UPI makes life easier for many of us. This payment method is one of the most popular digital options. You may sometimes reach your daily limit due to the ease of payments. UPI can allow you to make transactions up to a certain limit each day.
When you pay using UPI, there are many apps and banks involved. PhonePe, GPay and other non-banking apps still hold the majority of the transactions. Sometimes you might encounter a rejected transaction. One reason for this could be your daily limit.
You can only send and receive a certain amount of money per day, as well as a monthly limit. You can set limits based on the app that you use, your bank or UPI.
There are many possible reasons why Daily Limits can be exceeded
You try to send Rs1,00,000.00 in one day through all UPI app. You try to send more money than 10 times per day through all UPI app.
You can ask for more than Rs 2000 from your friend.
These are the problems you need to solve.
You can send additional money by waiting until the next morning or you could do it immediately.
Or, you may request a lower amount
How to proceed if your bank limit is exceeded
Try a new bank account if your UPI limit is not met. You might be limited by the amount you are allowed to send and receive at your bank. For more details regarding the failure of a transaction, you can contact your bank.
Some transactions may be flagged to ensure fraud prevention. Contact the UPI support team if you have trouble with a transaction or believe you have not reached the limit.
Fail: UPI cannot handle transactions of less than Rs 1 An error message will be displayed.
The circular states that if money taken from a customer’s account is not refunded to it within the time frame specified, the bank will be liable for Rs 100 per day.
You can file a complaint against your service provider, or any system participant, if they do not respond within the specified timeframe. You can take the matter to The Ombudsman Scheme to Digital Transactions to escalate it if they do not resolve the problem within a month.
Here are some common solutions that may be helpful in processing UPI transactions. It is possible that the server has been down or busy. Please wait. The App could be down or busy so please wait. Make sure to update the app that you use for transactions.
An individual can only make a certain number of UPI transactions in 24 hours. The banks usually limit UPI payments to 10 per day. 22-Nov-2021
Although the transaction was unsuccessful, the money was deducted from your bank account. Banks typically take 3 business days for money to be added to your account. Wait for the bank to reverse your transaction. To verify that your transaction was reversed, please refer to your bank statement.
UPI is an acronym for Unified Payments Interface. It’s a digital platform which allows you to send and receive money directly from various banks via your smartphone. UPI makes life easier for many of us. This payment method is one of the most popular digital ones. Sometimes, the ease of payment can lead to easier payments.