UPI: Five Important Points To Know

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National Payments Corporation of India (NPCI) launched Unified Payment Interface (UPI) in India which enables all bank account holders to send and receive money from their smartphones without entering bank account, IFSC and other details or net banking password.

Below listed are the five important points about UPI:

Different banks

If you have two bank accounts in two different banks, you can use more than one UPI application on the same mobile if they are linked to different bank accounts. Several bank accounts can be linked to the same virtual address depending on the functionality being made available by the respective PSPs. You can link two bank accounts to one UPI app also, but you need to give two different UPI PIN for the accounts.

Loss of mobile

If you lost or your mobile is stolen, you need to block the mobile number immediately thus no transaction can be initiated from the same mobile number which is a part of device tracking and at the same time, MPIN would be required for any transaction which is not to be shared with anyone.


There is a limit on fund transfer using UPI. At present, The per-transaction cap is INR 100,000 and upper limit per day UPI transaction is Rs 1 Lakh.This may change from time to time and is subject to the UPI guidelines.


In case of failure of the transaction using UPI money will be refunded back to your account. Sometimes this takes longer than intended. If you do not receive the refund within 1 hour, you can contact the customer care of the respective bank.

Change in app

In case of a change in UPI App, a person needs to re-register, and it depends on the PSP whether same virtual ID can be used with necessary checks they can establish.





Read more about: upi, npci, banking
Story first published: Wednesday, November 29, 2017, 12:10 [IST]
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