No Bank Charges on UPI payments up to Rs 2,000

As per section 10A of the Payment and Settlement Systems Act, 2007 (51 of 2007), the Central Government has prohibited banks and system providers from imposing, directly or indirectly, any charges on a person making or receiving payments using debit cards powered by RuPay and UPI transactions up to Rs 2,000.

Official Notification from Govt

Regular bank-to-bank UPI (Unified Payments Interface) transactions up to ₹2,000 are completely free for users and exempt from bank charges under a recent government update.

Charges for Individuals

• Personal Transfers: Sending money from your bank account to family or friends (Peer-to-Peer) is 100% free.
• Small Payments: Payments made to shops or businesses (Peer-to-Merchant) up to ₹2,000 have no direct or indirect charges for the buyer.
• Daily Limits: Most banks have set a daily transaction limit of ₹1 lakh for regular transfers.

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