UPI Payment Limit Extend: As the trend of digital payment has increased rapidly in the country, the needs of the people are also increasing at the same pace. Especially for those who do big transactions every day. But due to the daily limit of Rs 1 lakh of UPI (UPI Payment Limit), they have to face many problems.
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In such a situation, the question arises whether the daily limit of UPI can be increased. If yes, then how? And when can it be increased? What are the rules of banks and UPI apps for this? And who provides the facility to increase the limit?
What is the limit in UPI?
Through UPI, you can transfer up to 1 lakh rupees in a day. This limit depends on banks and UPI apps, such as BHIM, Gpay, PhonePe or Paytm. However, most apps give a limit of up to one lakh rupees. But this depends on the bank and UPI, which you can increase later.
How to increase limit in UPI?
To increase the UPI limit, you have to fulfill some simple conditions. The bank looks at your transaction history, account activity, KYC status and account opening date. If your account is good and active, then the chances of increasing the limit are higher.
- BHIM App: This app follows NPCI rules. But in this you may have to check the policy of the bank.
- Google Pay: In this, you have to add a bank account that supports higher payment limit. For this, you have to do KYC.
- PhonePe: Through this app you can request to increase the limit. Or you will have to update the linked account.
- Paytm: For this, you must be verified. After which you can request to increase the limit by clicking on “Manage Bank Accounts” in the app.
So should everyone increase the limit?
The question arises whether one should increase the limit first? Actually, increasing the limit is as beneficial as it increases the risks. Suppose your phone falls, gets stolen or some fraud happens with you, then your account can get emptied in a moment.
Because UPI payment is done in one click, which cannot be withdrawn. So increase the limit only when you need it. However, with increasing the limit, you also have to take care of security. Keep your phone and app locked with UPI PIN, so that you can avoid fraud.
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