UPI is No Longer Free- Charges Applicable From 1 May 2019

UPI Is No Longer Free –

Upto Rs 5 Per UPI Transaction Will Be Charged From You The Unified Payments Interface, which made transactions and transfers of money so much easier for us, will now come at a cost.
Soon, P2P and UPI funds transfers will be chargeable by some banks and it won’t take long for other banks to implement this rule.

UPI transactions were, up until now the only mode of transfers which were free of charge, but this sudden decision is sure to make a dent in the ease of the much-loved mode of online transactions.

 These charges will be applicable from May 1, 2019.

Kotak Mahindra Levies Charges on Transactions Kotak Mahindra Bank is the first one in line and has announced that charges will be applicable on UPI payments. After the first 30 transactions in a month, Kotak plans to levy a charge on each P2P and UPI kotransactions, and this includes the transfer of money using the bank account number and IFSC (Indian Financial System Code).

Rohit Rao, who is Kotak Mahindra Bank’s Chief Communication Officer said, “While we continue to offer the first 30 P2P UPI transactions per month at no cost, charges are being introduced only for all subsequent UPI P2P fund transfers, beyond the monthly 30 free transactions.” Every transaction made through UPI, below or equal to the amount of Rs. 1000 will be charged with Rs. 2.50. If the amount of transaction is above Rs. 1000, each transaction will be charged Rs. 5. Additionally, an 18% GST charge will be levied as well.

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Mobikwik-Get up to Rs.1500 Cashback on First 15 UPI Transaction

Mobikwik – Get upto Rs 1500 Cashback on Making 15 UPI Transfer. Mobikwik has launched UPI in their Application recently and now comes with an UPI Transfer offer. Get Rs 1-100 Cashback on each UPI Transfer to any @ikwik VPA. Offer valid for first 15 transfer per user only. So Hurry up and avail this offer now !!

How to Get upto Rs 1500 Cashback on 15 UPI Transfer:-

ABPB BHIM UPI App Refer 5 Friend and Get Rs.100 in Bank

 Get Rs.100 by Rfeferring 5 Friends
BHIM ABPB is a part of the Digital India initiative to enable digital payments & instant online money transfers. BHIM ABPB is built on Unified Payments Interface (UPI) – a mobile-based payments platform launched by National Payments Corporation of India (NPCI)

This offers is same as PhonePe and Tez Refer Earn

Mobikwick- Get Rs.20 on 1st UPI Transaction

 MobiKwick is Started new BHIM services. Mobikwick is gives Rs. 20 on Fist UPI transction.

BHIM App- Refer Friend and Get Rs.51 and 2 More Offers

Bharat Interface for Money (BHIM) is an initiative to enable fast, secure, reliable cashless payments through your mobile phone. BHIM is interoperable with other Unified Payment Interface (UPI) applications, & bank accounts for quick money transfers online. BHIM is developed by the National Payment Corporation of India (NPCI) as a part of the Digital India initiative. BHIM is made in                                              India and dedicated to the service of the nation.

Offer- 1

Send  Rs.1 and earn cashback of  Rs. 51 on the first successful financial transaction.

Steps:-

1. Click On Send Now In App.
2. Now Enter UPI Where You Want To Send Money.
3. Make Sure This Is Your 1st Transaction & You Are Sending Money To @UPI Address
4. Make Sucessfull Transaction By Entering UPI.
5. You Will Get Rs. 51 Cashback Within 5 Days In Your Bank Account Directly.

Phone Pe- Get upto Rs.1000 Cashback on 1st & 5th UPI transction on Phone Pe And Refer friend and Get Rs. 75

PhonePe is a revolutionary way to make mobile payments in India. From UPI payments to recharges, money transfers to online bill payments, you can do it all on PhonePe. PhonePe is way better than Internet Banking and offers you the safest and fastest online payment experience in India.

How to:-

1-    Download PhonePe App From Here

2- Open PhonePe

3- Create new account by entering your mobile number and verifying it via OTP

Tez by Google App – Earn Rs. 51 on Sign up & Rs. 51 on Refer

Send money to friends, pay bills and buy online, or pay the nearby café with Tez, Google's new digital payment app for India. Using NPCI's (National Payments Corporation of India) BHIM Unified Payments Interface (BHIM UPI), money transfers are simple & secure with Tez.

How to:-

1-    Download Tez App From Here

2- Open the App and SignUp from Phone Number(Which is Link with Your Bank Account)

          

3-Now Verify Phone Number via Otp and Link your Bank Account in App