UPI stands for Unified Payments Interface (UPI) which is a platform provided and developed by the National Payments Corporation of India (NPCI), an RBI regulated entity to facilitate inter-operability amongst various banks.
It allows account holders to instantly send and receive money using their smartphones with a single identifier – virtual payments address (VPA) without entering any bank account information. Therefore, customers do not need to know the payee's or payer’s IFSC code, bank account details, etc. and this makes the process simpler. This service is available 24/7, including bank holidays.
Registration to be done one time only and will be prompted on first time usage of UPI
Click on BHIM UPI icon from the footer menu, or from the hamburger side menu, or click on fund transfer and then select BHIM UPI option
Enter OTP received on your registered mobile number
Create your personalized Virtual Payment Address (VPA) or select one from the list of suggestions
Link your bank account to send / receive money
You can now start using BHIM UPI
Send money to any verified virtual payment address (VPA) using Transfer to VPA option
Send money to any account number* using Transfer to account option
Send money to any QR Code using Scan & Pay option
Send money by approving any collect request received from a verified virtual payment address (VPA)
*IFSC code also required
Receive money from any verified virtual payment address Request money option
Generate your personal QR code to receive money from any verified virtual payment address (VPA)
Receive money request sent to other VPAs can be viewed in pending requests section. Click on pending with others button to view the requests
Scan merchant QR code to make instant payments
Enter your Deutsche Bank VPA address on any merchant website, approve collect request from your MyBank India app to make payment
Collect requests can be viewed in pending requests. Navigate to pending requests and click on pending with me button
Link additional account to your existing VPA from the manage VPA section
You can create additional VPAs
You can delete VPA / de-link from the manage VPA section
Money sent from the MyBank India app can be viewed under sent money section
Money received using your Deutsche Bank VPA can be viewed under the receive money section
UPI stands for Unified Payments Interface (UPI) which is a new payments facility provided by NPCI to customers. It allows you to send and receive money 24/7 using their smartphones and tablet with a single identifier – virtual payments address (VPA) / UPI ID – without entering any bank account information. Therefore, customers do not need to know the payee's or payer’s IFSC, bank account details, etc. and this makes the process simpler.
A VPA / UPI ID is an identifier which you can create and link any of your bank accounts to make secure payments. The VPA / UPI ID can be yourname@db* or mobilenumber@db* or any other combination* which is easy to remember.
A VPA / UPI ID can be alphabetical, numeric or alphanumeric. It should be of minimum 3 characters and maximum 50 characters. It cannot contain any special characters except (dot |.| hyphen |-| underscore |_| at the rate |@| which are permissible. Your ID should be easy to remember such as yourname@db* or mobilenumber@db*.
Go to MyBank India App. Click on BHIM UPI, you will be asked to enter OTP received on your mobile number registered with the bank. Post that you will be provided a screen to select a VPA like yourname@db* or mobilenumber@db*. You can set your own personalised VPA* or select from the suggestions. Once registered, you can add more VPAs from the Manage VPA section of UPI.
Click on Transfer Money via “Transfer to VPA” or “Transfer to Account”
Fill out the details on the screen such as beneficiary VPA or account details, amount and remarks. If you have multiple accounts / virtual payment addresses, your default VPA will be selected for debit. Click on Proceed
Please review the next screen carefully on summary page, input your credentials to submit
The service is instant and available 24X7, even on public / bank holidays. Customers can transfer funds in simple steps by providing the virtual payment address of the beneficiary. Also, there is no pre-registration required for the beneficiary.