HDFC Bank customers alert! UPI terms and conditions changed: All you need to know
Zee News
It is important for users to know that there is a daily transaction restriction of Rs 1 lakh or ten transactions per day, which is calculated on a 24-hour basis. The 10-transaction limitation only applies to fund transfers and does not apply to bill payments or merchant transactions.
New Delhi: These days, the Unified Payment Interface (UPI) is the preferred method of transaction. With UPI's growing popularity, users should be aware of any modifications to the terms and conditions of use. HDFC Bank, India's largest private lender, recently announced that it had amended its UPI Terms & Conditions.
The bank has a ticker running on the homepage of its website that reads, "Our UPI Terms & Conditions have been changed. Please read our updated terms and conditions by clicking here." Bank customers that want to use UPI to make payments can do so.
Users should be aware that there is a daily transaction restriction of Rs 1 lakh or ten transactions per day, which is calculated on a 24-hour basis. The 10-transaction limitation only applies to fund transfers and does not apply to bill payments or merchant transactions.
Furthermore, during the first 24 hours on an Android phone and 72 hours on an iPhone, new UPI users or those who have recently changed their device/sim/mobile number will only be able to transact up to Rs 5,000.
Here’s what HDFC Bank's UPI T&C says:
