HomeNewsDaily transaction limit for UPI transactions on mobile payment platforms fixed

Daily transaction limit for UPI transactions on mobile payment platforms fixed

In today’s digital age, online transactions have become increasingly popular as a replacement for cash. One popular method of online payment is through the use of UPI (Unified Payments Interface). However, did you know that your bank may have set a limit on the amount of money you can send or receive through UPI transactions in a day? This is known as the daily UPI transaction limit, and it varies between banks. It’s important to check with your bank to know the limit set for you, so you can plan your transactions accordingly.

In addition to the daily UPI transaction limit, there is also a limit on the amount of money that can be sent or received through UPI in a single transaction. This limit also varies among banks. It is important to check with your bank to know the limit set for you. However, it is worth noting that there are no additional charges for sending or receiving money through UPI payment apps.

Transaction limit

According to the guidelines set by the National Payments Corporation of India (NPCI), the daily limit for UPI transactions is Rs 1 lakh. However, this limit may vary among different banks. For example, Canara Bank has a daily limit of Rs 25,000 while State Bank of India (SBI) has a limit of Rs 1 lakh. Additionally, there is also a limit on the number of UPI transfers that can be made in a day. The daily limit for UPI transfers is set at 20 transactions. After this limit is reached, one must wait for 24 hours to renew the limit. It’s also worth mentioning that UPI apps have different limits as well, so it’s important to check the limit on the app you are using.

Google Pay

Google Pay or Gpay allows Indian users to make UPI payments of up to Rs 1 lakh per day. However, the number of transactions that can be done in a day is limited to 10. This means that you can complete a maximum of 10 transactions, each of up to Rs 10,000 in a day. Google Pay does not impose any hourly transaction limit.

Paytm

Paytm UPI has a daily limit of Rs 1 lakh for money transfer. Additionally, Paytm has a transfer limit of Rs 20,000 per hour. With Paytm UPI, you can make up to 5 transactions per hour and a maximum of 20 transactions per day.

Amazon Pay

Amazon Pay has set a maximum limit of Rs 1 lakh for UPI transactions. However, after registering on Amazon Pay UPI, users will be able to transact only up to Rs 5000 within the first 24 hours. Additionally, the number of transactions that can be made per day will vary depending on the user’s bank, and it is generally fixed at 20.

PhonePe

Like other UPI apps, PhonePe has set a maximum limit of Rs 1 lakh per day for UPI transactions. Users will be able to make a maximum of 10 or 20 transactions per day through the PhonePe app. It is worth noting that PhonePe does not have any hourly transaction limit.

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