is doing upi transaction from savings account i...

is doing upi transaction from savings account illegal?

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Deal Cadet
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i, today, got a call recording in which customer care was talking with a customer saying that doing UBI transaction, it increases transactions limit even if you do small amount of transaction it will be counted for doing safe transaction we need to have current account. is this true?

19 Comments  |  
15 Dimers
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Deal Cadet
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If you are doing more than certain number of transactions a day…
Limits differ for each bank
However u dont need to worry, they just trying to convert u, Usually bank dont take any action apart from warning

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Deal Subedar
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karanoshan wrote:

If you are doing more than certain number of transactions a day…
Limits differ for each bank
However u dont need to worry, they just trying to convert u, Usually bank dont take any action apart from warning

they flag account as “high risk”

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Critic
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LMAO what? They are saying it increases limit if you do UPI transaction? And more importantly you need to have current a/c to do that?

I am literally laughing my arse off.

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Deal Subedar
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If you do 10 recharge of 10rs via upi and your savings accounts it automatically alerts the RBI headquarters and you are added to “high risk” thug life customer list.

They monitor your actions closely for some time and seek assistance from investigating agencies.
If you cross some limits they will charge you and pick you up under UBI act.

Exercise caution.

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Deal Subedar
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Savings account are not for High transactions !! They called you because you are very unique high transaction user in your city, Also they ask you for current account because current account are for business man and they can do high transaction without any problem !!

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zafar_khan wrote:

If you do 10 recharge of 10rs via upi and your savings accounts it automatically alerts the RBI headquarters and you are added to “high risk” thug life customer list.

They monitor your actions closely for some time and seek assistance from investigating agencies.
If you cross some limits they will charge you and pick you up under UBI act.

Exercise caution.

So is this dangerous?

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YashveerArya wrote:

Savings account are not for High transactions !! They called you because you are very unique high transaction user in your city, Also they ask you for current account because current account are for business man and they can do high transaction without any problem !!

So what should one do in that case to loot the offer of upi?

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Community Angel
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looter143 wrote:

So what should one do in that case to loot the offer of upi?

Open a current account, simple sunglasses
BTW the offers on upi arent a loot (AFAIK)
50 cashback on doing 10 transactions of 5000 cant be called a loot stuck_out_tongue

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Deal Cadet
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zafar_khan wrote:

If you do 10 recharge of 10rs via upi and your savings accounts it automatically alerts the RBI headquarters and you are added to “high risk” thug life customer list.

They monitor your actions closely for some time and seek assistance from investigating agencies.
If you cross some limits they will charge you and pick you up under UBI act.

Exercise caution.

Man do you have any proof to support your claim?? As far as I know bank has implemented certain number of transaction restrictions on UPI. It’s same for debit card and net banking too, limit is applied here too.
Note: op is asking for suggestion/support. So please don’t take it as a joke because from op reply he is taking is seriously?

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Deal Captain
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if UPI is something illegal, then why the hell it was launched?

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Cody wrote:

if UPI is something illegal, then why the hell it was launched?

Aadhaar has been illegal too.. #fyi

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Tech Guru
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Cody wrote:

if UPI is something illegal, then why the hell it was launched?

To show the flag of BJP on every app till 2019 smile

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Tech Guru
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Once I received a call from stupid HDFC branch manager ,he told me you have done transactions worth RS.25 lakh in your account , ITR Bhara ki nahi , aap branch aaiye is tarah KE Transaction ke liye alag type ka account hota
, Maine kaha tu kaun hota hai incom tax ki baat puchhne Wala , Main branch Branch nahin aney wala
,Abhi 25 lakh ka Transaction Kiya hai
ab Hoon main 25 crore ke Transaction karne Wala
Tujhe Kya Matlab
He told ki Maine income tax ko reporting kar di hai
Maine kaha karde aur mere Account ka statement news paper mein chhapwa dey
Usne kaha ki Kaise baat kar rahe ho Maine
KHa jahilo see aise hi bat ki jaati hai
….
Tab see how wo mere naam see hee door bhagta hai call karna to door ki baat

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Tech Guru
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Please upload call recording here ,
Konsa bank mein Account hai?

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Critic
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all savings accounts have fixed limits for the maximum number of free transactions in a financial year. the limit differs from bank to bank and the exact type of savings account. beyond the free number of transactions, charges a re levied for each extra transaction. for details, refer the small prints of the “detailed T&C/fees and charges” of your account.

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Deal Cadet
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panchabhut wrote:

all savings accounts have fixed limits for the maximum number of free transactions in a financial year. the limit differs from bank to bank and the exact type of savings account. beyond the free number of transactions, charges a re levied for each extra transaction. for details, refer the small prints of the “detailed T&C/fees and charges” of your account.

yeah but bank cant force anyone to open current account. Maybe few bank can ask you to do so to get targeted quota.

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Entertainer
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drupal wrote:

Once I received a call from stupid HDFC branch manager ,he told me you have done transactions worth RS.25 lakh in your account , ITR Bhara ki nahi , aap branch aaiye is tarah KE Transaction ke liye alag type ka account hota
, Maine kaha tu kaun hota hai incom tax ki baat puchhne Wala , Main branch Branch nahin aney wala
,Abhi 25 lakh ka Transaction Kiya hai
ab Hoon main 25 crore ke Transaction karne Wala
Tujhe Kya Matlab
He told ki Maine income tax ko reporting kar di hai
Maine kaha karde aur mere Account ka statement news paper mein chhapwa dey
Usne kaha ki Kaise baat kar rahe ho Maine
KHa jahilo see aise hi bat ki jaati hai
….
Tab see how wo mere naam see hee door bhagta hai call karna to door ki baat

Perfect comment does not exi…..😂😂

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Deal Subedar
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zafar_khan wrote:

If you do 10 recharge of 10rs via upi and your savings accounts it automatically alerts the RBI headquarters and you are added to “high risk” thug life customer list.

They monitor your actions closely for some time and seek assistance from investigating agencies.
If you cross some limits they will charge you and pick you up under UBI act.

Exercise caution.

Is it applicable for upi trxns only or to debit cards also?? I use my debit card for multiple payments in CRED app like about 1000×20 per month. Will that be counted as high risk?

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Deal Cadet
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drupal wrote:

Once I received a call from stupid HDFC branch manager ,he told me you have done transactions worth RS.25 lakh in your account , ITR Bhara ki nahi , aap branch aaiye is tarah KE Transaction ke liye alag type ka account hota
, Maine kaha tu kaun hota hai incom tax ki baat puchhne Wala , Main branch Branch nahin aney wala
,Abhi 25 lakh ka Transaction Kiya hai
ab Hoon main 25 crore ke Transaction karne Wala
Tujhe Kya Matlab
He told ki Maine income tax ko reporting kar di hai
Maine kaha karde aur mere Account ka statement news paper mein chhapwa dey
Usne kaha ki Kaise baat kar rahe ho Maine
KHa jahilo see aise hi bat ki jaati hai
….
Tab see how wo mere naam see hee door bhagta hai call karna to door ki baat

Apka name kya hai?

Missing