Digital payments are increasingly being used by almost everyone. Dealing with cash is done very sparingly. The reason is that there is a facility to send money online everywhere outside. As a result, more and more people are turning to digital payments. However, digital payments are usually made through UPI. Apps are different but the platform is the same. That is why everyone is using UPI for payments. What are the rules for sending cash through UPI? Let us now know the details like.
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UPI is based on IMPS technology. So it is possible to send cash up to a maximum of Rs. 1 lakh per day. This limit is imposed by NPCI. Payments can now be made up to 20 times a day from a UPI account. If the limit is exceeded, you will have to wait another 24 hours. However, the daily UPI payment limits vary depending on the bank. Let us now look at those details.
Customers of SBI, ICICI, HDFC, Andhra Bank, Axis Bank, Canara Bank, Citibank, Citibank and Dena Bank can send up to Rs 1 lakh per day through UPI. A limit of Rs 1 lakh per transaction has been imposed. Bank of Baroda customers can send up to Rs 50,000 per day through UPI at a rate of Rs 25,000 per transaction. Bank of Maharashtra customers can send Rs 20,000 per day in two installments at the rate of Rs 10,000.
Corporation Bank customers pay Rs. 50,000 per transaction per day at a rate of Rs. 1 lakh can be sent. Rs 10,000 can be sent for a single transaction in Bank of India. The maximum limit is Rs. 1 lakh per day. At the Central Bank, however, a maximum of Rs 50,000 per day and a maximum of Rs 25,000 per transaction can be sent through UPI. Through the Bhim app, however, a transaction of up to Rs 40,000 is allowed. A maximum of Rs 40,000 per day can be sent.
Merchants can accept payments up to Rs 2 lakh per day through UPI. If you change your phone, mobile number or UPI PIN, you will only be allowed to send Rs 5,000 for the first 24 hours.
