UPI Transaction Limit: In the age of electronic money, consumers now prefer to do transactions online rather than in cash. Internet sales are fast rising across the globe. Several people also use UPI to make payments.
If you also pay through UPI, this information will be very helpful to you. Do you realize that you have a transactional cap imposed by your bank? Only certain amounts can be paid using the UPI app. Each bank has a daily UPI transaction cap. This implies that there is a daily cap on the amount of money you can send or receive.(toc)
How much cash can also be transmitted or received simultaneously via UPI. Also, there are various limits on this between banks. But, there are no additional fees associated with using these payment applications to send money to someone.
You can use UPI to conduct transactions up to Rs 1 lakh per day, per NPCI regulations. This cap could be different from bank to bank. Canara Bank’s daily limit is only Rs. 25,000, but SBI’s is Rs. 1 lakh. There is a cap on both the maximum amount of money that can be transferred and the maximum number of UPI transactions that can be made in a day.
There is a 20 transaction daily cap on UPI transfers. One must wait 24 hours after the limit has expired before renewing it. Different UPI apps, however, have various restrictions. Let’s see the number of transactions you may make each day using which app.
Google Pay
The maximum amount that may be paid through UPI has been set by Amazon Pay at Rs 1 lakh. Users can only make transactions up to Rs 5000 in the first 24 hours after signing up for Amazon Pay UPI. On the other hand, the cap on daily transactions has been set at 20, depending on the bank.
PhonePe
Also, PhonePe established a daily UPI maximum amount cap of Rs. 1 lakh. Currently, this software allows users to complete no more than 10 or 20 transactions per day. There is no daily transaction cap set by PhonePe.
Google Pay
Indian customers can utilize Google Pay or Gpay to send up to 1 lakh over UPI at any time. You can only complete 10 transactions every day, though. This means that you can accomplish a maximum of 10,000 transactions per day. Google Pay hasn’t set a cap on daily transactions, though.
Paytm
You are only able to send up to Rs 1 lakh with Paytm UPI per day. Nevertheless, you can only send Rs 20,000 from Paytm at this time every hour. You can only complete 20 transactions per day and 5 transactions per hour with this app.
