How to increase the UPI transaction limit in HDFC?

The technology has changed the face of society. Digital transactions have become so popular and convenient that no one wants to go to the bank to make or receive any payment. Due to its convenience and ease, the Unified Payments Interface (UPI) has become very prevalent, which is why UPI has become the backbone of digital transactions in India. UPI is considered one of the most popular mediums for online transactions.

UPI is a platform that allows transactions between different bank accounts from any participating bank. UPI combines multiple banking functions, smooth fund transfers, and merchant payments on one platform. It also fulfills other financial requests based on individual needs and convenience. Every bank offers its UPI application for Android, Windows, and iOS mobile platforms.

Also Read: How to Increase the UPI Transaction limit in SBI?

Advantages of setting a transaction limit.

The banks are bound to follow the rules and regulations set by NPCI. According to the NPCI,  the banks can’t go beyond the limits set by the NPCI, which are up to Rs. 1 lakh, while certain banks set limits for weekly and monthly transactions. Some financial institutions or banks fix UPI transaction limits according to their infrastructure and technical capabilities, but cannot exceed Rs. 1,00,000. You also have the option to set your limit to control your financial expenditure. There are a few factors that may force your banks to set a decreased transaction cap:

• Risk management: Every bank has the authority to fix its UPI transaction limits, which depend on its risk management strategies.
• Technical complications and infrastructure: Setting transaction limits is beneficial for controlling technical complications. Due to the operational constraints and technical capabilities of a bank’s UPI system, transaction limits need to be set. Banks with an advanced IT infrastructure may offer higher transaction limits than those with less strong technical systems.
• Client-based setting: Banks may impose different limits based on your account type. It can be set according to your transaction history. Premium account holders or those with a long-standing relationship with the bank might have higher limits than regular or new customers.
• Control over fraudulent activities: Few banks like to fix the reduced UPI transaction limit to minimise the high risk of fraud. Due to high transaction limits, customers can be targeted for fraudulent activities, so banks often keep the limits lower to reduce potential risks.

How to increase the UPI transaction limit in HDFC?

HDFC Bank follows the transaction limits norms for the Unified Payments Interface (UPI) as set by the National Payments Corporation of India (NPCI) and the Reserve Bank of India (RBI), like other banks. The UPI limits are set considering account type, customer profile, and internal bank policies.

HDFC Bank sets specific limits on UPI transactions, controlling both payments sent and received. At HDFC Bank, it is essential to have flexibility according to customers’ satisfaction to handle finances smoothly. Through HDFC’s net banking platform, you can quickly fix your account’s transaction limit online, known as the third-party transfer (TPT) limit.

With just a click, you can set your transaction limit anywhere between Rs 1,000 and a maximum of Rs 1,000,000. The maximum daily limit for HDFC UPI transactions is either Rs. 1 lakh or up to 10 daily transactions, including both person-to-person (P2P) and person-to-merchant (P2M) transactions. The new customers can transfer only up to Rs. 5,000 during the first 24 hours.

The limits for UPI transactions were usually set based on factors such as account type, customer profile, and other criteria evaluated by the bank. To go beyond Rs 1 lakh, some situations have some terms and conditions. In case of hospitalisation or making payment for education, this limit is exceeded to Rs. 5 lakhs. There are some steps to be followed for increasing the UPI transaction limit in HDFC Bank:

Online method to increase transaction limit.

• Open the HDFC website and log in with your profile ID and password.
• If you have logged in to your account and opened your account page, click on the option of “Third Party Transfer.”.
• Then click on the option of ‘Modify TPT Limit’.
• Choose the “Increase” option and click this button.
• Select the desired TPT limit from the drop-down menu.
• Lastly, an OTP is sent to your registered mobile number for verification.
• Enter that OTP in the given space.
• After verifying your identity, the limit will be increased per your requirement.

Offline method to increase the transaction limits:

• If you want to go for the offline method, you will have to visit the nearest HDFC branch.
• Take a “TPT” limit increase form in the bank branch and fill it out with all the required information.
• You are required to attach a photo ID, so fix the photo in the space provided in the form.
• After completing all the formalities, submit the form to the bank representative for further processing.

Conclusions

HDFC Bank’s Net Banking platform is so systematic and easy to handle that it gives authority and versatility to its customers. It helps manage their “Third Party Transfer” limits, guaranteeing a smooth and safe online banking experience. If you like online transactions, which are so convenient, or you like the offline services of HDFC, the bank is dedicated to serving you with its excellent financial experience.

FAQs.