Instant money transfers, day or night
Transfer now via UPI on your MyBank India App
MyBank India for Retail and Individual Accounts
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 using 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 using UPI
- 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
UPI Transaction History
- 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
Frequently asked questions
What is Unified Payment Interface (UPI) ?
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.
What is a Virtual Payment Address (VPA) / UPI ID?
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.
*subject to availability
What can be a VPA / UPI ID?
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*.
*subject to availability
How can I generate a VPA?
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.
*subject to availability
Are there any charges for transactions done using UPI?
Currently there are no charges for transactions done through UPI.
How can I transfer money using UPI?
- Login to MyBank India app and click on BHIM 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
What are the different types by which I can send money using UPI?
You can send money either by using IFSC (Beneficiary’s account details), by entering Beneficiary’s VPA or by scanning QR code of beneficiary.
What are the limits on send money transactions using UPI?
You can do UPI transactions up to Rs. 1 lakh per transaction and cumulatively up to Rs. 1 lakh and a maximum of 10 transactions.
What is the advantage of UPI funds transfer over other fund transfer mechanisms?
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.
Where can I see my UPI transactions?
You can view your past transactions under the Transaction History option. This will also reflect in Online Banking & Bank Statement.
Can I put a stop payment request for funds transferred by UPI?
No, once payment is initiated, it cannot be stopped.
Can I transfer money abroad using UPI?
No, you cannot transfer money abroad through this option.
Can I link my NRE / NRO account under UPI?
No, NRE / NRO account cannot be linked for UPI.
What happens when my handset is changed?
When you login into MyBank India app and click on BHIM UPI, you will have to enter the OTP received on the mobile number registered with the bank.
When collecting money using UPI, how do I come to know when the remitter has authorized the transaction?
Any collect money request pending to be authorized from the remitter will be viewed under pending with other option under pending requests in BHIM UPI.
Where do I find the list of transactions that are pending for my authorisation in UPI?
You can accept or decline collect money request under pending with me menu under pending requests in BHIM UPI.
How fast is a transaction under UPI?
Transactions under UPI get completed within few seconds.