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Personal Banking > Digital Banking > Payments > Unified Payment Interface (UPI)

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Key Features of UPI

Send and receive money instantly on the BHIM AU App or AU 0101 App

With Virtual Payment Address (VPA), your account details are safe

Stay updated with your finances & check the balance of all linked accounts

About UPI (Unified Payment Interface)

    The world today is moving at a fast pace. As a consumer, you want speed, efficiency, and hassle-free options in whatever you do, including banking. In current times, the need for digitalization and having a cashless economy is essential and Unified Payment Interface (UPI) makes this possible.

    With a UPI money transfer facility, you can carry your bank in your smartphone and transact wherever and whenever you need. The service is available on our AU 0101 App and BHIM AU App and it lets you make instant real-time payments to transfer, buy and sell goods and services, add beneficiaries and much more. This means you do not have to carry a wallet, chequebook or ATM card anymore!

Reasons to opt for BHIM UPI

  • Option to add beneficiaries: Just like transferring money, adding beneficiaries is simple and quick. Plus, you can do this directly on the app by entering the VPA without having to enter a bank account number or IFSC code.
  • Instant, no-cost fund transfers: You can transfer funds instantly without any charges. This is an entirely safe and secure way to send and receive money.
  • 24x7 Availability: Make transactions anytime during the day, all year round. UPI can be used 24x7 through the year.
  • Virtual Payment Address (VPA): With our AU 0101 App or the BHIM AU App, you can send money to a VPA or an account number and IFSC code.
  • Easy transfers: Choose whether you want to send money to a VPA or a bank account number.
  • Bank account number not required: You do not need to remember or know your bank account number when using UPI money transfer.
  • Financial freedom: You can carry your bank in your smartphone and enjoy financial efficiency and freedom to carry out financial transactions wherever you go.
 

How do I use BHIM UPI?

Using UPI is simple. All you need is a smartphone and an internet connection. You can refer to the following steps:
  • Ensure you have a smartphone with an active internet connection.
  • Go to Google Play Store/App Store and look for our AU 0101 App or the BHIM AU App.
  • Download the app on your phone.
  • Once the app has been downloaded, follow the instructions on the app to sign in.
  • An SMS will be sent from your phone to validate your mobile number.
  • Select your eligible bank account and verify your Debit Card details.
  • Select your UPI ID and set your mPIN to start transacting with UPI.
After your account has been set up, you can use UPI to transfer money by entering the recipient’s number and your UPI PIN. Your money will be transferred within seconds.
 

Limits for BHIM UPI

Here are the limits to use our UPI money transfer:
  • There is a daily transfer limit of INR 100,000 for all our customers.
  • A limit of INR 5000 is applicable for the first 24 hours post registering for UPI.
You can check additional terms and conditions for UPI transactions here.
 

UPI FAQs

 

Q1. What is UPI?

Unified Payments Interface (UPI) is a payment system that can be used on a smartphone. This simple tool lets you add multiple bank accounts to a single app and transfer money with a single tap on your smartphone. With this, you can make bank-to-bank transfers in real-time. The UPI PIN is all you need to transfer money anytime and anywhere.

Q2. How do I make a UPI payment?

You can make UPI payments from your smartphone by entering the UPI PIN. You do not need the recipient’s bank account number; you can transfer money directly to their mobile phone, provided it is linked to a UPI ID.

Q3. What is required for UPI payment?

You need a smartphone, an active internet connection, a bank account linked to your UPI app and a mobile number registered with your bank to make a UPI payment. You also need the Virtual Payment Address (VPA), mobile number or bank account number of the person you are transferring the funds to.

Q4. Who regulates UPI payments in India?

In India, UPI has been developed by the National Payments Corporation of India (NPCI) and is currently being regulated by the Reserve Bank of India (RBI). It is a payment system that allows you to make 24x7 cashless money transfers from your smartphone.

Q5. How do I activate my UPI?

You can activate your UPI by downloading the UPI app on your smartphone. You will be asked to enter your name, bank account details and the mobile number registered with your bank. A one-time password will be sent to your phone. You can use this to verify your account. You can then proceed to create a UPI PIN for yourself.

Your UPI will then be ready to use!

Q6. Is UPI payment safe?

UPI payments are entirely safe. The money is transferred from one bank account to another in real-time. There are no third parties involved, and your money stays in your bank account and not on any other portal. You can also directly carry out money transfers to another mobile number linked to a UPI ID.

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