UPI an abbreviation for Unified Payments Interface, has gained a lot of popularity since the demonetisation that took place in the year 2016.
It is a mobile application that connects multiple banks together and helps us to transfer money from one bank to another in an instant. It also allows money transfer between peers without any burdensome.
This application was developed by the National Payments Corporation of India.
It eliminates the need to enter your bank details or visit a bank every time you have to make a transaction.
UPI Transactions Limit per Day for the Following Applications:
Exchanging money has now become easy, just by few taps on your digital screen you can send someone money who is sitting in a different corner of the world in just a few minutes.
All the hassles and inconvenience of going to the bank and depositing a cheque and waiting for a few days for the money to be transferred to another account is now left behind and instead, everything can be done in the luxury of your house.
The UPI applications available are 1. ICICI Bank 2. HDFC Bank 3. BHIM UPI 4. Paytm 5. Google Pay.
Getting to the daily transactions limit of all these UPI applications, all of them are separately discussed and their limits are mentioned down below.
1. ICICI Bank
ICICI bank provides for the opportunity of UPI, through the ‘iMobile by ICICI bank’ app. You can install the app from google play store or apple store for free. The transaction limit for ICICI bank per day is 10 and not more than 1 lakh can be transferred.
2. HDFC Bank
Like ICICI Bank, HDFC Bank also has the same limit on their transactions. The amount of money cannot exceed the limit of 1 lakh per day and the maximum number of transactions is ten. Their mobile application can also be easily found on the google play store or apple store.
3. BHIM UPI
BHIM UPI is an Indian mobile payment application launched in the year 2016, with the aim of making India cashless.
It is developed by the National Payments Corporation of India and is easily available on the google play store and the apple store.
Likewise, BHIM UPI also has the same upper limit of rupees 1 lakh as ICICI and HDFC bank per day. For transferring to a bank there is a limit of forty thousand rupees and a limit of twenty thousand rupees in a single transaction.
Paytm is a widely and most commonly used payment app, it was founded in the year 2009 by Vijay Shekhar Sharma.
Similarly, Paytm also has the same upper limit of rupees 1 lakh but the daily transactions cannot exceed twenty. There is also an hourly limit to transactions which is five transactions and up to twenty thousand rupees.
5. Google Pay
Google Pay was formerly known as Google Tez, it was named Google Pay in 2018. It is easily available on the google play store and the apple store.
Like the above mentioned UPIs, Google pay also has a limit of 1 lakh rupees per day and the number of transactions daily cannot be more than ten.
This article was about specifying the transaction limit of the UPI apps and hopefully, it has succeeded in making the readers aware of it.