- A daily limit of Rs 20,000 is applicable on BHIM app transactions
- Unified Payment Interface transaction volume rose over 10% in July
- Users can send/receive money using mobile No., payment address or Aadhaar
BHIM payments are made using the mobile number registered with the bank - this means you must use the mobile number registered at your bank. The payments support even accounts not enabled for mobile banking.
Here are some key things to know about the BHIM app:
What you need
BHIM app requires a bank account supporting UPI payments and the mobile number linked to the bank account.
"Your bank might however levy a nominal charge as UPI or IMPS transfer fee which is not under our control. Please check with your bank for more details," according to the NPCI.
Why use BHIM
The BHIM app supports the following types of transaction, as per the NPCI website:
Request or Send Money via Payment Address
Send Money to Aadhaar Number
Request or Send Money to Mobile number
Send Money through MMID (Mobile Money Identifier, a seven-digit unique number issued by the bank)
Send Money through IFSC code, Account No.
How to use BHIM app
To start using the BHIM app to send/receive money and use its other features, you need to register on the app to set up a four-digit passcode and a UPI-PIN or UPI Personal Identification Number. UPI-PIN is a code/password a user creates during first time registration on the BHIM app. Quoting of this code is a must to authorise all bank transactions on the BHIM app.
Go to the app by entering your 'Passcode'. Under the 'Transfer Money' section, choose 'send' from the three options displayed.
On the app, one can send money to another BHIM user using his or her phone number.
By doing so, your bank account set as default gets selected at this stage.
Enter the UPI-PIN once again and send money.
Users can also send money by scanning a QR code and pay via the 'Scan & Pay' option.
Select 'Request Money' from the main menu of the BHIM app.
Enter or select the sender's mobile number, Payment Address or Adhaar number.
Enter the amount and proceed.
This transaction will remain pending until the payment is received. You will be notified when the money is transferred to you. You may also request money by sharing your QR code. Goto Home Screen->Profile->Choose account to get QR code, according to the NPCI website.
Send money to non-BHIM user
The BHIM app also enables payments to those who are not on the BHIM network. Payment can be made via IFSC (Indian Financial System Code), account number or mobile number.
Multiple bank accounts?
The BHIM app supports linking of one bank account at a time. At the time of account set-up, you can link your preferred bank account as the default account. Users can link link another bank account using the 'Bank Account/Choose Change Account' option.
This is the address which uniquely identifies a person's bank account on the BHIM app. The payment address is in the format xyz@upi.
UPI is an instant payment system developed by the NPCI or National Payments Corporation of India, a Reserve Bank of India-regulated entity which acts as an umbrella body for all retail payment systems in the country.