Maximum Limit on UPI Transactions: Thanks to innovations in the world of technology, you no longer have to worry about carrying cash when out and about. Nowadays, you can transfer money instantly regardless of your current location. One notable way to go about this is by using the Unified Payments Interface (UPI). This digital payment system developed by the NPCI ensures you transfer funds between two banks through a mobile platform instantly.
To make the transfer hassle-free, you need to have a unique VPA (Virtual Private Address). Since the UPI is linked to your registered mobile number with the bank together with the UPI pin, you can rest knowing the payments are more secure and reliable. But what is the UPI transaction limit per day?
UPI Money Transactions in a Day
Well, you are allowed to transfer a total of 1 lakh per day. Furthermore, you can perform 10 transactions in a day although the total amount should not exceed 1 lakh. Even though each UPI transaction has a cap of Rs 1 lakh, the upper limit tends to vary from bank to bank. That’s why you must check with your bank to determine your UPI transaction limit.
When relying on SBI, HDFC Bank, or ICICI Bank, you’ll have to make do with a limit of 1 lakh per transaction. Things tend to be different with Kotak Mahindra Bank, Central Bank, and IDFC First Bank since account holders are allowed a limit of ₹ 25,000 per transaction. Keep in mind the limit is set as per your account type.
Under the NPCI limit, banks are allowed to set their own limits. This action is aimed at making sure they give their customers the protection they badly desire. No wonder some banks have exercised their authority and put a lower cap on their customers. Ensure you check your per transaction Limit on UPI Transactions before you can finally do anything.