NRIs can do UPI to India without fee transactions

This is possible for NRIs in countries like the US, Canada, the UK, the UAE, Singapore, Australia, and more.

The National Payments Corp. of India has now given UPI access to NRIs who hold NRE or NRO accounts. This means NRIs can now use UPI to send money to family or make payments in India rather than use traditional wire transfers. It is completely free and can be used even when travelling to India or other countries. There is however, a maximum transaction cap of 1 lakh per day, varying slightly depending on the bank. For new IDs, the limit is ₹5,000 for the first 24 hours only.

This new policy aims to streamline cross-border payments for NRIs, especially for smaller, everyday transactions such as family support or bill payments, offering a more convenient and cost-effective alternative to traditional bank transfers or international remittance services.

The NRIs can make UPI payments from specific banks like AU Small Finance Bank, Axis Bank, Canara Bank, City Union Bank, DBS Bank, Equitas Small Finance Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank, IndusInd Bank, Punjab National Bank, and South Indian Bank.

They can use applications like BHIM AU (by AU Small Finance Bank), FedMobile (by Federal Bank), iMobile (by ICICI Bank), BHIM Indus Pay (by IndusInd Bank), SIB Mirror+ (by South Indian Bank), and PhonePe to make transactions.

This enhancement is part of RBI’s ongoing efforts to increase the accessibility and usability of India’s robust digital payment system on a global scale, reinforcing India’s presence in the world of digital finance. Furthermore, this initiative aligns with India’s broader objective to promote digital transactions and facilitate a frictionless payment experience for the Indian diaspora, enhancing the accessibility of UPI in regions with large Indian communities.