UPI Update: How many times and how much money can you send through UPI in a day? Know the complete details here..
In today's time, UPI has made money transactions very easy. With just a few taps on your mobile, you can send money or make a payment to anyone instantly. But do you know how many times and how much can be sent daily through UPI?
If you do many transactions daily, then this news is very important for you, because banks also have their own rules.
How much amount and how many times can you transact daily in UPI?
In UPI, a maximum of Rs 1 lakh can be transacted in a day. This limit applies to both Person to Person (P2P) and Person to Merchant (P2M). However, some banks have also imposed a limit on the number of transactions. For example, in SBI, a maximum of 20 P2P transactions can be done in 24 hours from one account. At the same time, there is no limit on the number of P2M transactions.
In these cases, the daily payment limit is more than 1 lakh
If you are paying tax through UPI, applying for IPO, making payment under RBI's Retail Direct Scheme, or making payment to a verified hospital or educational institution, then you can transact up to Rs 5 lakh in 1 day. Apart from this, the daily limit for the capital market, credit card payment, loan repayment, foreign transactions, and insurance is Rs 2 lakh.
UPI limit in SBI and HDFC Bank
HDFC Bank also has a limit of Rs 1 lakh or 20 transactions, whichever is completed first, like SBI. This rule applies to both P2P and P2M. There is a 'cooling-off period' for new users. Android users can send only up to Rs 5,000 in the first 24 hours, while for iPhone users, this limit remains up to 72 hours.
UPI Lite Limit
UPI Lite allows you to transact a maximum of Rs 1,000 at a time. A maximum of Rs 4,000 can be added to the wallet in a day, and a maximum of Rs 5,000 can be kept in the wallet at any time. This facility is for small and everyday payments.
UPI123Pay Limit
UPI123Pay is available for those who use feature phones or do not have internet. Through this, transactions can be done through IVR calls, feature phone apps, missed calls, or sound-based payments. A maximum of Rs 10,000 can be transacted at a time.
If you use UPI daily, it is important to know these limits so that the problem of transaction failure can be avoided and large payments can be made on time.
Disclaimer: This content has been sourced and edited from NDTV India. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.
