How to Transfer Money through UPI?

A unified Payment Interface or UPI is a payment system that allows you to transfer funds from one account to the other over the internet.

It was introduced by the Government of India to promote digital payments in India. It is a real-time payment system that allows users to transfer funds in real-time.

To use UPI, you need to have an account with the member bank i.e., the bank that has an agreement with UPI for the commencement of UPI operations.

There are various UPI apps that you can use for payments like PAYTM, PhonePe, BHIM UPI, etc. You can use any of the apps to make transfers.

In this article, we will discuss how to Transfer money through UPI, how to set up UPI, etc.

How to Set Up UPI?

You can use any UPI app to set up the UPI Payments, in this case, we are talking example of BHIM UPI to set up UPI. You can follow these steps to set up your UPI app-

• Download and install the BHIM UPI app from the play store or App store followed by opening the app
• After opening the app, you’ll have to select the preferred language followed by clicking on the SIM which is connected to your bank account
• After that, you’ll have to send an SMS will be sent from your registered mobile number to the UPI’s server to verify your account
• After successful verification, you’ll have to choose the bank where you have your account
• Now, you’ll find the account listed on the screen and you’ll have to choose the same followed by entering the debit card details
• After entering the debit card details, you’ll have to set up your UPI PIN which can be used for logging in and fund transfer passwords
• After setting up the UPI PIN, your account will be set up

How to Transfer funds through UPI?

You can follow these methods to transfer funds through UPI-

Using QR Code

• Open the BHIM UPI app and login to your account using your login credentials
• Now, click on the send button and a scanner will popup which you’ll have to direct towards a QR Code followed by entering the amount you to transfer
• After entering the amount, you’ll have to enter the MPIN
• Upon inserting the correct MPIN, your funds will be successfully transferred to the receiver’s account

Using Mobile Number

• Open the BHIM UPI app and login to your account using your login credentials
• Now, click on the send button and a scanner will pop up, you’ll also find an empty box where you’ll have to enter the mobile number
• Now, you will be redirected to the payment page where you’ll have to enter the amount you want to transfer
• After entering the amount, you’ll have to enter the MPIN of your UPI account
• After verification of your UPI PIN, your fund transfer will be successful

Using Bank Account + IFSC Code

• Open the BHIM UPI app and login to your account using your login credentials
• Now, click on the send button and a scanner will pop up, you’ll also find an empty box where you’ll have to enter the Bank Account + IFSC Code
• Now, you will be redirected to the payment page where you’ll have to enter the amount you want to transfer
• After entering the amount, you’ll have to enter the MPIN of your UPI account
• After verification of your UPI PIN, your fund transfer will be successful

Using VPA

• Open the BHIM UPI app and login to your account using your login credentials
• Now, click on the send button and a scanner will pop up, you’ll also find an empty box where you’ll have to enter the VPA
• Now, you will be redirected to the payment page where you’ll have to enter the amount you want to transfer
• After entering the amount, you’ll have to enter the MPIN of your UPI account
• After verification of your UPI PIN, your fund transfer will be successful

FAQ