Utility: What is the transaction limit per day in different UPI apps, know the details!
The National Payments Corporation of India (NPCI) launched the Unified Payments Interface (UPI) a few years ago. UPI has made bank-to-bank money transfers easy and secure. But along with the reach, the government has set a cap on daily transfers.
As per NPCI guidelines, an individual can make payments through UPI up to a maximum of Rs 1 lakh per day. The limit varies from bank to bank as small banks like Canara Bank allow only Rs 25,000 whereas big banks like SBI have set a daily UPI transaction limit of Rs 1,00,000.
Along with the money transfer limit, there is also a limit on the number of UPI transfers that can be done in a day. The daily UPI transfer limit is set at 20 transactions. After the limit is over, one has to wait for 24 hours to renew the limit. However, the limit may vary as per the bank guidelines.
Google Pay or GPay allows daily money transfers of up to Rs 1 lakh per day with a total limit of 10 UPI payment transactions across all UPI apps and bank accounts. Notably, GPay also caps the daily transaction limit if a person sends money requests above Rs 2,000.
PhonePe has set a daily UPI payment transaction limit of Rs 1,00,000. However, the limit may differ from bank to bank. Along with this, a person can do a maximum of 10 or 20 transactions per day through PhonePe UPI depending on the bank's guidelines. Similar to GPay, PhonePe also allows money requests of up to Rs 2,000 per day.
Paytm UPI allows users to transfer money up to Rs 1 lakh.
Amazon Pay has also set a maximum money transfer limit of Rs 1,00,000 through UPI. Notably, in the first 24 hours after registering for Amazon Pay UPI, users can transact up to INR 5,000 only. The number of transactions per day is set up to 20 depending on the bank.