UPI - Frequently Asked Questions

You must have known that UPI, Unified Payment Interface, is an instant payment method developed by National Payments Corporation of India (NPCI) – an RBI-regulated entity. The payment method is engineered over the IMPS infrastructure. 

You can instantly transfer money between two party’s bank accounts via UPI once the sending party has set up a 4/6-digit UPI PIN along with the UPI ID. The sender must also know the recipient’s mobile number registered with UPI or the UPI ID. With this knowledge in the background, you start registering or transacting with UPI and you may encounter various questions at each stage of the process. 

Here is a list of the most common questions related to UPI and their respective answers.

What happens if a wrong UPI PIN is entered?

The transaction you have initiated will fail if you enter the wrong UPI PIN.

I cannot find my bank account once I select the bank name. What should I do?

You must ensure that your mobile number is linked to the bank account you are talking about. Also, you must make sure that the same mobile number is registered with the UPI app. If they are not the same, you cannot access the bank account details on the app or transact with it.

How do I pay for an online merchant through UPI?

When you make an online purchase, one of the payment options will be UPI payment. Choose the option and enter your payment address in the format xyz@upi. You will be redirected to your BHIM app. Now, enter your UPI PIN to complete the payment.

Are UPI transactions possible only during the bank business hours?

UPI transactions can be done at any time of the day; it need not necessarily be within the bank business hours.

Money has been debited from my account but I have not received any confirmation message. What should I do?

Upon completing a transaction, you must see a success status on your BHIM app. Also, an SMS will be sent to your registered mobile number from your bank. It may take longer to receive the confirmation message due to operator issues. However, it is recommended to contact the customer support of your bank if you do not receive a confirmation within an hour from the time of completing the transaction.

Should I add beneficiary before making a fund transfer via UPI?

No. Like the NEFT transactions, you do not have to add beneficiary in advance to make a fund transfer. With UPI, you need to have the virtual ID, account number + IFSC, or Aadhaar number of the recipient to initiate the fund transfer.

Is there a way to view my transaction history?

Yes. UPI apps provide a way to view transaction history. In the ‘Home’ screen of your UPI app, choose the ‘Transaction History’ option to view all your past and pending transactions.

Must the recipient have a bank account to make a UPI transfer? Does it work with a wallet app?

It is mandatory for the recipient to have a bank account to get funds transferred via UPI. You cannot link a wallet to UPI.

If my mobile is lost, can others access my bank account and make transactions?

If you lose your mobile, go ahead and block your mobile number so that no transactions can be made from your mobile number. Also, UPI PIN is required to make any transaction via UPI. Since this remains confidential, nobody can make transactions through your lost mobile.

Is it possible to put a stop payment request for a transfer made through UPI?

No. Once you initiate a payment via UPI, you cannot stop the payment.

Is there an upper limit on the UPI transfer amount?

Yes. You can transfer an amount up to Rs.1 lakh via UPI transaction. However, the upper limit for transactions related to capital markets, insurance, collections and foreign inward remittances is Rs.2 lakh. For tax payments and payments to educational institutions, hospitals, IPO, and RBI retail direct schemes, the upper limit is Rs.5 lakh.