December 4, 2024 · 10 mins read
Santosh Kumar
UPI payment has made our financial activities so much easier and more convenient. Payments are at the tip of your fingers and you do not need to line up in queues whether you want to withdraw money at an ATM, deposit money via bank, transfer money to a different bank account or make payments to shops and for services. UPI has made payments as simple as the click of a few buttons on your smartphone. Gpay is one such UPI payment platform that is used by millions of Indians across India. But with financial activity comes financial responsibility as well. UPI has mandated specific transaction limits for UPI transactions. This article will help you understand the transaction limits placed on payments via Gpay.
Before diving into the Gpay transaction limit, first, let us know about Google, which is conveniently known as Gpay-
Google Pay, known commonly as Gpay, has established itself as one of India's most widely used digital payment platforms. Launched in 2017, it has since become a widely accepted mode of payment, and its name has become synonymous with the growing popularity of UPI-based payment platforms. Gpay has become a household name that is widely used by individuals as well as businesses to do online transactions. GooglePay is Google's own UPI payment platform and operates on the principle of UPI.
This article will examine how Gpay transactions work and the maximum Gpay transaction limit set so that users can get a general idea and plan their transactions accordingly.
The basic concept of Gpay is that it works on the principle of UPI, or the United Payments Interface, which again comes under the purview of the National Payments Corporation of India(NPCI). So, in relation to that, the maximum transaction limit is also set as per the regulations set by UPI under NPCI.
Gpay allows users to make different types of transactions, and each type has a different transaction limit. These limits are generally based on your account type, transaction type, and other relevant details.
Let us take a closer look at the different types of transaction limits on Google Pay-
According to the rules set by UPI, the maximum Gpay transaction limit for one UPI account through Gpay is set at 1,00,000 per day. The maximum amount of money you can send through a single transaction is INR one lakh. This is for all peer-to-peer transactions, which allow individuals to send and receive money directly from one individual to another. The daily transaction limit is also set at 1,00,000, which means you can make multiple transactions in a single day, but the cumulative amount should not exceed One lakh in 24 hours.
Apart from this, the banks have set certain bank-specific transaction limits for UPI transactions through third-party UPI payment platforms like Gpay. Listed below are a few banks and their specific limits-
1. Axis Bank- allows 1,00,000 per day.
2. ICICI- allows only up to 50,000 per day, with 25,000 being the highest amount that can be sent in a single transaction
3. HDFC- allows 1,00,000 in one day and 50,000 per transaction
4. SBI- allows 1,00,000 per day.
5. Allahabad Bank- 25,000 at a time and 1,00,000 in one day.
6. Bank of India – 10,000 at a time and 1,00,000 in a day
7. Canara Bank- 1,00,000 at a time and 1,00,000 in a day
8. IDFC Bank- 1,00,000 at a time and 1,00,000 in a day
9. Indian Overseas Bank- 50,000 at a time and 1,00,000 in a day
10. UCO bank- 1,00,000 at a time and 1,00,000 in a day
*Please note that these transaction limits are only for UPI-related transfers and do not apply to other types of transactions. To be well-informed and aware, it is always best to check with the concerned bank for precise details about UPI transactions and the Gpay limit.
Gpay has assimilated into how we shop and pay for goods and services. While using Google Pay for such transactions, the merchant or the merchant's bank may set the transaction limit. Some businesses may set an upper limit for the amount of money that they can receive via Gpay. Sometimes, the merchant may also set the transaction limit or the payment gateway that the merchant uses. This is mostly done to avoid high-risk payments or payments involving higher amounts of transaction money.
Among other things like shopping, transferring money, etc.- Gpay has also become a popular and efficient channel for paying bills like insurance, phone bills, electricity bills, instalment premiums, etc. Individuals who make use of Gpay for making such recurrent payments, these type of transactions are also under the regulations of UPI. They will also be subject to the same transaction limits. You can set up timely payments, but if in an instance where you have exceeded your daily limit, you will have to wait 24-hours to be able to pay your utility bill via Gpay.
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There is a feature in Google where users can keep a certain amount of money as pool money for making payments, shopping, and transferring funds. there is also a limit set for how much of the Google balance fund you can withdraw at a time. The limit is set at 1,00,000, which means that even if you have a balance amounting to more than One lakh on your Gpay balance, the Gpay transaction limit dictates that you will only be allowed to withdraw a maximum of one lakh from your own account.
For security reasons, Gpay does not allow transaction requests for more than INR 2000 via UPI, which means that if you are the one requesting money, you will not be allowed to request more than Rs. 2000 at a time.
