Does UPI have charges?

UPI transactions are generally free for individual users making personal bank-to-bank transfers. According to NPCI guidelines, there are no charges for person-to-person (P2P) or person-to-merchant (P2M) payments made directly from a bank account. Key details include:

• Personal bank transfers: No transaction fees are applicable.
• Merchant payments via wallet: For transactions above 2,000 made using Prepaid Payment Instruments (wallets), an interchange fee applies to the merchant, not the customer.
• Sustainability: While the service is currently free for users, some banks may charge for exceeding specific monthly transaction limits.