UPI Daily Limit and Amt
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Hello Folks,
I wanted to understand a few things about UPI:
1. What is the daily limit amount based on UPI?
2. Is there a limit on the UPI-ID or is it based on a person’s bank account?
3. If I have multiple bank account and multiple UPI ID like Phonepe and Gpay etc will I be able to transfer more than 1 lakh in a day?
4. What is the maximum no. of transactions? Is it based on bank/application?
ANY HELP/ REFERENCE IS APPRECIATED.
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For 2nd query you have to choose one out of given two options
1 & 3. Limits are imposed by both the UPI issuer (for individual IPI ID) and the underlying bank (across all UPI ID linked to the account)
2. Max daily limit is 1 Lakh. But lower limits are also imposed by issuer and banks
4. no max limit of txn for merchant transactions. for P2P, limits differ from bank to bank
Thank you Folks
UPI New rules – now you can make only 20 payments of amount less than Rs10 in a 30 day period - https://www.desidime.com/discussions/upi-new-ru...
In my case, I can’t make more than 10 Payments Per Day, be it to merchant or bank account. This is experienced by me in NSDL PAYMENTS Bank, Sbi Bank And EQUITAS Bank. Is anybody else facing the same?
1) Daily upto 1 Lac (2 Lac on Credit card payment, IPO, Mutual funds, Insurance payment etc) limit per bank account.
2) No
3) Yes
4) maximum allowed daily 10 times P2P UPI transfer per day per bank account.
Daily Merchant UPI Transfer/Payment, no limit, you can pay unlimited times (but maybe limit set by bank).