has established partnerships with Discover Financial Services (DFS) in the USA, Japan Credit Bureau (JCB) in Japan, Union Pay International (UPI) in China, Royal Monetary Authority (RMA) of Bhutan and Network for Electronic Transfers (NETS), Singapore. Two years ago, NPCI International Payments Limited (NIPL) was set up as a wholly owned subsidiary of NPCI to take its product to the global market.

If you are visiting Europe, you can now use UPI to make payments due to cooperation between NIPL and European payment services facilitator Worldline. The facility is already available in Bhutan, the UAE, and the UK, where you do not need cash, a forex card, or a credit card to pay at the merchant outlet. The UPI app will take care of your payments.

By the end of this year, Malaysia, Singapore, Indonesia, Thailand, and the Philippines are also expected to sign a contract to combine their respective QR code payment systems. This will pave the way for merchant payments via QR codes throughout the region.

However, you cannot transfer money abroad through this option.

4. Does my UPI id get blocked after it reaches its limit

There is a maximum limit of UPI transactions set by the concerned agency in terms of amount (see above) as well as a number of transactions per bank account within 24 hours.

In case you have exceeded either limit then it is advised to retry the next day (after 24 hours) or try making a payment using a different bank account.

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