What are the UPI charges?

UPI transactions are generally free for customers. There are no charges for person-to-person (P2P) transfers or person-to-merchant (P2M) payments made directly from a bank account. Key details include:

• Personal bank-to-bank transfers are free of cost.
• Interchange fees of 0.5% to 1.1% apply only to merchant payments above ₹2,000 made via Prepaid Payment Instruments like wallets.
• These interchange fees are paid by the merchant, not the customer.
• Banks may charge nominal fees if you exceed their daily limit of free savings account debits.