UPI 2.0

[Sparker0i]

Expected one in digital India, we have to pay tax + transaction charge for using our own money digitally. In cash transaction we dont have any charges. They are unnecessarily sucking our money.

IIRC, isn't this against the UPI guidelines which say 0 bank charges?

 

[Sparker0i]

In ICICI, there are no charges, but transaction limits are different. It's 20000 per day on 3rd party apps and 1 lac on iMobile.

My account was upgraded to silver account in ICICI Bank. My limit on other UPI apps is ₹100k

 

[Sarkar]

That's why most PSU Banks simply suck due to their unimpressive offline, digital services and buggy apps.

I have used United Bank of India's own UPI app alongwith SBI 's own UPI app. Both have bare bones features.

Just take a look at Phonepe/ Google pay, which are both feature rich and versatile.

Phonepe is promoted by Yes Bank and Flipkart.
Google has tied up with SBI, ICICI, HDFC Bank, etc for their Google pay.

PSU's target is financial inclusion and give banking access to all Indian whereas Private banks target is making profit. So PSU banks does the basics very right, they reach every remote part of country whereas private banks only centered towards cities/towns. That's why PSU's operating cost is higher so they invest less on technology i think.

 

[Siva]

My account was upgraded to silver account in ICICI Bank. My limit on other UPI apps is ₹100k

Did you try transferring more than 20k on Phone Pe or Google Pay?

 

[Sparker0i]

Did you try transferring more than 20k on Phone Pe or Google Pay?

I haven't, but that is what the relationship manager at ICICI told me when my account was upgraded

 

[goodlord]

What I was thinking too..

IIRC, isn't this against the UPI guidelines which say 0 bank charges?

 

[hike]

Did you try transferring more than 20k on Phone Pe or Google Pay?

We can transfer Upto 1 Lac. in a day and daily transection limit depend on bank. SBI allowed 3 transection on zero balance student account.
Apart from this in one transection how much amount you gonna spend also depends on your bank.
Like in Axis I can transfer 50K at a time but PNB allow me only 20K per transaction. Similarly, BOB, Airtel, PayTM payment bank, Kotak, etc perform same. But, all my Banks allowed me 10 transection in a day.

 

[Siva]

I haven't, but that is what the relationship manager at ICICI told me when my account was upgraded

Try and let me know please.

 

[Sparker0i]

Try and let me know please.

Ok I'll try

Edit: can't transfer more than 10k on my account. Need to talk to the relationship manager regarding this

 

[Sarkar]

We can transfer Upto 1 Lac. in a day and daily transection limit depend on bank. SBI allowed 3 transection on zero balance student account.
Apart from this in one transection how much amount you gonna spend also depends on your bank.
Like in Axis I can transfer 50K at a time but PNB allow me only 20K per transaction. Similarly, BOB, Airtel, PayTM payment bank, Kotak, etc perform same. But, all my Banks allowed me 10 transection in a day.

P2P transaction is capped at 10 as per NCPI but P2M can be more than 10