BHIM APP
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NO MDR CHARGES FOR RuPAY , UPI TRANSACTIONS FROM 1ST, JAN 2020 : FM
Dated 29.12.2019 : Ms Nirmala Sitharaman , Finance Minister , has announced that there will be no MDR Charges ( Merchant Discount Rates ) on Digital transactions of Rupay and UPI platforms from January 1st, 2020 onward . Department of Revenue will shortly notify Rupay and UPI as Platforms without MDR charges for merchants .
Dated 29.12.2019 : Ms Nirmala Sitharaman , Finance Minister , has announced that there will be no MDR Charges ( Merchant Discount Rates ) on Digital transactions of Rupay and UPI platforms from January 1st, 2020 onward . Department of Revenue will shortly notify Rupay and UPI as Platforms without MDR charges for merchants .
BHIM APP - INDIAN APP FOR MONEY TRANSFER
Prime minister of India Mr Narendra Modi announced a new app called BHIM , acronym for Bharat Interface for Money . The app is managed by National Payments Corporation of India (NPCI) and developed on UPI platform . With this App , you can make direct bank to bank transfers instantly by using your mobile number or payment address . Using this App , you can send money , request for money , scan and pay for merchant transactions and check bank accounts . It is reported that more than 10 million apps were downloaded within 10 days of its launch .
One needs to have a smart phone , internet connection and mobile phone number linked to bank account of a member bank to download BHIM app and utilise the application . One with feature phone has to dial *99# to utilise the BHIM . Your bank account needs to have been enabled for mobile banking by your banker . Currently you can attach only one bank account to the BHIM app .
If you want to transfer to a beneficiary account of a bank which is also a member of BHIM , you need to just give mobile number of the beneficiary to complete the transaction . Otherwise , you have to give account number , IFSC Code , Beneficiary name etc to complete the transaction . The transactions can be done 24 X 7 .
For more information on BHIM , CLICK HERE
One needs to have a smart phone , internet connection and mobile phone number linked to bank account of a member bank to download BHIM app and utilise the application . One with feature phone has to dial *99# to utilise the BHIM . Your bank account needs to have been enabled for mobile banking by your banker . Currently you can attach only one bank account to the BHIM app .
If you want to transfer to a beneficiary account of a bank which is also a member of BHIM , you need to just give mobile number of the beneficiary to complete the transaction . Otherwise , you have to give account number , IFSC Code , Beneficiary name etc to complete the transaction . The transactions can be done 24 X 7 .
For more information on BHIM , CLICK HERE
WHO CAN USE BHIM APP ?
Any user having a smartphone and bank account is eligible to use BHIM. That being said, you need your mobile number registered with the bank and a debit card linked to that account. You can download the app from playstore or appstore.
WHO CAN USE BHIM APP ?
Any user having a smartphone and bank account is eligible to use BHIM. That being said, you need your mobile number registered with the bank and a debit card linked to that account. You can download the app from playstore or appstore.
WHAT ARE THE FUNCTIONS YOU CAN FO WITH BHIM APP ?
You can send & collect money to any person on UPI
You can pay bills on merchant website by UPI
You book flight tickets or recharge your mobile
You can scan a QR to make quick payments
You can check your transaction history on UPI
You can send money to Account and IFS code
You can send & collect money to any person on UPI
You can pay bills on merchant website by UPI
You book flight tickets or recharge your mobile
You can scan a QR to make quick payments
You can check your transaction history on UPI
You can send money to Account and IFS code
BHIM is now available in following languages :
Hindi, English, Tamil, Telugu, Malayalam, Bengali, Odia, Kannada, Punjabi, Assamese, Urdu, Marathi, Gujarati, Haryanvi, Bhojpuri and Konkani.
Hindi, English, Tamil, Telugu, Malayalam, Bengali, Odia, Kannada, Punjabi, Assamese, Urdu, Marathi, Gujarati, Haryanvi, Bhojpuri and Konkani.
