HDFC Bank UPI has always been at the forefront regarding digital banking and adopting the latest technological features in its banking system. The HDFC bank UPI is reputed for providing its customers with convenient digital tools that make their banking experience more enjoyable.
Continuing those efforts, the Housing Development Finance Corporation Bank UPI entered the UPI space in 2017. Housing Development Finance Corporation Bank UPI was initially launched in collaboration with Chillr App. The UPI interface allows customers to go cashless and conduct transactions using smartphones only using Virtual Payment Address (VPA).
VPA is a type of virtual identity that can be created while registering for HDFC UPI service, and this virtual address enables users to send and receive money without providing other bank details.
What is HDFC UPI?
HDFC UPI interface allows customers to transfer funds through HDFC UPI ID/VPA to the beneficiary account in real-time. This transfer can be done without using bank details like account number, IFSC code, etc. HDFC Bank UPI users must download the HDFC Bank UPI app on their smartphones through Google Play Store or Apple Store for their Android or iOS devices, respectively.
The National Payments Corporation of India (NPCI) developed the Payments Interface (UPI) handle name as a portal to facilitate interoperability between banks. It is a one-stop solution to use different bank accounts to transfer from a single app.
It allows all account holders to send and receive money through their smartphones with a single identifier – Virtual Payment Address (VPA), commonly known as UPI ID – without requiring bank account information.
Read More: How to Open a Demat Account Online in HDFC Bank?
How to Register in HDFC UPI?
HDFC UPI registration to transfer funds is quite simple and easy. But before you do an HDFC UPI login, it is essential to get Housing Development Finance Corporation UPI registration first.
Follow the steps given below to register for Housing Development Finance Corporation UPI:
- Download the HDFC UPI app on your smartphone from the Google store
- You can log in with your customer ID and password
- Start the registration process by choosing the VPA name, answering the secret question, and selecting the bank name HDFC.
- Once this is done, click “Next.”
- Press your desired Housing Development Finance Corporation UPI ID or Virtual Payment Address (VPA).
- Now, you must add your bank account, mentioning ATM/Debit card details and the expiry date.
- Now, you must create UPI security.
- This PIN is required to authenticate any transaction using your Housing Development Finance Corporation Bank UPI.
- To generate a 6-digit UPI PIN, you will need your debit card information and UPI registration.
- You are ready to go once you have set your UPI PIN.
- Then you can transfer funds using your HDFC Bank UPI.
How to Send Money Using HDFC UPI?
Following are the steps to send money through HDFC UPI:
- Open your HDFC Bank UPI mobile banking and click on the “BHIM UPI Payment” option on the home screen.
- Tap on “Send Money” and choose from the options to send money
- You can make the payment either through the beneficiary’s UPI ID, account number, and IFSC, or mobile number and MMID
- Enter the asked amount and other details
- Enter a digit UPI PIN and proceed with payment.
How to Receive Money on HDFC UPI?
- Log in to your HDFC Bank mobile banking app.
- Tap on the “BHIM UPI Payment” option on the home screen.
- On the next page, click on the “Request Money” option.
- Enter payee details like payee’s UPI ID, amount, and details.
- Add the expiration period of the initiated transaction and initiate the request.
Limits For HDFC UPI
It is noteworthy that NPCI determines the limit of transactions through UPI:
- For first-time UPI users, the transaction limit is Rs.5,000 within 24 hours of registering for the new service.
- Daily UPI limit for HDFC Bank is Rs. 1,00,000 more
- For specific categories of transactions like capital markets, collections, insurance, and foreign inward remittances, the per transaction limit is Rs. 3,00,000
- The per transaction limit for each UPI transaction is also Rs. 1,00,000.
- For pioneer offering and retail direct schemes, the limit is up to Rs. Rs 4,00,000 per transaction.
Chagares for HDFC UPI
There are no Charges for UPI by HDFC Bank for making HDFC bank UPI Payments. One can make transactions, even on bank holidays.
Benefits of HDFC UPI
1. Virtual Address
A VPA is given to everyone registering for the app. Using it, anyone can easily send and collect money. There is also a provision to create multiple VPAs to secure the account.
