Digital transactions have increased a lot after the introduction of UPI i.e. Unified Payment Interface. In today’s era, everyone can easily transfer money from one place to another through UPI. But even with UPI, you can transfer money only up to a limit in a day. Let us know the limit of UPI transaction.
UPI Transaction Limit: Digital transactions have increased a lot after the introduction of UPI i.e. Unified Payment Interface. In today’s era, everyone can easily transfer money from one place to another through UPI. Many times people also do multiple transfers in a single day. However, very few people will know that there is a limit for sending money through UPI. You can transfer money only up to a limit in a day. Let us know how much is the limit of UPI transaction in a day.
Know how much is the limit of 24 hours?
According to the National Payments Corporation of India (NPCI), you cannot transfer more than Rs 1 lakh in a day (24 hours) through UPI. People transfer money from UPI through apps like Google Pay, Phone Pay, Amazon Pay, Paytm. NPCI says that this limit has been fixed keeping in view the fraud and risk associated with UPI.
Only 10 transactions from one account in 24 hours:
According to NPCI, UPI users can send money only 10 times from one account in a 24-hour time frame. The maximum limit of this transaction should not exceed Rs 1 lakh. However, this limit is for person-to-person transactions. Even if you transact with the help of UPI using more than one app, you will be able to do only 10 transactions in a day. Whether you are using Phonepe, Google Pay, BHIM, Paytm or any other app.
The daily transaction limit increases in this condition:
If a person has more than one bank account, then his daily transaction limit increases. For example, if you have 4 bank accounts, then you can transfer money from each bank account 40 times in a day according to 10 transactions. It doesn’t matter if all the bank accounts are linked to the same mobile number.
No limit on transfer of money to your own account:
If you transfer money from one account to another account of your own, then this transaction will not count towards your limit. Apart from this, transacting with a merchant through UPI will also not count towards the limit. However, if the merchant is not registered with UPI to accept payments through Virtual Payment Address or QI Code, then the transaction done with him will count towards the limit.
Different banks limit:
SBI allows transactions up to Rs 1 lakh through UPI. Whereas, in Canara Bank this limit is only 25 thousand rupees. Punjab National Bank’s daily UPI transaction limit is Rs 50,000. Whereas, the daily limit for UPI transactions in HDFC Bank and Bank of India is Rs 1 lakh each.
What to do when money is stuck
Many times the money is deducted from the account while making UPI payment, but does not reach the account of the person being sent. In this case, you should wait for 48 hours. Many times the money does not reach the account of the concerned due to the slowness of the banking server. If your transaction fails while sending money, then the bank refunds your money back to your account within 1 hour.
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