New UPI Rule: Now Their will be a Fixed Time Limit to Check your Balance! Know Details
From morning to night, we are used to UPI in every field. The tension of going to ATM to withdraw money or check balance has gradually reduced now. Because we can all know how much balance we have in the bank while sitting at home. But now you can’t check the balance in your account at will, because there is going to be a big change in the UPI sector from August. If you check your balance more than the specified limit, then you have to pay more.
New UPI Rule Regarding Balance Check and Auto Pay
There will be a big change in online payments from August. New rules are going to be implemented in online payments like Google Pay, Phone Pay and Paytm. NPCI is going to impose restrictions on online payments. It is being said that this decision has been taken to free up the network due to the excessive load on UPI. Instructions have been issued to the banks in this regard.
How Often Should you Check your Balance?
If you are checking your balance online every day, then be careful. Because if you check your balance frequently, you will have to pay more. According to the information, you can check your balance online only 50 times a day. Regarding the new rules, Ezeepay’s Chief Operating Officer Musharraf Hussain said, after the implementation of the new rules, merchants may have to face more problems. However, after the implementation of such a rule, the UPI network will be stable and easy to use.
Balance will be Checked at a Fixed Time
Earlier, we used to check our balance online whenever we wanted, be it day or night. However, after the implementation of the new rule, there will now be a fixed time limit. According to preliminary information received from NPCI, customers will be given time to check their balance from 10 am to 1 pm and again from 5 pm to 9:30 pm, or they will not be able to check their balance during this time.
Not only that, but those who have set up ‘auto pay’ systems, for example, Netflix, will also be restricted for SIP. This news is very important for those who are paying online.Therefore, if you transact online more than the prescribed amount, you will have to pay a penalty.
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