Indian Bank Unified Payments Interface
Indian Bank is one among the banks in India that provides Unified Payments Interface (UPI) services. The facility can be used by downloading the Indian Bank UPI app through Google Play store. This service is available for all customers. Through this facility, money can be sent and received through smartphones.
A user can link more than one bank account on the app and seamlessly transact using any of the accounts. To use this service, one has to first download the app and create a virtual address, expanded as Virtual Payments Address (VPA). Fund transfers can be made using only this VPA and there is no need to provide other bank details such as account number or IFSC code, unlike other modes of fund transfer such as IMPS or NEFT, etc.
Indian Bank UPI Daily & Per Transaction Limit
Indian Bank sets specific limits on UPI transactions to ensure secure banking. Here’s what you need to know:
- Per Transaction Limit: ₹1 lakh
- Daily Transaction Limit: ₹1 lakh (cumulative across all UPI transfers)
- Number of Transactions per Day: Limited to 20 successful transactions
Note: These limits may vary depending on the type of account or updates in Indian Bank’s policies. Always check the latest limit in your UPI app under “Transaction Limits.”
How to Register for Indian Bank UPI?
- Step 1: Download the Indian Bank UPI app on your mobile phone from Google Play store
- Step 2: Launch the app and tap 'Allow' twice. This will allow the phone to verify the mobile number and access location.
- Step 3: Proceed to click 'Send SMS' for mobile number verification. It is a must to verify the mobile number that is linked to the bank account for UPI registration.
- Step 4: Select the respective SIM to complete the mobile verification process. Tap the 'Proceed' button.
- Step 5: Fill in user information such as name, email id, and choose a VPA and answer the security question and click 'Submit'
- Step 6: Once the VPA is registered, create an m-PIN by entering debit card details
How to Transfer Money Using Indian Bank UPI App
Step 1: Download the Indian Bank UPI app. Then enter the 6-digit pin and login to the account.
Step 2: Click on the 'Pay' option and choose the bank account from which money has to be transferred
Step 3: Select the VPA of the recipient / payee. One can also key in remarks if required.
Step 4: Type in the amount to be transferred and click 'Pay'
Step 5: Enter the m-PIN and hit the 'Submit' button
How to Collect Money Using Indian Bank UPI App
Step 1: Go to the Indian Bank UPI, enter the 6-digit pin and log in
Step 2: Click 'Collect'
Step 3: Key in the VPA of the payer. Write remarks, if any
Step 4: Key in the amount to be received and initiate a collect request. Set a deadline within which the money has to be transferred
Step 5: Enter m-PIN and submit
Step 6: The money will be credited as soon as the payer approves the request to collect money.
Charges for Indian Bank UPI
There are no charges levied by Indian Bank for UPI transactions carried out through the app at present.
Indian Bank UPI Transfer Timings
Indian Bank UPI services can be availed on a 24/7 basis and even on bank holidays.
Benefits of Indian Bank UPI
- More convenient: Unlike IMPS, where one needs to provide bank account details and IFSC code, there is no need to provide anything other than the VPA to carry out transactions.
- Safe: This is a very safe and reliable type of fund transfer system since it is backed by the National Payments Corporation of India (NPCI) and the Reserve Bank of India (RBI). There are many security features and hence there is very less scope of breach.
- Reliable: Unlike other types of fund transfer mechanisms, this is a very reliable and trustworthy type of money transfer method.
- No time restrictions: Unlike NEFT, customers will not have to wait for long hours for the transactions to be settled in batches. UPI works even on bank holidays and hence one can send money or receive money on a 24/7 basis without any hassles.
- Multiple accounts can be linked: The UPI app provides customers the facility to link all bank accounts in one app. Hence there is no need to download different apps for different bank accounts.
Limitations of Indian Bank UPI
Only for Android phones: At present, this service is only available for those using Android phones. The payment interface app is currently not for IoS users. However, the service is likely to be launched on the IoS platform soon.
How to Reset Indian Bank UPI m-PIN
Forgot your m-PIN or want to change it for security?
Steps to Reset m-PIN:
- Open your UPI-enabled app (e.g., IndOASIS or BHIM)
- Go to “Bank Account” > “Reset m-PIN”
- Enter the last 6 digits of your debit card and its expiry date
- Enter the OTP received on your mobile
- Set a new m-PIN.
Check IFSC Code for Top Banks:
Other UPI Related Article
FAQs on Indian Bank UPI
- What information should I share to receive a payment through this app?
One has to only share the VPN to receive money.
- Is it possible to change your m-PIN at any point in time?
Yes. This can be done through the app by going to the change m-PIN section.
- Is it possible to track or view transaction history?
The same can be done online by going to the home screen and tapping 'Transaction History'.
- Is it a must to register to use the app?
Yes.
- Is it necessary to register a beneficiary to initiate a fund transfer through this app?
No. There is no need to register a beneficiary. All one needs to do is transfer funds is to provide the VPA.
- Can a customer link multiple bank accounts with a single VPA?
Yes, this is possible.
- What should a customer do if the bank account is debited but the transaction fails?
In such cases, the money will be directly credited back into the customer's bank account.
- What is VPA?
VPA, expanded as Virtual Payment Address, is like an email ID or virtual ID that is given to all users of the app. It is used as the only identification and it is the only piece of information needed to carry out transactions via the Indian Bank UPI app..
- What is UPI? Expand UPI.
Unified Payments Interface, abbreviated as UPI, is a digital cashless payment system enabled through an Android-based smartphone. The service has been launched by the National Payments Corporation of India (NPCI) and is backed by the Reserve Bank of India (RBI).
- What is an m-PIN?
An m-PIN is a key code or password that is used to login to the app and initiate a collect or pay request. Transactions will not be processed unless this pin is provided.
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