How does UPI help me?

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UPI is an online fund transfer/payment method similar to NEFT, RTGS or IMPS.

Every time you send or receive money online (using to NEFT, RTGS or IMPS), you have to share the bank account information i.e. Bank Name, Account Number, IFSC code etc.

With UPI, sharing the bank account detail is not required.

Using UPI you could create a unique ID for a bank account. This ID is called Virtual Payment Address (VPA). It's like a personalized email address which you share with anyone whom you would like to transact online. No need to share bank account details with UPI.

Example of VPA: rajivsingh916@icici

This unique code is linked with one of the bank accounts in the background. You have to share only VPA for transfer and not the whole bank account detail.

VPA is unique for each account. If you have 5 bank accounts on your name in the bank, you have to create 1 UPA for each account.


1. jithin jose   I Like It. |Report Abuse|  Link|Jul 23, 2021 5:46:15 PMReply
Thanks for your valuable information.I start investment in stock market this lock down period.At that timeUPI Payment App are help me reduce the risk payment transactions.This time i remember the value of this type of apps .I got profit from stock market ,anyway once again thank you.

Find more questions on this topic

  1. What is UPI?
  2. What is UPI PIN?
  3. What is UPI in IPO?
  4. How many applications we can bid for an IPO through UPI from one account (according to the new rule of SEBI)?
  5. What happens when an IPO request through IPO has expired?
  6. Will the net banking based ASBA process for IPO completely stop after UPI phase 1?
  7. What is VPA (UPI PIN, UPI ID or UPI Code)?
  8. How do I open UPI Account? How do I register to UPI?
  9. How to use UPI with ICICI Bank?
  10. From when can I use UPI as a payment option in IPO?
  11. Can I submit the IPO application with UPI with my broker?
  12. Up to what limit a retail investor can I apply for an IPO in UPI?
  13. What if my bank is not providing UPI service for IPO?
  14. How do I select UPI as the payment option while applying for IPO?
  15. Can I use third party UPI ID or a third party bank account for making payment in IPO?
  16. What if I by mistake decline the UPI collect request to block funds for IPO?
  17. What if I do not want to proceed with the UPI IPO application? Can I withdraw my bid?
  18. What if I get a technical error on the UPI App while accepting the IPO request?
  19. Will I be notified when the bid is successfully placed for IPO using UPI?
  20. What happens if I don't get a blocking request from the broker on the UPI id entered in the application form?
  21. What if I input wrong UPI PIN while authorizing the request from IPO?
  22. Can I modify/cancel an IPO request made using UPI by visiting my bank branch?
  23. Is there any timeline by which I need to act upon the block request from UPI for IPO?
  24. How do I know that the UPI block request from IPO is not fraudulent?
  25. What if my amount is blocked twice for a single IPO request using UPI?
  26. What happens if I deregister from the UPI App after accepting the IPO request?
  27. What happens if I do not have sufficient balance in my bank account while accepting the IPO blocking request through UPI?
  28. Can I use the same UPI PIN for accepting the IPO block request?
  29. How many times do I need to input UPI PIN for creating and processing the IPO block request?
  30. To whom should I approach if I have some issues with the IPO block request, my bank or my broker?
  31. How do I know if my bank is providing IPO services through UPI?
  32. Can I modify the bid quantity, price, block amount, etc., when I UPI receive a block request for IPO?
  33. Till what time I can authorize the modification UPI request for IPO?
  34. Till when can I revoke an IPO mandate request through UPI?
  35. What does revoking an IPO request through UPI mean?
  36. What happens if revoking of an IPO though UPI fails due to technical error?
  37. What happens if I get partial allotment for IPO applications through UPI? Will my money be unblocked for the remaining shares?
  38. What happens if I do not get any shares but my money remains blocked when applying IPO through UPI?
  39. What are the steps in UPI IPO process in India?
  40. How do I get the UPI ID for a Minor Account?