Phone pe UPI Transaction limit has been reduced...

Phone pe UPI Transaction limit has been reduced to 1000₹ for almost all banks

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21 Comments  |  
7 Dimers
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Shopping Friend
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Phonepe or any other upi payment app doesn’t imposes any limit.
These limits are imposed by either bank or NPCI.
It’s max 10 transaction or 1lac within 24 hours for most of people.

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Different bank, different limit per transaction…..

SBI limit is 1L, ICICI limit is 10k, hdfc 30K, kotak 30k

And your Andhra Bank 1k 😂

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Deal Subedar
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midfold wrote:

Different bank, different limit per transaction…..

SBI limit is 1L, ICICI limit is 10k, hdfc 30K, kotak 30k

And your Andhra Bank 1k 😂

joy joy joy
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why are such limits there ?

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B3A5T wrote:
joy joy joy

Nope, I have SBI account it is also showing the same

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pentiumd wrote:

why are such limits there ?

May be restricted by bank or Phone pe

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Ash-D wrote:

Phonepe or any other upi payment app doesn’t imposes any limit.
These limits are imposed by either bank or NPCI.
It’s max 10 transaction or 1lac within 24 hours for most of people.

Not correct,BHIM app initially started with 10 or 20k limit & even now it is 40k. It is UPI standard which has 1 lakh limit but banks & apps are free to choose their own upi limits.

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guest_999 wrote:

Not correct,BHIM app initially started with 10 or 20k limit & even now it is 40k. It is UPI standard which has 1 lakh limit but banks & apps are free to choose their own upi limits.

Yes 1lakh is standard limit or upper limit.
While banks are free to decide their own limits below that value.
But how a third party app can decide the transaction limit when they all are based on bhim upi??

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Guys now everything working fine

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Ash-D wrote:

Yes 1lakh is standard limit or upper limit.
While banks are free to decide their own limits below that value.
But how a third party app can decide the transaction limit when they all are based on bhim upi??

If BHIM,the official NPCI app itself,can implement limit then other upi apps too should be able to do it. NPCI only checks for the main 1 lakh limit,also 3rd party apps like phonepe don’t directly access NPCI system but rather it is their collaborating bank(Yes bank in case of phonepe) which handles it.

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guest_999 wrote:

If BHIM,the official NPCI app itself,can implement limit then other upi apps too should be able to do it. NPCI only checks for the main 1 lakh limit,also 3rd party apps like phonepe don’t directly access NPCI system but rather it is their collaborating bank(Yes bank in case of phonepe) which handles it.

Can you please provide any source to this information.
Because I tried to find but unable to get anything like that.
Been through phonepe app faq.
https://ibb.co/1...ZS

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use GooglePay, full 1 lac limit available & 2 lac limit for IPO

or use bank official UPI apps

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abhishek012 wrote:

use GoolglePay, full 1 lac limit available & 2 lac limit for IPO

or use bank official UPI apps

Ok, but now everything is fine with phone pe

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Ash-D wrote:

Can you please provide any source to this information.
Because I tried to find but unable to get anything like that.
Been through phonepe app faq.
https://ibb.co/1...ZS

https://www.npci.org.in/sites/default/files/UPI...

Page 129 column Limits states “Payer, Payee,remitter must check limits. NPCI has central level checks for the main limits.” which I am assuming means that apps/banks can set their own limits while NPCI just check the max/main limit.

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vamshi1050 wrote:

Ok, but now everything is fine with phone pe

May be they were testing some new system in light of increasing upi frauds to see whether implementing such limits is technically possible within current app framework.

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guest_999 wrote:

May be they were testing some new system in light of increasing upi frauds.

But how does limiting 1000₹ per transaction reduce frauds, first users will get irritated and frustrated for that

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vamshi1050 wrote:

But how does limiting 1000₹ per transaction reduce frauds, first users will get irritated and frustrated for that

May be they are reducing only for peer-to-peer transfer & not commercial/merchant upi transactions. It is possible that they may introduce the concept of beneficiary addition(may be take those from your contacts list in phone) just like in net banking so any added beneficiary will have full upi transfer limits while someone new(as it happens in fraud cases) will have reduced upi transfer limits.

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guest_999 wrote:

May be they are reducing only for peer-to-peer transfer & not commercial/merchant upi transactions. It is possible that they may introduce the concept of beneficiary addition(may be take those from your contacts list in phone) just like in net banking so any added beneficiary will have full upi transfer limits while someone new(as it happens in fraud cases) will have reduced upi transfer limits.

Hmm may be

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Shopping Friend
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guest_999 wrote:

https://www.npci.org.in/sites/default/files/UPI...

Page 129 column Limits states “Payer, Payee,remitter must check limits. NPCI has central level checks for the main limits.” which I am assuming means that apps/banks can set their own limits while NPCI just check the max/main limit.

Thanks brother for the document.
Been through it (not full)
Actually the point you mentioned is referring to upi limit checks. It’s mentioning the roles of psp and saying that psp payer, payee & remmiter should check the limit and npci will check at Central level. Not about their role in creating limits. They should check limits everytime the transaction is done.
On page no. 82 – row ‘N’ only they have mentioned about the transaction limit else couldn’t see more about it.

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Ash-D wrote:

Thanks brother for the document.
Been through it (not full)
Actually the point you mentioned is referring to upi limit checks. It’s mentioning the roles of psp and saying that psp payer, payee & remmiter should check the limit and npci will check at Central level. Not about their role in creating limits. They should check limits everytime the transaction is done.
On page no. 82 – row ‘N’ only they have mentioned about the transaction limit else couldn’t see more about it.

Yeah but based on the fact that 3rd party upi apps rely on collaborating banks for their upi transactions it is my guess that this falls under the clause “banks are free to choose their own limits”. In fact some pvt banks like ICICI have now started limiting upi transactions done through non-offficial/3rd party apps/non-icici upi handles.

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guest_999 wrote:

Yeah but based on the fact that 3rd party upi apps rely on collaborating banks for their upi transactions it is my guess that this falls under the clause “banks are free to choose their own limits”. In fact some pvt banks like ICICI have now started limiting upi transactions done through non-offficial/3rd party apps/non-icici upi handles.

But then again it’s payee bank(icici) who’s deciding the limit.
Anyways it might be possible as much of such information is not out.

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