UPI

UPI

UPI or Unified Payments Interface is an immediate real-time payment system that helps in instantly transferring funds between two bank accounts through a mobile platform. Hence, UPI is a concept that allows multiple bank accounts to get into a single mobile application.

Unified Payments Interface (UPI) is a platform provided by the National Payments Corporation of India (NPCI) to facilitate interoperability amongst various banks. It’s a one-stop solution for multiple bank accounts. It allows all account holders to send and receive money using their smartphones with a single identifier – virtual payments address (VPA) commonly known as UPI ID – without entering any bank account information. Therefore, customers do not need to know the payee’s or payer’s IFS code, bank account details, etc. and this makes the process simpler. So customers can make faster payments to their peers and merchants.
The bank offers UPI services for customers (peer–to peer and peer-to-merchant payments) through various platforms. Apart from the above, the Bank has also partnered with the following TPAPs ( Third Party App Providers) to offer UPI services on their platform:-

• Google Pay
• PhonePE
• WhatsApp
• PayTM
• BHIM
• AXIS Pay

Transaction Limits

Timings: 24×7×365

UPI – Frequently Asked Questions
Q. What happens if a wrong UPI PIN is entered?
A. The transaction you have initiated will fail if you enter the wrong UPI PIN.

Q. I cannot find my bank account once I select the bank name. What should I do?
A. You must ensure that your mobile number is linked to the bank account you are talking about. Also, you must make sure that the same mobile number is registered with the UPI app. If they are not the same, you cannot access the bank account details on the app or transact with them.

Q. How do I pay for an online merchant through UPI?
A. When you make an online purchase, one of the payment options will be UPI payment. Choose the option and select the UPI service provider application in which your payment address (Virtual Payment Address) like; xyz@upi has been created. You will be redirected to your UPI app. Now, enter your UPI PIN to complete the payment.

Q. Are UPI transactions possible only during bank business hours?
A. UPI transactions can be done at any time of the day; they need not necessarily be within bank business hours.

Q. Money has been debited from my account but I have not received any confirmation message. What should I do?
A. Upon completing a transaction, you must see a success status on your UPI app. Also, an SMS will be sent to your registered mobile number from your bank. It may take longer to receive the confirmation message due to operator issues. However, it is recommended to contact the customer support of your bank if you do not receive a confirmation within an hour from the time of completing the transaction.

Q. Should I add a beneficiary before making a fund transfer via UPI?
A. No. Like the NEFT transactions, you do not have to add beneficiaries in advance to make a fund transfer. With UPI, you need to have the virtual ID, account number + IFSC, or Aadhaar number of the recipient to initiate the fund transfer.

Q. Is there a way to view my transaction history?
A. Yes. UPI apps provide a way to view transaction history, choose the ‘Transaction History’ option to view all your past and pending transactions.

Q. Must the recipient have a bank account to make a UPI transfer? Does it work with a wallet app?
A. It is mandatory for the recipient to have a bank account to get funds transferred via UPI. You cannot link a wallet to UPI.

Q. If my mobile is lost, can others access my bank account and make transactions?
A. If you lose your mobile, go ahead and block your mobile number so that no transactions can be made from your mobile number. Also, UPI PIN is required to make any transaction via UPI. Since this remains confidential, nobody can make transactions through your lost mobile.

Q. Is it possible to put a stop payment request for a transfer made through UPI?
A. No. Once you initiate a payment via UPI, you cannot stop the payment.

Q. Is there an upper limit on the UPI transfer amount?
A. Yes. You can transfer an amount up to Rs.1 lakh via UPI transaction.

Q. How can I raise a dispute for a particular UPI transaction?
A. You can go to ‘Transaction History’ and click on the ‘Raise Dispute’ option & select the dispute type