There is an exception to the 1,00,000 per day rule. UPI has increased the Gpay transaction limit in exceptional cases, which include:
1. Payment of Taxes via Gpay
2. Payments made to Medical Institutions like Hospitals and Clinics
3. Payments made to Educational Institutes like Schools, Colleges and Universities
4. Payments made via Gpay to RBI-specific Retail Direct Schemes
In these cases, users are allowed some extra transaction limit for more flexibility, as these are special cases that sometimes require emergency fund transfers.
Throughout all of this, we may be left wondering if the transaction limit can be dodged by using multiple bank accounts as well as different UPI payment applications. For example, your Gpay transaction limit may be reached, but can you move over to other UPI apps and continue your remaining transactions on that platform? The answer would be no, and here is why. Well, since your UPI is linked to your phone number, that becomes your unique identification, which is how UPI tracks your daily transactions. So, the limit applies to all UPI payment platforms regardless of whether you use different bank accounts or UPI applications.
Now, let us understand what kind of transactions fall under the Gpay transaction limit per day.
As per the guidelines established by UPI, all transactions made during a 24-hour period come under the Gpay transaction limit. This ranges from money transfers to pay for goods and services, recharges, utility bill payments, and any and every transaction involving money sent from your account through UPI. Your cumulative UPI transaction per day cannot exceed 1,00,000.
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While using Gpay as a form of payment, your daily limit can be exhausted in multiple ways.
1. Firstly, if you have reached the 1,00,000 mark while spending money via Gpay for one day, then your Gpay transaction limit per day has been reached, and you can no longer spend more money.
2. Secondly, if you have already tried to send money more than 20 times within 24 hours across all your UPI payment platforms, that also means your Gpay transaction limit per day has reached its maximum.
3. For first-time users, Gpay has set a cap of Rs. 5000 only, which is the transaction limit. After an initial transaction and a certain period of waiting time, you can move on to the regular transaction limit of 1,00,000 per day, but for the first 24 hours, your limit is set at a maximum of INR 5000.
Since UPI sets the Gpay transaction limit, there are no workarounds for the rule, and it is for everyone to follow. If you find yourself in a similar situation, the best thing to do would be
1. Wait for the 24-hour period to end and continue with your transaction the next day after the one-day window has expired.
2. In case of emergencies, you can opt for alternate payment methods like direct bank transfers or paying via credit or debit card.
3. The third option is to request an increase in your Gpay transaction limit. This can be done through the help of your bank. You need to verify your account details with the bank; then the next step would be to request a transaction limit reset through the Gpay application or the website. A Google customer care personnel will assist you with your request. Once your account has been reviewed and your details verified, your request for a transaction limit increase will have a chance of getting approved, and you can enjoy the benefit of an increased upper limit on Gpay.
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UPI payment applications like Gpay have definitely revolutionised the way online money transactions are done. From shopping for basic needs like food, paying utility bills, paying taxi fares, online shopping, and sending money isn't an avenue left where Gpay does not work. Gpay has become one of India's most popular UPI payment platforms, from mega-urban metropolitan cities to rural areas. However, there are certain limitations to using Gpay. As discussed in the sections above, users would be better placed if they knew their daily transaction limits so that they don't have to face unnecessary hiccups while sending money or paying online. It is best used with a mindful approach and with proper security measures in check. This UPI payment becomes more straightforward, hassle-free and efficient – as they are meant to be.
Is there a limit to using Gpay for money transfers?
Yes, there is a limit to the amount of money you can transfer using Gpay.
Can I make more than 20 transactions in one day on Gpay?
There is a limit on the number of transactions one can make on Gpay per day. Normally, the limit is set at 20.
Can I make use of Gpay to transfer 50,000 to a different bank account?
You can use Gpay to transfer 50,000 to a different bank account. However, depending on your bank account, some banks do not allow for a single transaction of 50,000, so you might have to break down the amount and send it through multiple transactions.
What is the maximum transaction limit for Gpay?
The maximum transaction limit for Gpay is typically set at one lakh per day.
Can I send money to my own bank account via Gpay?
Yes, sending money to one’s own bank account is possible through Gpay. You can do it either through UPI ID, VPA or bank account details.
What is the highest amount of money that I can send through Gpay?
The highest amount of money that can be sent through Gpay is Rs. 1,00,000, which is also the transaction limit. However, it is advised to check with your concerned bank, as some banks have their own transaction limit for one-time money transfers made through UPI applications.
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