Are you wondering about the daily limit of Gpay? If you have a doubt, here’s what we have for you.
Gpay or Google Pay is one of the popular payment services that Google provides. It goes back to 2018 when Google releases Gpay in India, then US and Singapore.
It’s a UPI-based payment solution. It allows you to make purchases and send money to friends and family.
However, you may find some limitations on the daily transaction limit. We will explore these transaction limits and provide you with some useful tips to use Gpay in an effective way.
How Gpay works.
Google Pay is popular with the name Gpay. Google developed this mobile payment service that allows you to pay or receive funds instantly using UPI-Unified Payment Interface.
In order to use the service, you have to have a smartphone. It is operable on both Android as well as iOS devices.
After you download the app on your phone you need to set up Gpay with your bank account via ATM or credit card.
In the process, at first, your UPI ID will be created and secondly, your bank account will be ready for transactions.
Every payment that you do will be authenticated with the UPI PIN.
The service is free to use. Anyone who has a bank account can enjoy Google Pay service provided he has an active ATM debit card.
Certain times, you must have faced an issue of limit exhaustion.
For example, when you have not made any payments on Gpay yet the app prompts you the daily transaction limit has been exhausted. Have you ever wondered why it happens?
It’s because the transaction limit set by NPCI is inclusive of all the UPI apps or services you are using. These may include any UPI apps provided by the banks as well as other party apps like Phonepe, airtel wallet, Paytm etc. When you have used your daily quota on any of these UPI apps, Gpay may prompt you about your limit exhaustion.
Gpay Limit Per Day.
In India, what we have seen is that the Google Pay limit is set on a daily basis. In the US the payment limit goes on a rolling 7-day period with a higher daily limit.
It’s because different countries have different regulatory bodies. In India, we have NPCI-The National Payment Corporation of India that controls the rules and regulations pertaining to Gpay uses.
The Gpay limit per day in India is ₹100000. Per transaction how much you can transmit funds depend on the bank you are dealing with. Almost all the popular banks in India, such as- SBI, IDFC, Axis Bank, HDFC, and Canara Bank have ₹100000 maximum limits per transaction.
Whereas there are some banks that have set lower per-transaction limits. You may find these banks have a lower limit- Allahabad Bank(₹25000), Bank of Baroda (₹25000), Bank of Maharashtra (₹10000), Bank of India (₹10000), Central Bank of India (₹10000) and ICICI (₹10000).
You may also find that some banks have capped maximum weekly or monthly limits too. To know exactly what limits the bank has for you, go to the Google support site and refer to the chart.
The list goes on. But the per transaction limits vary with bank and service provider. Though the overall daily limit will be the same. The number of transactions you can do in a day is 10.
Google Pay service in the United States goes on weekly rolling limits. The maximum amount Google allows in Google Pay Balance is $25000 USD. The transaction limit varies as per the type of payment.
The maximum daily transaction limit in the United States is set at $2500 USD and as per their official website, it is said you can pay up to $2000 USD in a single transaction. These limits are applicable on goods purchases with Google Pay balances. However, transferring funds to your near ones, you might get $5000 USD if your identity is verified else, it’s $500 USD only.
If you are in the US, altogether you may be able to do a maximum of 15 transactions per day. Sending money to friends and family is capped at $5000 USD and for buying stuff with it, you may get a $2000 USD limit.
And within the 7-day rolling period, you might be able to keep $25000 USD as Google Pay Balance.
How to increase your Gpay limit?
Gpay in India is regulated by NPCI and the transaction limit is set for all financial and non-financial institutes. Since Gpay works on the UPI payment module, the transaction limit per day set by the governing authority is reasonable.
You might agree when you get insight into how unauthorized transactions are occurring rampantly using UPI. As such, a daily limit of ₹100000 is reasonable.
However, if you are in the US, you may regulate your transaction limit by letting Google verify your identity.
Tips for using Gpay safely and securely.
While using Gpay is a great way to meet all your household financial transactions, it’s important to take appropriate measures to safeguard your bank account as well as your Google wallet.
These appropriate measures are nothing but simple guidelines on how effectively you could use the UPI-integrated Gpay service.
Read on these few tips and if it sounds good try and implement them as you go by.
|1||Make sure you have put on the locking system on your phone. When the device is in locked status the NFC- Near Field Communication service will not get activated.|
|2||Putting additional layers of security is always good. Especially in today’s world. UPI frauds are on the rise and putting your own security measures will always add value. Other than the device locking system, explore other options such as app lock, password manager tools and VPN.|
|3||Change UPI PIN at regular intervals.|
|4||Avoid setting your mobile number as UPI ID.|
|5||Never hand out your UPI ID for receiving payment instead share your QR code.|
|6||Don’t use a public Wi-Fi network for making any sort of online payment including Gpay.|
|7||Don’t share your PIN or password with anyone. Even if you believe him with life, he may get compromised and can become the source of a data breach.|
Gpay is a kind of mobile-friendly application that runs smoothly on both Android as well as iOS devices. The UPI-based app is one of the top favoured apps among other UPI apps.
One can get an easy way out when making small payments such as grocery bills. You may get the pay on the go options such as QR code payment, NFC payment etc.
Regarding the transaction limit per day, it’s ₹100000 in India and in the US this limit goes up to ₹5000 USD.