Paytm, Google Pay, Phone Pay limit fixed, know how much can be transacted now
Daily UPI transaction limit reached, but your transaction amount was less than the specified transfer limit? National Payments Corporation of India (NPCI) introduced Unified Payments Interface (UPI) a few years back and this instant real-time payment system has really changed our lives. From buying vegetables from roadside vendors to transferring money to friends or family, UPI has made bank-to-bank money transfer easy and secure. But with the reach, the government has now set a cap on the amount that can be used for daily transactions.
UPI Money Transfer Limit
As per NPCI guidelines, an individual can make payments through UPI up to a maximum of Rs 1 lakh per day. The limit varies from bank to bank as small banks like Canara Bank allow only Rs 25,000 whereas big banks like SBI have set a daily UPI transaction limit of Rs 1,00,000.
UPI transfer limit per day
Along with the money transfer limit, there is also a limit on the number of UPI transfers that can be done in a day. Now you can use UPI transfer only 20 times in a day. After the limit is exhausted, one has to wait for 24 hours to renew the limit. However, the limit may vary as per the bank guidelines.
Let’s take a look at the daily UPI transfer limits across UPI payment service providers including GPay, PhonePe and others.
GPay UPI Transfer Limit
Google Pay allows daily money transfers of up to Rs 1,00,00 per day with a total limit of 10 transactions across all UPI apps and bank accounts. Notably, GPay caps the daily transaction limit even if a person sends money above Rs 2,000.
PhonePe UPI Transfer Limit
PhonePe has set a daily UPI transaction limit of Rs 1,00,000. However, the limit may differ from bank to bank. Along with this, a person can do a maximum of 10 or 20 transactions per day through PhonePe UPI depending on the bank’s guidelines. Like GPay, Phonepe also does not accept transactions above 2000.
Paytm UPI transfer limit
Paytm UPI allows users to transfer money up to Rs 1 lakh. The company has also set limits on daily money transfers and has limits on investments in the stock market.
▪️Paytm Daily Money Transfer Limit – Rs 1,00,000
▪️Paytm Hourly Money Transfer Limit – Rs 20,000
