For any complaint related to UPI, you have to approach the same bank to which UPI is linked. As far as the maximum transaction is concerned, you can transfer funds up to Rs 2 lakh per transaction.
Unified Payment Interface (UPI) is the most accurate system of instant payment. It is called the National Payment Corporation of India (NPCI) has prepared. Reserve Bank of India to NPCI (RBI) regulates. UPI is built on the IMPS infrastructure of the payment system, in which you get the facility of instant money transfer. Funds are transferred between the bank accounts of two parties in just a short time. But a limit is fixed for this fund transfer. You cannot transfer funds through UPI beyond that limit. This limit is Rs 2 lakh per transaction.
To use UPI, you have to create a UPI PIN. This PIN is the same as we generate the PIN of ATM. We can generate the UPI PIN ourselves, which is a 4-6 digit passcode. The PIN has to be generated while registering for the first time on any UPI app. You will have to enter this PIN the next time you do a transaction. Without entering this PIN, the transaction will not be successful. Online purchase bill payment can also be done through UPI. It has to be kept in mind that the merchant to whom you are paying, supports UPI payment.
How to make payment through UPI
To make payment on the online merchant’s platform, one has to go to his payment option. By clicking on it, you will have to enter the payment address like abc@upi. After entering this, a collect request will be received on your BHIM app. Here you will have to enter the UPI PIN and with this your payment will be successful. This work is very easy and can be completed even for the first time without any help. The payment may have gone from your side, money may have been deducted from your account, but the money has not reached the receiver’s account. The reason for this could be that there is a delay in the network of the beneficiary bank. However, your sent money will reach that account within 48 hours.
Beneficiary registration is not required to transfer funds through UPI. Money transfer can be done in the beneficiary’s account with the help of Virtual ID/Account and IFSC/Aadhaar number. To operate UPI, earlier the bank account had to be linked. But now you can run the UPI payment app by linking it to any PPI wallet and UPI.
What is the maximum limit of payment
The biggest facility in UPI is that if the payment is declined, the money is immediately returned to the payer’s bank account. If you do not get money back in your account immediately, then you can contact your bank to which UPI is linked. For any complaint related to UPI, you have to approach the same bank to which UPI is linked. As far as the maximum transaction is concerned, you can transfer funds up to Rs 2 lakh per transaction.
Source: www.tv9hindi.com
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