SIP Through UPI

Before using this Invest in Mutual Funds SIP using UPI Payment mode you need to use your own PAN Number and PhonePe account. See below for detailed steps for UPI Based SIP investment in Mutual funds.

#1. Open your PhonePe App on your mobile.

#2. Now go to My Money Section in the bottom

#3. Now Choose to Start a SIP option

#4. It will show you List of Funds or you can also choose Suggest Funds for Me option or Explore Funds option.

#5. Now choose the fund you like.

#6. It will display SIP Details enter the Day of SIP say like 7th of every month

#7. Now Enter Investment Amount you can see the minimum amount in the bottom

#8. Now click on Continue it will ask for PAN number(it’s safe only)

#9. Enter your PAN and click on continue.

#10. Now enter your UPI details and proceed for investing in Mutual Funds using SIP with UPI Payment Mode.

AutoPay for Monthly SIP

Go to My Money section, now select the investment type that you’ve set up an PhonePe AutoPay for.

Tap SIPs at the bottom, now you can see the relavant SIP details.

The money for your monthly SIP will be deducted from your account on the scheduled investment SIP date.

If the SIP date falls on a Holiday then money will be deducted on next working day.

PhonePe made it easier investing in Mutual Funds with UPI Based SIP mode.

The post Now Easily SIP Through UPI in Mutual Funds using PhonePe appeared first on TechAccent.

UPI Error Transaction Limit Exceeded

Below are the Reasons for UPI Transaction Limit Exceeded Errors:

Reason 1: If you are a new UPI user then you cannot make more than Rs 5000 for the first 24 hours after creating your UPI Id.

You will get an error like below on your UPI app.

You’ve exceeded the maximum transaction amount set by your bank.

Post 24 hours of your UPI registration you can use full limit set by your bank.

Reason 2: If you have Changed your Smartphone or changed SIM or Mobile Number for the linked UPI account then for the first 24 hours you cannot make more than Rs 5000 amount and you will get this Error – Transaction Limit Exceeded on your UPI app.

so if you try transferring by any UPI app you will an error like below.

You have exceeded the bank limit for this payment retry with a smaller amount.

Note: This 24 hours limit is for Android users and for iPhone users it is 72 hours.

Reason 3: You have exceeded the limit on your UPI, which means banks set UPI transaction limit per day, or you have used more than the transactions limit per day for your bank.

Generally, all major banks in India be it SBI, HDFC bank, Axis Bank, ICICI Bank, Bank of Baroda, Punjab National Bank PNB, Bank of India, Canara Bank, Union Bank of India allow upto Rs 1 lakh per day to transfer to any UPI account or bank account or 10 transactions per bank account for 24 hours.

Reason 4: Sometimes when you switched to a new phone you cannot make any UPI payment be it transfer or Bill Payment or Merchant transactions for first 24 hours.

Reason 5: UPI app has been updated and you are using an older version of UPI payment app, just update the app and try transferring the amount.

Reason 6: Clear Cache of the UPI payment app and restart the app to make the payment.

The post UPI Error Transaction Limit Exceeded Not able to Send More Than Rs 5000 appeared first on TechAccent.

UPI Mandate in Phonepe

Phonepe UPI Mandate for IPO

When you submitted the Bid for an IPO using Phonepe UPI Id you will automatically get a Pop-Up notification mandate approval message on your Phonepe app, if you do not see it then see below how to accept it.

Open Phonepe App

On the Top Right click on the Notifications Icon

You will see a message like “You have received an autopay request from ipo@hdfcbank click to accept it. See the below image.

Now under AutoPay Request click on Accept

Now under Enable AutoPay Click Accept and enter your details to bid.

Where to Check AutoPay in Phonepe

In your Phonepe app go to My Money Section

Now Look for AutoPay option

Click on it and it will display all the list of AutoPays on Phonepe.

Advantages of UPI Mandate in Phonepe

You can Instantly pay for an IPO Subscription. fund transfer experience of UPI when subscribing for IPO.

Once accepted your bid will be applied in real-time application submission

Can contact Phonepe Customer support for transaction/upi bid-related issues for an applied IPO.

The post How To Check UPI Mandate in Phonepe For IPOs appeared first on TechAccent.