According to the National Payments Corporation of India (NPCI), banks can set their own UPI transaction limit per day and month. Similarly, banks also offer the customer to set their UPI transaction limits for safety purposes. Hence, this facility is extended to the customers of Union Bank, even to the customers of all banks in India.
So, if you are a Union Bank of India customer and do a lot of UPI transactions, then it will be beneficial and safe for you. Here, the transaction limit in Union Bank is Rs.100,000/- per day as in other banks.
You can set a limit according to your daily transaction activity. If you feel this is more than enough and set your transaction limit, Union Bank allows you to do so.
But, to use the UPI functions, you must register your mobile number with your bank account. Also, you need to install a mobile application of Union Bank from the Play Store.
More details are given below:
Why do you need to set your UPI Transaction Limit?
Over the years, the use of UPI has increased significantly in India, and fraudsters try to fraud. But, there is no doubt that UPI is as secure as other payment methods.
Still, we have come across many cases; Recently, an employee of our company has been a victim of fraud of Rs.45000/- through UPI apps.
As per the latest banking data, most users do not transact large sums of money through UPI. I also usually set a limit of Rs 25000/- for UPI transactions; if necessary, I increase the limit immediately.
So, the best practice is to set a limit on your UPI transactions and be safe. However, familiar users are not required to set these criteria, but they may differ from person to person.
Steps to Set Limit through the Union Bank mobile app
You can set your transaction limits in two best ways, but, the mobile app is the best and easiest way. Below, we have shared a step-by-step guide through the mobile app of Union Bank of India.
Step 1: Download and install the mobile app (nxt) of the Union Bank of India.
Step 2: Open and select your language and “Continue“. On the next screen, tap on “ACTIVATE“.
Step 3: Select the SIM number registered with your bank account. It will verify and create a four-digit MPin for login.
Step 4: Now login with your MPin, and tap the “BHIM UPI“. Create your UPI ID and tap on the “Proceed” option.
Step 5: On the next screen, select your Union Bank and tap on “Proceed“. Your UPI ID will be generated successfully.
Step 6: Now, tap on the “Manage” option and create your BHIM UPI Pin. You must enter your debit card’s last six digits, expiry date, and ATM PIN. Tap on “Proceed“.
Step 7: You will get an OTP, enter a new UPI PIN, and confirm the same.
Step 8: On the home screen, select the “Manage” option. Next, tap on “Set Transfer Limit“. You will get many options to set the transaction limit.
Step 9: Select UPI, and set the UPI transfer limit by moving the slider. Tap on “Proceed”. On the next screen, enter your transaction PIN (UPI PIN) and Submit.
That’s it, Your UPI transaction limit will be set successfully in the Union Bank of India.
See also – SBI UPI transaction limit set
Set limits through Internet Banking
Besides, mobile banking, users can also set limits through internet banking. Visit the official website of Union Bank www.unionbankofindia.co.in and follow the below steps.
Step 1: Log in with your username and password. Click on the “Personalize Limits” tab on the home page.
Step 2: Select the effective transaction type, channel type, start date and last date, Click on “Continue“.
Step 3: Enter your transaction password and one-time password on the next page. Click on the “Submit” tab. No more needs to be done; your transaction limit will be set in your Union Bank of India successfully.
Watch this video (Hindi):
A: The full form of UPI is the Unified Payments Interface.
A: The maximum transaction limit per day through UPI is Rs.100000/-.
A: Yes, you can set a UPI transaction limit in Union Bank through net banking, mobile banking and other modes.
A: To create a UPI PIN in Union Bank of India, you need to enter your debit card’s last 6 digits, expiry date, and ATM PIN.
A: Yes, you can create a UPI ID in a few clicks.
The UPI transaction limit set is a best practice for users as it is safe, and avoids losing a huge amount in case of fraud. All Indian banks provide this facility for the users and they can do it through mobile and internet banking.