Are you confused about the UPI (Unified Payments Interface) daily transaction limit? Do you not understand when you spend up to the capped limit? If you find yourself in such a situation, then read this article, get your facts straight and never have a problem with UPI transaction limit.
The Unified Payments Interface (UPI) was introduced a couple of years ago by the National Payments Corporation of India (NPCI). It is an instant real-time payment system which transformed our financial lives. Not only we became dependent on it, but it has also become the new way of paying roadside vendors to transfer money between friends and family.
However, with all the benefits, there were supposed to be some rules set against its use to restrict its misuse.
UPI Transaction Daily Limit
NPCI has set a daily transaction limit on the use of UPI apps in terms of money and transfers. The first one denotes the amount you can transfer in a day whereas the other one is the number of transactions you can make in a day.
UPI Money Transfer Limit
According to the guidelines set by NPCI, a person can transfer up to Rs. 1 Lakh in a day using his or her UPI application. This limit may cap at Rs. 25,000 for smaller banks like Canara Bank while touching the last limit of a lakh when it comes to bigger banks like SBI.
UPI Transfer Limit Per Day
In addition to a limit set on the amount that you can transfer in a single day, there is a limit to the number of times you can make transactions in a day. The general limit is that you can make 20 transactions in a single day. Once you have exceeded the limit, you will have to wait for 24 hours for renewal of the limit.
GPay UPI Transfer Limit
If you are a Google Pay or GPay user, then you can transfer up to Rs. 1,00,000 in a day with 10 transaction limits. You can make these transactions across all the UPI apps and bank accounts.
PhonePe UPI Transfer Limit
PhonePe also offers you the same limit as GPay which means you can transfer up to Rs. 1,00,000 in a day using 10 transactions. However, these limits are set to 20 which varies according to the guidelines of the bank you are banking with.
Paytm UPI Transfer Limit
Paytm allows its users to transfer the same amount of money, that is Rs. 1,00,000. However, there are other limits set for the users by the application and you must check them out below:
- Paytm daily money transfer limit- Rs 1,00,000
- Paytm hourly money transfer limit- Rs 20,000
- Paytm number of transactions per hour- 5.
- Paytm number of transactions per day- 20
Amazon Pay UPI Transfer Limit
The limit set for Amazon Pay is also Rs. 1,00,000 however you can transfer only Rs. 5,000 in the first 24 hours of registration. The maximum number of transactions that you can do in a day is 20 which varies from bank to bank.
In this article, we learnt about the UPI transaction limit for UPI apps like GPay, PhonePe, Paytm, Amazon Pay and more. We also learnt that there are two kinds of limits which are the limits set on the money and the number of transactions you can do in a day.
I hope you found this article interesting and helpful and that you would share this article with people around you.