How to Transfer Funds Using UPI

1. Log in to Your Trading App or Page:

• Navigate to the Fund Transfer page.
• Select UPI and follow the on-screen instructions to transfer funds.

2. What is UPI?

Unified Payment Interface (UPI) enables bank account holders (of banks participating in UPI) to send and receive money from their smartphones using a single identifier, the Virtual Payment Address (VPA), without entering additional bank account information. UPI can also be used to pay merchants who accept UPI as a payment mode.

3. What is a Virtual Payment Address (VPA)?

A VPA is an identifier (formatted as abc@bank, where "abc" is a unique name chosen by the user) that can be uniquely mapped to an individual bank account. UPI services allow customers to create multiple VPAs for making and receiving payments.

4. How Long Does It Take for Money to Get Credited?

For successful UPI transactions, funds are credited to the beneficiary's account instantly.

5. Advantages of UPI Fund Transfer:

• Instant service available 24/7, including public/bank holidays.
• Simple fund transfer steps using the beneficiary's VPA.
• No pre-registration required for the beneficiary.

6. What is the UPI Transaction Limit?

UPI transaction limits vary by bank. Banks may change the limits under NPCI guidelines. The NPCI's upper limit is Rs 5 lakhs per transaction and Rs 5 lakhs cumulative transaction value. A maximum of 10 transactions can be initiated within 24 hours from the first transaction.

7. Are There Any Charges for UPI Transactions?

Currently, there are no charges for transactions done through UPI. Charges may be revised from time to time.

8. Credit Timing for Trading Account:

Your account ledger will be credited immediately, and the trading system will be credited within 15 minutes of a successful transfer during trading hours. Delays may occur due to payment gateway issues. Contact Support if you experience delays.

9. Payment Completed but Not Received:

After completing a transaction, you should see a success status on the UPI app and receive an SMS from your bank. If you haven't received confirmation within an hour, contact your bank's Customer Care or lodge a complaint via the UPI app.

10. Failed UPI Transaction with Debited Account:

For failed transactions, debited money will be credited back to your account instantly. For timed-out transactions, the amount will be settled to the beneficiary or debited account within two working days.

11. What is Bharat Interface for Money (BHIM)?

BHIM is an app that allows quick and easy payment transactions using UPI, without needing to fill out bank account details. It enables direct bank-to-bank payments and instant money collection using just a mobile number or Payment Address.