UPI Transactions Limit set by PhonePe and BHIM App, HDFC, SBI, PNB, ICICI, and PNB Bank

Unlocking UPI Transactions: Discover App and Bank Limits in India

UPI (Unified Payments Interface) has simplified money transfers and receiving by introducing a user-friendly system. Users can conveniently send or receive money using their unique UPI ID, even when they don’t have cash on hand.

Many individuals now rely on UPI for various payment scenarios, including grocery shopping and settling electricity bills. However, it’s essential to be aware of the limitations imposed on UPI transactions, such as the maximum amount and frequency.

According to the National Payments Corporation of India (NPCI), UPI users can transfer up to Rupee 1 lakh in a single day. This limit ensures security and helps prevent unauthorized or fraudulent transactions.

Popular platforms like PhonePe, BHIM App, as well as renowned banks such as ICICI, HDFC, SBI, PNB, and Bank of Baroda, are actively facilitating UPI transactions. It’s important to note that these platforms may have different maximum transaction limits, ensuring flexibility and catering to varying user needs.

UPI Transactions limit per day PhonePe:

PhonePe sets the daily limit for UPI transactions at Rs 1,00,000. However, it’s important to note that the transaction limit may vary for each bank. Furthermore, depending on the specific guidelines of the bank, users are restricted to initiating either 10 or 20 transactions per day.

UPI Transactions Limit Per day BHIM App:

The BHIM UPI Transaction Limit allows for seamless transfers of up to rupees 1,00,000 per transaction and a maximum of rupees 1,00,000 per day, per bank account linked to the BHIM app. When requesting funds from another individual, the maximum amount allowed is rupees 2,000. Additionally, users are limited to conducting a maximum of 10 transactions per day.

ICICI Bank UPI Limit:

The ICICI Bank UPI Transaction Limit sets a maximum of rupees 1,00,000 for each transaction. Users have the flexibility to perform up to 10 transactions daily. Additionally, the maximum amount that can be requested from another person is set at rupees 2,000.

SBI UPI Transaction Limit:

The SBI Bank UPI Transaction Limit allows for a maximum of Rupees 1,00,000 per transaction. Users have the convenience of conducting up to 20 transactions daily. When requesting funds from another individual, the maximum amount permitted is Rupees 2,000, with a maximum of 5 requests allowed.

HDFC UPI Limit for per day transactions:

The HDFC Bank UPI Transaction Limit sets a maximum cap of rupees 1,00,000 for each transaction. Users are allowed a maximum of 10 transactions per account within a 24-hour period, excluding bills and merchant transactions. When using a UPI collect request, users can request up to rupees 2,000 per transaction.

Bank of Baroda UPI limit:

The Bank of Baroda (BOB) UPI Transaction Limit enables transactions of up to rupees 1,00,000 per day. As a new user, there is an initial transfer limit of rupees 5,000 for 24 hours. However, once the cooling-off period is over, these restrictions are lifted. Users can perform a maximum of 10 transactions in a day.

With Bank of Baroda UPI, users are allowed a maximum of 5 transactions per day. The minimum amount that can be requested is set at rupees 2,000.

PNB UPI limit:

The PNB UPI Transaction Limit allows for transactions up to rupees 1,00,000 per day. Users can conduct a maximum of 10 transactions per day. When it comes to money requests made through the UPI app, the limit is set at rupees 2,000, with a maximum of 5 transfers permitted per day.

PhonePe App, BHIM App, Bank of Baroda Bank, HDFC Bank, SBI Bank, PNB Bank, and ICICI Bank unlimited business transactions?

The UPI Transaction Limit offers a wide range of opportunities for businesses in India. With over 730 crore transactions worth Indian Rupee, 11.91 Lakh crore, completed last month (November 2022), UPI has become the world’s second-largest mobile electronic payment system. NPCI, the developer of UPI, aims to further increase its usage, attracting millions of people to embrace digital payments and presenting a competitive challenge to card companies in the market.

Considering the significant growth and popularity of UPI, it is worth considering offering UPI as a payment option to your customers. By providing UPI as a payment method, businesses can tap into the vast user base and leverage the convenience and security offered by this robust payment system. Incorporating UPI will enable you to cater to the growing demand for digital transactions and ensure a seamless payment experience for your customers.

As the market continues to evolve, embracing UPI can be a strategic move that positions your business at the forefront of digital payment adoption in India. Are you ready to take advantage of the immense potential of UPI and provide your customers with the convenience of this widely used payment method?

In three words –

UPI Payment Gateway

The UPI Payment Gateway empowers businesses to seamlessly accept payments. Integrating with the gateway through web, API, or quick mobile integration is a straightforward process. However, there’s much more to it than meets the eye.

For instance, the Easebuzz UPI payment gateway offers several beneficial features for businesses. These include the ability to check payment collections, initiate refunds, retrieve reports, and view bank settlements.

The system provides comprehensive analytics, allowing businesses to monitor metrics from any device at any time. Real-time reports and usage statistics offer valuable insights into selected metrics of interest.