2. Easy Transfers without Bank Account Details
There is no need to add a beneficiary or provide bank account details to initiate a money transfer through this payment method. One can easily transact using VPA at very high speed without any hassle.
3. Safe and Secure
One cannot use this app without providing the M-PIN.
For all transactions through the app, you must enter this PIN, providing this type of payment mechanism with added security.
4. Instant Transfers
This payment platform enables users to make seamless money transfers and collection requests on a 24/7 basis. You can perform transactions anytime, and there are no restrictions related to bank holidays, etc.
Features of HDFC UPI
The features offered by HDFC Bank UPI are given below:
- There will be no charge to avail of UPI services.
- The HDFC Unified Payments Interface service can be availed at any time of the day.
- Option to pay the merchant in just two clicks using a QR code.
- 21 transactions are allowed in a day.
- No need to add any beneficiary before making a payment.
How to Set HDFC Bank UPI for HDFC Bank Customers?
- First, you must create a “BHIM/UPI ID.”
- Then download the Mobile Banking App from HDFC Bank and select the “BHIM UPI Payment” button.
- An automatic SMS for device binding and security installation is generated and sent to your mobile phone.
- Now you can create a “UPI ID” of HDFC Bank is @hdfc bank.
- So, you can create a UPI ID that is similar to 9xxxxxxxxx@hdfc bank (using your mobile phone number).
- Select the “Housing Development Finance Corporation Bank” account number you want to link to the UPI ID.
- Now, you have to create a “UPI Security PIN.”
- This PIN is required to authenticate any transaction using your “Housing Development Finance Corporation Bank UPI.”
- To generate a 4-digit UPI PIN, you will need your debit card details and Unified Payments Interface registration.
- Once you have set your PIN number, you are ready to go to transfer funds and make bill payments using your Housing Development Finance Corporation Bank UPI.
How to Set HDFC Bank UPI for Non-HDFC Bank Customers?
- First, you create a “BHIM / UPI ID.”
- Download the mobile banking app from Housing Development Finance Corporation Bank and then click on the “BHIM UPI Payment” button.
- Your mobile phone automatically generates and sends an SMS for your device’s security.
- Now you can create a UPI ID using the HDFC Bank UPI is @hdfcbank.
- Then you can create a UPI ID that is similar to 91xxxxxxxxx@hdfcbank (Using The Number of Your Mobile Phone).
- Then you choose the HDFC Bank account number to link with the UPI ID you want to get.
- Create the Unified Payments Interface security PIN you need your debit card info & UPI registration to create the 4-digit UPI PIN.
- Once your UPI PIN is set, you are going for it.
- After setting the UPI PIN you can transfer funds easily and make bill payments directly using your Bank UPI.
Fund Transfer or Bill Payment Through HDFC Bank UPI for Non-HDFC Bank Customers
- Non-HDFC Bank customers will still transfer funds and make payments through the HDFC Mobile Banking app.
- However, they do not need to log in to the app to perform these transactions.
- Open the HDFC Bank Mobile banking app.
- Click on the “BHIM HDFC Bank” icon at the bottom left of the screen.
- This feature is only available for Android users.
- Enter a digit app password to authenticate your login.
- Click on “Make Payment.”
- You can choose to pay through,
- Unified Payments Interface ID of the beneficiary.
- Account number and IFSC code.
- Enter your created Unified Payments Interface PIN number to complete the transaction.
- Both parties will receive an SMS confirmation upon completion of the transaction.
Conclusion
Promoting the development of an inclusive financial system, HDFC Bank has become the most preferred payment method for many Indians. You can view your previous transactions in the ‘Transaction History’ tab under ‘UPI Payments.’
HDFC Bank is one of the leading banks in India with the highest number of active credit cards. Nevertheless, the bank has introduced another business credit card, i.e., HDFC Bank UPI RuPay Biz Credit Card. This credit card has existed with the motto of credit since its existence.
This credit card has all the features to make your credit journey hassle-free. There are many benefits that this credit card can provide to your business, and the main thing is that this card can help you meet daily expenses quickly. Housing Development Finance Corporation Bank UPI RuPay Biz Credit Card is among the most trusted business credit cards.