MEMBER BANKS FOR BHIM APP
1. AU Small Finance Bank ✓
2 Abhyudaya Co-op Bank ✓
3 Adarsh Co-operative Bank Ltd ✓
4 Ahmedabad Mercanatile Co-op Bank ✓
5 Airtel Payments Bank ✓
6 Allahabad Bank ✓ ✓
7 Andhra Bank ✓ ✓
8 Andhra Pragathi Grameena Bank ✓
9 Andhra Pragathi Grameena Vikas Bank ✓
10 Apna Sahakari Bank ✓
11 Assam Gramin Vikas Bank ✓
12 Axis Bank ✓ ✓
13 Bandhan Bank ✓
14 Bank Of Baroda ✓ ✓
15 Bank Of India ✓ ✓
16 Bank of Maharashtra ✓
17 Baroda Gujarat Gramin Bank ✓
18 Baroda Rajasthan Kshetriya Gramin Bank ✓
19 Baroda Uttar Pradesh Gramin Bank ✓
20 Bassein Catholic Coop Bank ✓
21 Bhilwara Urban Co-operative Bank Ltd ✓
22 Canara Bank ✓ ✓
23 Catholic Syrian Bank ✓ ✓
24 Central Bank of india ✓ ✓
25 Chaitanya Godavari Grameena Bank ✓
26 Chhattisgarh Rajya Gramin Bank ✓
27 Citibank ✓
28 City Union Bank ✓ ✓
29 Corporation Bank ✓ ✓
30 DBS Digi Bank ✓
31 DCB Bank ✓
32 Dena Bank ✓
33 Dena Gujarat Gramin Bank ✓
34 Dhanalaxmi Bank ✓
35 Dombivali Nagrik Sahakari Bank ✓ ✓
36 ESAF Small Finance Bank ✓
37 Equitas Small Finance Bank ✓ ✓
38 FINO Payments Bank ✓
39 Federal Bank ✓ ✓
40 Fincare Small Finance Bank ✓
41 G P Parsik Bank ✓ ✓
42 HDFC Bank Ltd ✓ ✓
43 HSBC ✓
44 Himachal Pradesh Gramin Bank ✓
45 Hutatma Sahakari Bank Ltd ✓
46 ICICI Bank ✓ ✓
47 IDBI Bank ✓ ✓
48 IDFC ✓
49 Indian Bank ✓
50 Indian Overseas Bank ✓ ✓
51 IndusInd Bank ✓ ✓
52 J & K Grameen Bank ✓
53 Jalgaon Janata Sahkari Bank ✓
54 Jammu & Kashmir Bank ✓
55 Janta Sahakari Bank Pune ✓
56 Janta Sahakari Bank Pune ✓ ✓
57 Kallappanna Awade Ichalkaranji Janata Sahakari Bank Ltd. ✓
58 Kalupur Commercial Co-operative Bank ✓
59 Karnataka Bank ✓
60 Karnataka Gramin Bank ✓
61 Karnataka vikas Gramin Bank ✓
62 Karur Vysaya Bank ✓
63 Kerala Gramin Bank ✓
64 Kotak Mahindra Bank ✓ ✓
65 Maharashtra Gramin Bank ✓
66 Maharashtra State co-operative Bank ✓
67 Malad Sahakari Bank ✓
68 Manipur Rural Bank ✓
69 Maratha Co-oprative Bank Ltd ✓
70 Meghalaya Rural Bank ✓
71 Mizoram Rural Bank ✓
72 NKGSB ✓
73 Nanital Bank Ltd ✓
74 Oriental Bank of Commerce ✓
75 Paschim Banga Gramin Bank ✓
76 Patan Nagarik Sahakari Bank ✓
77 Paytm Payments Bank ✓
78 Pragathi Krishna Gramin Bank ✓
79 Prathama Bank ✓
80 Punjab Gramin Bank ✓
81 Punjab National Bank ✓ ✓
82 Punjab and Maharastra Co. bank ✓ ✓
83 Punjab and Sind Bank ✓ ✓
84 Purvanchal gramin Bank ✓
85 Rajasthan Marudhara Gramin Bank ✓
86 Rajkot Nagari Sahakari Bank Ltd ✓
87 Samruddhi Co-op bank ltd ✓
88 Sarva Haryana Gramin Bank ✓
89 Sarvodaya Commercial Co-operative Bank ✓
90 Saurashtra Gramin Bank ✓
91 Shree Kadi Nagarik Sahakari Bank Ltd ✓
92 South Indian Bank ✓
93 Standard Chartered ✓ ✓
94 State Bank Of India ✓ ✓
95 Suco Souharda Sahakari Bank Ltd ✓
96 Surat People Cooperative Bank ✓
97 Suryoday Small Finance Bank Ltd ✓
98 Suvarnayug Sahakari Bank ✓
99 Syndicate Bank ✓ ✓
100 Tamilnad Mercantile Bank ✓
101 Telangana Grameena Bank ✓
102 Thane Bharat Sahakari Bank ✓
103 The Cosmos Co-Operative Bank LTD ✓
104 The Ahmedabad District Coop bank ✓
105 The Baroda Central Co-op Bank Ltd ✓
106 The Gujarat State Co-operative Bank Limited ✓
107 The Hasti Co-operative Bank Ltd ✓
108 The Kalyan Janta Sahkari Bank ✓
109 The Lakshmi Vilas Bank Limited ✓ ✓
110 The Mahanagar Co-Op. Bank Ltd ✓
111 The Mehsana Urban Co-Operative Bank ✓
112 The Ratnakar Bank Limited ✓
113 The SVC Co-Operative Bank Ltd ✓
114 The Saraswat Co-Operative Bank ✓ ✓
115 The Sutex Co-op Bank ✓
116 The Thane Janta Sahakari Bank Ltd(TJSB) ✓ ✓
117 The Udaipur Mahila Urban Co-op Bank Ltd ✓
118 The Urban Cooperative Bank Ltd Dharangaon ✓
119 The Varanchha Co-op Bank Ltd ✓
120 The Vijaya Co-operative Bank Ltd, Ahmedabad ✓
121 The Vishweshwar Sahakari Bank Ltd ✓
122 Tripura Gramin Bank ✓
123 UCO Bank ✓ ✓
124 Udaipur Mahila Urban Co-op Bank Ltd ✓
125 Ujjivan Small Finance Bank ✓
126 Union Bank of India ✓
127 United Bank of India ✓ ✓
128 Uttarakhand Gramin Bank ✓
129 Vananchal Gramin Bank ✓
130 Vasai Vikas Co-op Bank Ltd ✓
131 Vijaya Bank ✓
132 Yes Bank ✓ ✓
To know all Present partners of BHIM , CLICK HERE
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BENEFITS OF BHIM APP
1. BHIM App allows a customer to pay directly from a bank account to different merchants, by using sacn and pay without the hassle of typing credit card details, IFSC code, or net banking passwords.