Key features of the Easebuzz UPI payment gateway include:

• Recurring bill payments for customers
• UPI payment and payout links
• Dynamic QR code for payments
• Virtual UPI addresses for streamlined payment reconciliation
• UPI ID verification to enhance transaction success rates

If you are seeking a solution to streamline your business collection process, simply fill out the form, and our team will assist you in resolving your UPI payment collection challenges.

FAQ’s

1. What is the UPI limit for Sbi?

The UPI limit for SBI is INR 1 lakh daily and INR 5 lakh monthly. This means you can send or receive up to INR 1 lakh using UPI on your SBI account in a single day and up to INR 5 lakh in total in a single month. The limit applies to each UPI ID and both incoming and outgoing transactions. It is not affected by the type of UPI transaction.

2. Why is my UPI limit 2000? 

There are several reasons why your UPI limit may be set at 2000.

• You are a new user. When you first register for UPI, your limit is typically set to 2000. This is a security measure to protect you from fraud.
• Your bank has imposed a lower limit on your account. Some banks have lower limits for UPI transactions than others. You can check with your bank to see if they have a lower limit for your account.
• You have exceeded your daily or monthly limit. Each UPI ID has a daily and monthly limit for UPI transactions. If you have exceeded your limit, you cannot send or receive any more money until the next day or month.
• Your account is flagged for suspicious activity. If your account has been flagged for suspicious activity, your UPI limit may be temporarily reduced to protect your account from fraud.

You can contact your bank for more information if you are unsure why your UPI limit is 2000.

Here are some additional tips to help you increase your UPI limit:

• Use your UPI ID regularly. The more you use your UPI ID, the more likely your bank is to increase your limit.
• Make sure your bank account is in good standing. Your UPI limit may be reduced if your bank account has any overdue payments or other problems.
• Contact your bank and ask them to increase your limit. If you have a good reason to need a higher limit, your bank may be willing to increase it.

According to the National Payments Corporation of India (NPCI), the maximum UPI limit for a single transaction is INR 1 lakh. The daily limit is INR 5 lakh, and the monthly limit is INR 20 lakh. However, individual banks may have lower limits for UPI transactions.

3. How many UPI transactions per day?

The number of UPI daily transactions has steadily increased in recent years. In 2021, there were an average of 3.5 billion UPI daily transactions. This number is expected to reach 5 billion by 2023.

Several factors, including the convenience of the UPI platform, the increasing popularity of digital payments, and the rising penetration of smartphones in India, drive the growth of UPI transactions.

The National Payments Corporation of India (NPCI), which operates the UPI platform, has set a target of 10 billion UPI daily transactions by 2025. If this target is met, UPI will account for more than half of all digital payments in India.

Here are some additional details about UPI transactions:

• The highest number of UPI daily transactions was recorded on 26 January 2022, with 5.44 billion transactions.
• The average value of a UPI transaction is INR 1,500.
• The most popular UPI apps are Google Pay, Paytm, and PhonePe.

UPI is a convenient and secure way to send and receive money. It is also a very popular payment method in India. The number of UPI transactions is expected to grow in the coming years.

4. How to increase the daily transaction limit?

The bank sets the daily transaction limit for UPI. You can increase your daily transaction limit by contacting your bank and requesting an increase.

Here are some tips to increase your chances of getting your daily transaction limit increased:

• Use your UPI ID regularly. The more you use your UPI ID, the more likely your bank is to increase your limit.
• Make sure your bank account is in good standing. Your UPI limit may be reduced if your bank account has any overdue payments or other problems.
• Provide your bank with a valid reason for needing a higher limit. If you can show your bank that you need a higher limit for legitimate grounds, they are more likely to approve your request.

Here are some of the reasons that your bank may consider when deciding whether or not to increase your daily transaction limit:

• Your transaction history. Your bank will look at your transaction history to see how often you use UPI and how much money you typically send or receive.
• Your account balance. Your bank will also examine your account balance to see if you have enough money to support a higher limit.
• Your credit score. Your bank may also consider your credit score when deciding whether or not to increase your limit.

If your bank approves your request, it may take a few days for the increase to take effect.

5. How to set a limit in Phonepe?

To set a limit in PhonePe, follow these steps:

1. Open the PhonePe app.
2. Tap on the Profile icon in the top right corner.
3. Tap on UPI.
4. Tap on Limits.
5. Tap on Set Limits.
6. Enter the amount you want to set as your daily limit.
7. Tap on Set.

You can also set a monthly limit for UPI transactions in PhonePe. To do this, follow the same steps as above, but instead of tapping on Set Limits, tap on Set Monthly Limits.

The daily and monthly limits you set in PhonePe will apply to all UPI transactions you make through the app. This includes sending and receiving money, paying bills and making purchases.

If you need to increase your daily or monthly limit, you can contact PhonePe customer support for assistance.

Here are some additional tips for setting limits in PhonePe:

• You can set different limits for sending and receiving money.
• You can also select other limits for different types of transactions, such as bill payments or merchant payments.
• If you are unsure how much to set as your limit, you can start with a low limit and increase it as needed.
• You can always change your limits at any time.