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  • Category: Government

    What is BHIM UPI transfer?


    Have a query about BHIM? searching for detailed information about this app, its usage and its advantages and disadvantages? Here, on this Ask Expert page you can get all the information about this app.

    I want to know about the concept of BHIM UPI money transfer. How is that useful for customers?
    What are the advantages and disadvantages of this?
  • Answers

    7 Answers found.
  • BHIM UPI transfer is mobile application that allows anyone to transfer the money using "alias", "phone number" or "bank account number". Think of this as similar to paytm but more focused on the identity and instant transactions.

    Even paytm and other wallets online have adopted this protocol for sending money online. BHIM UPI is basically a payment gateway that works with mobile app, shopping sites and also can work like IMPS and NEFT. It's 24/7 payment gateway. So no specific bank restriction as long as you have money to send and bank account to receive.

    All you need is mobile number and smartphone which can have the BHIM App. By default BHIM UPI makes it's own UPI address. If you are registered with any modern non PSU banks then they have their own apps which works just like BHIM so no separate BHIM UPI app download is required.

    Advantages

    1. Quick money transfer
    2. Support phone number and alias system.
    3. Support bank account number

    Disadvantages
    1. Not reversible
    2. Daily limit for transfer depending on bank and UPI platform limit

  • BHIM. Bharath interface for money is a mobile app.You can connect your bank account to this app in your mobile by giving a password. you can send and receive money through this app with other members who have registered in this app in their mobiles.
    You can also refer your friend to this app. you can also set payment reminders in this app.
    You can have a list of beneficiaries in this app.

    drrao
    always confident

  • BHIM is an application which enables one to send or receive money using mobile number or UPI (Unified Payment Interface) identity.

    Any person who is having a bank account and debit card and registered mobile number can use it.

    Using BHIM app one can create his VPA (Virtual Payment Address) address. Once VPA is created it can be used for financial transactions. One has to make a UPI pin number to access it.

    If one wants to use BHIM -UPI in his mobile then the steps are -
    1. Download BHIM from playstore and install in the mobile.
    2. Select your language.
    3. Register mobile number in BHIM.
    4. Add bank account.
    5. Set UPI pin to transact.

    BHIM is a 24 x 7 application. You can use it anytime.

    One need not to remember account number or IFSC code or net banking ID or password etc for making transactions through this UPI protocol. Only thing is other person should also be on UPI.

    Knowledge is power.

  • BHIM is BHarat Interface for Money, this app is a government (National Payments Corporation of India) developed app. Mobile transactions are increasingly done and if you have used Paypal, then it is very easy because the concept is the similar.

    First you have to download the BHIM app, then create a a virtual payment address (VPA) or the Unified Payment Interface (UPI) which is like your personal email for the mobile transactions. The you generate a PIN like we use for our credit cards.

    During this process, your mobile number and UPI address is linked to the bank account selected and then use it to send and receive money.

    Advantages
    Send and receive without the need to enter bank details or other codes.
    No fixed working hours, you can use the app anytime.

    Cons/ Issues
    1.The bank in which you have the account MUST support UPI
    2.Your bank account must be registered for mobile banking and you need to use the same number for mobile banking.
    3.The person (seller, merchant,organisation) whom you intend to send money or receive money from also should have a valid UPI address or atleast an Aadhaar card for individuals or a QR code to scan.
    4. OTPs often have errors when people have dual phones.
    5.Many people have reported transaction declined errors, when this happens you need to close the app, free up some space (RAM) and then re-launch the app.
    6.You need to have the same device (mobile phone) that you have used for registration, if you change your mobile hand set, then you need to re-verify once.
    7.If you find that transaction is successful but money has not come into your account or the account that you have sent it to, then you need to wait for 48 hours ( 2 working days).
    8. If you make one off payments to charity organisation or make a donation, then potentially you can get payments requests from them ( similar to a spam message)

  • BHIM is a website and mobile app which is a type of payment. BHIM(Bharat Interface for money) is an NPCI(National Payment Corporation of India) based on the UPI( Unified Payment Interface). By using this site or app we can send, receive or transfer money instantly. This was launched by our Hon'ble Prime Minister on 30 December 2016. The main purpose of this app is to forward cashless transactions.
    This app is available in most of all the languages and it is easily available in google play app store. This site supports all Indian banks which use that platform.
    Benefits of this site.
    Bhim allows the user to send or receive money from UPI payment address or to non-UPI based accounts. While in the process it scans our account number and IFSC code. Its similar to mobile wallets like PayTM, Paypal, Airtel Money etc. This app holds the money but in BHIM we can transfer the amount from one account to another account instantly at any time any day anywhere. This app allows the user to check their account balance.
    The user can create their own QR code for a fixed amount of money, which will be helpful in buyer transaction. The user can have more than one payment address. If aadhaar number is verified then BHIM app will not require any biometric authentication with the bank.
    Right now there is no transaction fee charged up to 1 lakh or more. If our debit card of daily transaction limit is linked to the BHIM app then transfers through BHIM app are also subject to the same limit. Initially, it supports 13 languages.

  • BHIM (Bharat Interface for Money) UPI(Unified payment interface) is a fast, secure and we can do reliable cashless payment. The app is made by National payment Corporation of India. The app is interoperable is with other UPI applications and bank accounts. The big benifit of the app is you can check your account balance and transaction in keypad cell phone just by dialing *99#. It works only if number is linked with the bank account. You can send money or recieve money from friends and family through a mobile number or payment address. Money can also be sent to non UPI supported banks using MMID and IFSC code. You can collect money by sending a request and reverse payments if required. You can create a custom payment address in addition to your phone number. Maximum Transaction limit is Rs 10000 per transaction and 20000 within 24 hours. You can also scan a QR code for faster entry of payment addresses.

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  • BHIM is a UPI based payment system using which we can transer money.
    Using this BHIM application
    * We can send and request money
    * We can pay bills on merchant websites by UPI
    * We can book flight tickets and we can even recharge our mobile numbers.
    And main thing is BHIM is not a money wallet and it is only a payment application which allow us to make instant money transfer.
    And maximum we can an amount of ? 20,000/- per day and this BHIM application is available in 13 Indian languages.
    And we can use this application outside India to send and receive money but NRO and NRE accounts cannot be used for this purpose.
    We can send money by using one of the below options using BHIM application :
    * Mobile number which is registered on UPI
    * Aadhaar number which is linked to bank account
    * VPA which is registered on UPI
    * Bank account number and IFSC code.


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