What will be the charges for UPI money transfer


What will be the charges for UPI money transfer?


Since UPI is based on IMPs technology, National Payments Corporation of India (NPCI) has fixed Rs. 0.50 per transaction as charges for UPI which will appear as IMPS transaction charges in your bank statement.


Why have UPI when we already have IMPS?


UPI is much more than IMPS. UPI allows you to send and receive money as well as make use of its integrated payment system to make merchant payments. While out shopping you need to stand in long queues at the checkout stations to pay by cash. You can just make use of UPI and instantly pay your dues to the merchant using UPI payment gateway.


Though I have read all information but still left few unanswered questions and would be thankful
if you could please answer following questions:

  1. Do we really need to take license to use UPI APIs ? Is yes then how much does it cost?

  2. Suppose I use any mobile App to transfer money to my friend’s account then would I be charged IMPS
    transfer charges ?

  3. Suppose I request money from my friend using ICICI UPI App but my friends uses HDFC bank App. In that case, would my friend be able to see the UPI money transfer request in his HDFC bank App ?


Hi Jay,

If you just want to use the UPI app, you can download it for free. No licence needed. Presently, many banks don’t charge for UPI transactions. However, the Reserve Bank of India (RBI) has said that charges for transfers made using UPI should not exceed NEFT charges. UPI is interoperable. This means that you can send money from your ICICI account to your friend’s HDFC account through the UPI app. You just need the unique address to transfer or receive money.

BB Expert



There is NO charge for UPI money transfer.

UPI enables for you–

  • Cheapest Way of Money Transfer
  • Instant Money Transfer
  • One UPI ID for all Payments
  • Money Request Facility
  • Check Bank Balance- Anytime, Anywhere
  • No Public & Bank Holidays