National Electronic Funds Transfer (NEFT) is an excellent banking facility that aids swift, and secure money transfer from one bank account to another. However, a major concern many users face regards the NEFT transfer limit. If you want to enhance your NEFT transfer limit, you are at the right place. This article provides you with practical steps to increase your NEFT transfer limit.
What is NEFT?
NEFT is a nationwide payment system facilitating one-to-one funds transfer. It allows individuals, companies, and corporates to transfer funds from one bank branch to any individual, firm, or corporate having an account with any other bank branch in the country. Despite its wide-spread applicability, the NEFT transfer limit is often cited as a hindrance to large transactions. But fortunately, there are ways to increase this transfer limit.
How to Increase Your NEFT Transfer Limit Using BHIM UPI
You can boost your NEFT transfer limit using BHIM UPI. BHIM UPI (Unified Payments Interface) is an instant real-time payment system developed by the National Payments Corporation of India to facilitate inter-bank transactions through mobile. This revolutionary system not only makes fund transfers easy and secure but also provides you with a higher transfer limit compared to the standard NEFT guidelines.
Bajaj Pay UPI: An Alternative for Higher Transfer Limits
It’s easy to utilise BHIM UPI for raising your NEFT transfer limit. To start with, you need to download the UPI app on your mobile device. Post downloading, launch the app and verify your mobile number. Follow the instructions prompted on the screen, and in the process, establish a 4-digit UPI PIN for easy and secure transactions. In the app’s homepage, you will find multiple options for banking services. Choose ‘NEFT transfer’ and follow the steps provided. With BHIM UPI, your NEFT transfer limit can be increased to a significant level.
Enter into the world of easy and convenient transfers with Bajaj Pay UPI. With cutting-edge technology, Bajaj Pay UPI takes the transaction experience up a notch. It simplifies transactions by making them seamless and secure, ensuring a high-quality user experience. Developed by Bajaj Finance Limited, it adheres to the guidelines set by the National Payments Corporation of India and offers round-the-clock banking access.
How to Use Bajaj Pay UPI
Using Bajaj Pay UPI involves a few easy steps. Firstly, install the Bajaj Finserv, which hosts the Bajaj Pay UPI feature. After downloading, open the app and fill in the necessary details to create your account. Add your bank account to the app and set your UPI PIN. You can now successfully conduct transactions using the Bajaj Pay UPI, ensuring a faster, and safer operation.
It is important to note the transaction limit using Bajaj Pay UPI is ₹ 1 Lakh. Thereby, it allows a higher transfer limit than the conventional NEFT transfer limit. This digital platform takes the functionality of NEFT a step further with its feasible, user-friendly application.
Conclusion
In conclusion, advancements in digital payment systems like BHIM UPI and Bajaj Pay UPI have completely transformed the banking landscape. They have made banking hassle-free and accessible while ensuring high-security standards. If your banking needs are continually hindered by the conventional NEFT transfer limit, adopting UPI-based applications can help you bypass this obstacle and enjoy seamless and safe transactions. Embrace these alternatives and unlock limits you never thought were possible in banking transactions!