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Guide to UPI for NRI: Setup, eligibility & benefits
Key Takeaways
NRIs can now make UPI payments by linking their NRE/NRO accounts with an international mobile number.
- The NPCI has enabled UPI for NRIs from 12 countries with specific banks offering this facility.
- NRIs can send and receive money, pay utility bills, and make merchant payments in India via UPI without bearing additional charges.
- UPI transactions are fast, encrypted, and protected by two-factor authentication, ensuring secure fund transfers.
The Unified Payments Interface (UPI) has revolutionised digital payments in India, making transactions instant, seamless, and hassle-free. Previously, this facility was restricted to Indian residents, but with recent advancements, NRIs can now leverage UPI for various transactions.
This development is particularly beneficial for NRIs, students studying abroad, and overseas businesses, allowing them to handle payments in India efficiently. Whether it's sending money to family, paying bills, or making online purchases, UPI eliminates the need for cumbersome bank details and expensive remittance services. By linking an NRE or NRO account to UPI, NRIs can now experience the convenience of India’s digital payment ecosystem.
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Can NRIs use UPI?
Yes, NRIs pay via UPI using their NRE or NRO Account from an eligible bank. To do so, they must link their account with an international mobile number from any of the eligible countries.
Eligibility criteria for NRIs:
- Must hold an NRE Account or NRO account with a UPI-enabled Indian bank.
- Should register with a mobile number from one of the supported countries with any supported UPI app, such as BHIM or PhonePe.
- The linked mobile number should be active and capable of receiving OTPs.
- The bank must comply with FEMA regulations and anti-money laundering guidelines.
List of supported countries and ISD codes
Country |
ISD Code |
Hong Kong |
+852 |
United States of America |
+1 |
Canada |
+1 |
Australia |
+61 |
United Arab Emirates |
+971 |
Singapore |
+65 |
United Kingdom |
+44 |
Saudi Arabia |
+966 |
Oman |
+968 |
Qatar |
+974 |
Germany |
+49 |
Malaysia |
+60 |
Netherlands |
+31 |
France |
+33 |
South Africa |
+27 |
New Zealand |
+64 |
How NRIs can set up UPI payments
Setting up UPI as an NRI is straightforward. Follow these steps to register and start using UPI:
- Ensure you have an NRE/NRO account with an Indian bank that supports UPI transactions.
- Register your international mobile number with your bank. This is crucial for OTP verification.
- Download a UPI-enabled app such as PhonePe, Paytm, or the IDFC FIRST Bank mobile app.
- Verify your mobile number by allowing the app to detect and validate your SIM. Ensure the app supports international numbers.
- Select your bank and link your NRE/NRO account. The app will fetch your account details linked to your registered number.
- Set up a UPI PIN using an OTP sent to your registered mobile number.
- Start transacting – send money, pay bills, or scan QR codes for merchant payments.
UPI for NRIs bridges the gap between international transactions and India’s fast-growing digital economy, making financial management effortless for non-resident Indians.
Features & benefits of UPI for NRIs
1. Instant money transfers:
UPI allows NRIs to send and receive money from anyone in India without hassles. Transactions can be done using just a UPI ID, QR code, or phone number.
2. Paying bills in India from abroad:
NRIs can conveniently pay utility bills, EMIs, school fees, insurance premiums, and subscriptions in India from anywhere in the world.
3. Secure and Reliable Transactions:
UPI is protected by two-factor authentication and encryption, reducing fraud risks. Each transaction requires a UPI PIN, ensuring security.
Limitations and challenges
Keep in mind the following restrictions for NRI UPI payments:
1. Restrictions on fund transfers
- UPI is currently limited to domestic transactions within India. NRIs cannot send money overseas through UPI.
- Transactions must comply with FEMA guidelines and cannot violate foreign exchange regulations.
2. Transaction limits for NRIs
- UPI has daily and per-transaction limits, which vary across banks. After setting up an account, there is a cooling period with a transaction amount limit of Rs. 5,000 for 24 hours.
- After the cooling period ends, you can transfer a maximum of Rs. 1 Lakh per day with the number of transactions limited to 24 times in a day.
- Some banks have lower limits on UPI transactions for NRIs compared to resident Indian accounts.
Conclusion
The introduction of UPI for NRIs has made managing financial transactions in India easier and more accessible. By linking an IDFC FIRST Bank NRE/NRO account to UPI, NRIs can enjoy instant, secure, and cost-effective digital payments. From sending money to loved ones to paying bills hassle-free, UPI eliminates complexities, offering a seamless banking experience. However, it is essential to stay updated on transaction limits and regulations to make the most of this facility.
Disclaimer
The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.
The features, benefits and offers mentioned in the article are applicable as on the day of publication of this blog and is subject to change without notice. The contents herein are also subject to other product specific terms and conditions and any third party terms and conditions, as applicable. Please refer our website www.idfcfirst.bank.in for latest updates.
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