PhonePe, Gpay or Google Pay, Amazon Pay and Paytm are four of the largest mobile money transfer applications present in India right now. The arrival of the Unified Payments Interface (UPI) gave these payment platforms a new identity in the market. Paytm was already there for a long time, allowing consumers to transfer money from wallet to wallet. However, UPI came and allowed users to transfer money into the bank accounts of friends, family, vendors, and more in real time without incurring additional charges. With UPI, all that is required is an internet connection and the UPI address of the user to whom the money needs to go to. Today, we are going to be looking at the max transfer limit for PhonePe, Gpay, Amazon Pay and Paytm in a day.
Paytm Max Transfer Limit for Users
The maximum amount of money that you can transfer through Paytm UPI in a day is Rs 1 lakh. In an hour, that limit is set at Rs 20,000. Also, in a given hour, you can make a maximum of five transactions and 20 transactions in a day.
PhonePe Max Transfer Limit for Users
PhonePe users can do a maximum transfer of Rs 1 lakh in a day as well. But with PhonePe, there are also factors such as the bank you are transferring the money from. Different banks have different limits.
Gpay Max Transfer Limit for Users
Gpay or Google Pay allows Indian consumers to also transfer up to a limit of Rs 1 lakh in a given day through UPI. Further, the cap on the number of transactions in a given day is 10 for users.
Amazon Pay Max Transfer Limit for Users
Amazon Pay also uses UPI and has a max transfer limit in place. Users can't transfer more than Rs 1 lakh in a single day through Amazon Pay. However, for new users who have just registered on the platform, the limit is set at Rs 5000 for the first 24 hours.