SBI,Google Pay and Phonepe
The UPI gives you the easiest way of fund transfer but there are limits of transactions. The NPCI which runs the UPI platform has set the limit for transactions. Besides this, Every UPI app operators, be it Phonepe, SBI Pay, Tez of Paytm has also set their own limit within the limits of the UPI system.
The fund transfer through the UPI payment system has 3 types of limit. Every UPI App has to work within this limit. The apps can’t exceed the limit set by the NPCI. However, they can put their own sub-limit.
2- Per Transaction Limit
The UPI System does not have any limit for the per transaction. You can send money up to ₹1 lakh in a transaction. However, Some UPI apps have set a limit for the per transaction.
3- Number of Transaction
There is also a limit to the number of transactions. You can’t make more than 10 payments in 24 hours from an account. Earlier this limit was 20 per day. But now the UPI has reduced the limit as many people were using the UPI platform multiple times just to earn rewards.
Note, this limit is not applicable if you make a payment to the merchant. The limit is only for the Peer to Peer Transfers.
Paytm Transaction Limit
The Paytm Follows the limits set by the UPI System. It gives you the maximum relaxation available under the UPI platform. So, you can send as much as ₹1 lakh in a day using the UPI facility of the Paytm. You can do a maximum of 10 UPI transactions through the Paytm.
Phonepe UPI Transaction Limit
The Phonepe App has a maximum transaction limit for the per transaction. It is ₹1 lakh per transaction. However, There is no information about the daily limit on the payment. But, as we know that NPCI does not permit more than ₹1 lakh payment in a day from one account. Hence this limit would also apply to the Phonepe. Similarly, 20 UPI transaction per day limit would be also applicable to the Phonepe. This limit is also applicable to the account, irrespective of the UPI App.