If you also pay through UPI, then this news is very useful for you. Do you know that your bank puts a transaction limit on you? You can make payments through the UPI app only up to a limit. Every bank has a dily limit for UPI transactions. This means that you can send or receive money only up to a certain amount in a day.
Apart from this, how much money can be sent or received through UPI at one go. Different banks have different limits on this too. However, there is no need to pay any additional charge for paying someone from these payment apps.
According to NPCI guidelines, you can do transactions up to Rs 1 lakh in a day through UPI. This limit may vary from bank to bank. The daily limit in Canara Bank is only Rs 25,000 while in SBI the daily limit is Rs 1 lakh. 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 has been set at 20 transactions. After the limit is over, one has to wait for 24 hours to renew the limit. However, different UPI apps have different limits. Let’s check now through which app how much transaction you can do every day.
Amazon Pay has fixed the maximum limit for making payments through UPI at Rs 1 lakh. After registering on Amazon Pay UPI, users can transact only up to Rs 5000 in the first 24 hours. On the other hand, depending on the bank, the number of transactions per day has been fixed at 20.
PhonePe has also fixed the maximum amount limit of Rs 1 lakh in a day through UPI. Wherein now one can do maximum 10 or 20 transactions in a day through this app. PhonePe has not fixed any hourly transaction limit.
With Google Pay or Gpay, Indian users can make payments of up to 1 lakh through UPI throughout the day. However, you can do only 10 transactions in a day. That is, you can complete 10 transactions of maximum 10-10 thousand in a day. However, Google Pay has not fixed any hourly transaction limit.
Through Paytm UPI, you can transfer only Rs 1 lakh in a day. On the other hand, now you can transfer only Rs 20,000 from Paytm in an hour. Through this app, you can do 5 transactions in an hour and only 20 transactions in a day.