If you also pay through UPI, this information will be very helpful to you. Do you realize that you have a transactional limit imposed by your bank? Only specific amounts can be paid using the UPI app. Each bank has a per-day UPI transaction limit. This implies a daily limit on how much money you can send or receive. Additionally, there are different limits on different banks. However, no additional fees are linked with using these payment applications to send money to someone.
Transaction Limit
You can use UPI to conduct transactions up to Rs 1 lakh per day, per NPCI regulations. This limit could be different from bank to bank. Canara Bank's daily limit is only Rs. 25,000, but SBI's is Rs. 1 lakh. There is a limit on the maximum amount of money that can be transferred and the maximum number of UPI transactions that can be made in a day.
There is a 20-transaction daily limit on UPI transfers. In addition, one must wait 24 hours after the limit has expired before renewing it. Different UPI apps, however, have various restrictions. So, check the number of transactions you make each day using which app.
Amazon Pay
Amazon Pay has set the maximum amount to be paid through UPI at Rs 1 lakh. Users can only make transactions up to Rs 5000 in the first 24 hours after signing up for Amazon Pay UPI. On the other hand, the limit on daily transactions has been set at 20, depending on the bank.
PhonePe
PhonePe established a daily UPI maximum amount limit of Rs. 1 lakh. This software allows users to complete up to 10 or 20 transactions per day. PhonePe sets no daily transaction limit.
Google Pay
Indian customers can utilize Google Pay or Gpay to send up to 1 lakh over UPI at any time. You can only complete ten transactions every day, though. This means that you can perform a maximum of 10,000 transactions per day. Google Pay hasn't set a limit on daily transactions, though.
Paytm
You can only send up to Rs 1 lakh daily with Paytm UPI. However, you can only send Rs 20,000 from Paytm at this time every hour. With this app, you can only complete 20 transactions per day and five transactions per hour.