New Delhi: As we know, there is a limit for sending money while doing mobile banking. Because of this, we have to do the same process over and over again. In the Corona era, people avoided cash transactions to a great extent to avoid infection. People gave more preference to Digital Transactions. The problem came when people had to transfer large sums of money in lump sums to their family or friends’ relatives.
Most digital payment apps allow their users to transfer cash up to a certain limit in a day. If you have also faced such a problem then now there is good news for you. Now you can send up to Rs 1 lakh to your friends, relatives and family members just through mobile number.
UPI ID will not be needed
ICICI Bank, Kotak Mahindra Bank, and Airtel Payments Bank have launched the Pay to Contact or Pay Your Contact service. Under this new service, you will be able to send money to a friend or any relative on their mobile number through your mobile number. Till now, for sending money through UPI, other’s bank account details or UPI ID was required. Once this service starts, it will no longer be needed.
Money can be sent like this
- First of all, open the app of your bank. Then click on Pay to Contact or Pay Your Contact.
- Open the mobile phonebook. Then select the number of whomever you want to send money.
- By doing this, the bank’s app will automatically find the UPI address of the contact. However, for this the sender should also have a UPI address.
- Now enter the amount and password. After that, the money will go to other’s account.
- According to banks, UPI ID or bank details are not required during payment with the new service of UPI.
- Through the new service, Kotak Mahindra Bank will allow its customers to transfer up to Rs 50,000.
- ICICI Bank customers can transfer up to Rs 1 lakh per day.
