Answer By law4u team
Maximum Limit for UPI Transactions UPI (Unified Payments Interface) is a real-time payment system developed by NPCI (National Payments Corporation of India) that enables users to instantly transfer funds between bank accounts through mobile devices. It has become an essential tool for making digital payments, ranging from small everyday transactions to larger payments. The UPI transaction limits are set by NPCI and banks, and they depend on the type of transaction, user verification, and the platform used. Here’s an overview of the maximum limits for UPI transactions: 1. Transaction Limit for Individuals For regular UPI users, there are certain limits on the amount that can be transferred in a single transaction or in a day: Maximum per transaction: The maximum amount that can be transferred in a single UPI transaction is ₹1,00,000 (One lakh rupees). This applies to both person-to-person (P2P) and person-to-merchant (P2M) transactions. Daily transaction limit: The total limit for UPI transactions per day is also ₹1,00,000. This means, even if you make multiple transactions, the total amount transferred in a single day cannot exceed ₹1 lakh. 2. Transaction Limit for Merchants Merchants and businesses using UPI for receiving payments can also benefit from this platform. However, there are separate guidelines for merchant transactions: Maximum per transaction: Merchants can accept payments of up to ₹1,00,000 in a single UPI transaction, just like individual users. Daily transaction limit: The daily limit for merchants is also set at ₹1,00,000. If a business receives multiple payments, the total daily transactions cannot exceed this amount. 3. Transaction Limits for Different UPI Apps Different UPI-enabled apps (like Google Pay, PhonePe, Paytm, BHIM UPI) may impose their own limits on UPI transactions, which may be lower than the central limit set by NPCI. These limits may depend on factors such as user verification and the type of account (bank account or wallet). Here’s how it works: Verified UPI Users (Full KYC): If the UPI user has completed the Full KYC process, they can access the maximum limits for both per transaction and daily transaction limits, which are ₹1,00,000. Non-verified UPI Users (Limited KYC): For users who haven’t completed Full KYC, the daily transaction limit can be much lower, typically ranging between ₹10,000 to ₹50,000, depending on the bank and app used. 4. Transaction Limit for Special UPI Services Special UPI services like UPI AutoPay, used for subscriptions, recurring payments, or bill payments, also have a defined transaction limit: AutoPay Transactions: For UPI AutoPay transactions, the limit for each transaction can be as high as ₹5,00,000. However, this is usually applicable only for specific use cases such as subscription payments, loan repayments, and utility payments. 5. Transaction Limits for UPI QR Code Payments UPI payments using QR codes also follow the same general rules regarding transaction limits: UPI QR Payments: When making payments through UPI QR codes, the limit is typically ₹1,00,000 per transaction. However, specific merchants or service providers may set their own limits depending on their needs. 6. Limits for UPI 2.0 Features The UPI 2.0 features introduced additional functionality like overdraft accounts and e-mandates for recurring payments. The transaction limits for these features remain similar to those for standard UPI transactions, but with the flexibility to handle overdrafts and recurring payments. 7. International Transactions via UPI As of now, international UPI transactions are still in their early stages. The NPCI and banks are working on enabling UPI-based payments for international transactions, but this feature is available only in select countries (like Singapore, Bhutan, and UAE). The limits for international transactions will be subject to regulations of the respective country and may vary based on the agreements between the banks and the NPCI. Conclusion The maximum limit for UPI transactions in India is generally ₹1,00,000 per transaction and per day for individual users. Merchants also have the same limit for receiving payments. However, this can vary based on factors like user verification and the UPI app used. For non-verified users, the limits may be lower. Special services like UPI AutoPay or recurring payments can have higher limits in certain cases, but overall, UPI offers a secure and efficient method for both small and large transactions.