Making online payments is not only easier but also lets people travel without keeping a lot of cash in their pocket.
But there is a limit to the maximum amount of money you can send to someone.
Google Pay (GPay) has informed about UPI issuing bank wise limits.
From State Bank of India (SBI) to private banks like HDFC, ICICI, and more- there is a transaction limit for all.
What is UPI?
According to the National Payments Corporation of India (NPCI), Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing and merchant payments into one hood.
It also caters to the “Peer to Peer” collect request which can be scheduled and paid as per requirement and convenience.
According to NPCI, the maximum amount a person can pay on a single day via UPI is Rs. one lakh.
However, it needs to be noted that the limit varies from bank to bank. Are you aware of the limit? Check details here.
GPay: UPI Payment limit of banks
1. State Bank of India (SBI): The UPI transaction limit of the bank is of Rs. 1 lakh. The UPI daily limit is also of Rs. 1 lakh.
2. HDFC Bank: The UPI transaction limit of the bank is of Rs. 1 lakh (Rs. 5000 for new customer), while the UPI daily limit is of Rs. 1 lakh.
3. ICICI Bank: Both the UPI transaction limit and daily limit of the bank is of Rs. 10000 (25000 for GPay users).
4. Axis Bank: The UPI transaction limit and daily limit of the bank is of Rs. 1 lakh.
5. Bank of Baroda: The UPI transaction limit of the bank is Rs. 25000. However, the daily limit of the bank is not yet set.
The complete list can be checked here.
When you request money from someone
Step 1:
You can request up to Rs. 2000 at a time from someone on Google Pay. Here is how.
Step 2:
Open Google Pay app.
Step 3:
From the bottom of the screen, swipe up.
Step 4:
Tap the photo of the contact from which you want to request money.
Step 5:
You can also search for their name, phone number, account number or UPI ID.
Step 6:
At the bottom, tap Request.
Step 7:
Enter the amount and description.
Step 8:
Tap Request.
Step 9:
When the other person pays or declines your request, you’ll get a notification from Google Pay.