2. It is safe as the customers only share a virtual address and provide no other sensitive information like account number , credit card details etc .
3. No need to add money to BHIM as it has no wallet
4. While e-wallets like paytm , mobikwik allow only merchant / biller payments , BHIM can be used for any account to account transfer
5. The service is instant and available 24X7, even on public/bank holidays.
HOW TO GET BHIM APPLICATION ?
The BHIM app of member banks are available on the Google Play Store of Android phones . It is also available for Apple Phones on Apple ios.
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HOW TO GET STARTED ON BHIM ?
1. Download the app from Play Store and install in phone;
2. Select preferred language .
3. App will ask permission to send SMS to verify.
4. Successful attempt with take you to Home page
5. If unsuccessful, after 45 seconds an OTP will be sent to you.
6 .If step 4 is unsuccessful, you will be prompted to dial a USSD code.
Once NPCI recognizes your mobile number and handset, your registration is complete. On successful registration, a default ID i.e mobilenumber@upi will be created. You can add one more VPA by going in the profile section.
SETTING UPI PIN :UPI PIN is a four or six digit number that is set by the customers on BHIM after the registration process. UPI PIN is used for authenticating all transactions done on UPI platform (BHIM or *99# or UPI apps) .
Once your mobile is verified, you will have to select your bank account and set your UPI pin . After you select your bank account, you will be promoted to set your UPI pin for the first time. You need to input the last 6 digits of your debit card along with the expiry date. If you are a SBI Maestro card user, you can enter the expiry date as 01/49.
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SENDING MONEY :
You can send money using BHIM by following three ways
The account which you have selected will be displayed on the top left with the bank’s icon. That will be your default bank. You can change the bank account by going to “Bank Accounts” and clicking on the three dots menu option to change the bank.
A user can send upto Rs 40,000 per transaction and a maximum of Rs 40,000 per day for one bank account. This limit is available per bank account linked on BHIM.
RECEIVING MONEY :
On BHIM, you can initiate a collect transaction for asking money from someone. You have to enter the amount and UPI ID. The user who will receive the request can pay or decline the collect request by authenticating it with the UPI pin.
2. Select preferred language .
3. App will ask permission to send SMS to verify.
4. Successful attempt with take you to Home page
5. If unsuccessful, after 45 seconds an OTP will be sent to you.
6 .If step 4 is unsuccessful, you will be prompted to dial a USSD code.
Once NPCI recognizes your mobile number and handset, your registration is complete. On successful registration, a default ID i.e mobilenumber@upi will be created. You can add one more VPA by going in the profile section.
SETTING UPI PIN :UPI PIN is a four or six digit number that is set by the customers on BHIM after the registration process. UPI PIN is used for authenticating all transactions done on UPI platform (BHIM or *99# or UPI apps) .
Once your mobile is verified, you will have to select your bank account and set your UPI pin . After you select your bank account, you will be promoted to set your UPI pin for the first time. You need to input the last 6 digits of your debit card along with the expiry date. If you are a SBI Maestro card user, you can enter the expiry date as 01/49.
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SENDING MONEY :
You can send money using BHIM by following three ways
- VPA ( Registered on UPI) : When you enter a VPA and click on verify, the account holder’s name (as mentioned in the bank’s system) will be displayed. This is for you to cross check if the sender and the bank account to which you want to send money are the same. Incase they appear different, please re confirm the VPA of the receiver. Money once sent through BHIM cannot be reversed.
- Mobile No. ( Registered on UPI)
- Account Number and IFS code
The account which you have selected will be displayed on the top left with the bank’s icon. That will be your default bank. You can change the bank account by going to “Bank Accounts” and clicking on the three dots menu option to change the bank.
A user can send upto Rs 40,000 per transaction and a maximum of Rs 40,000 per day for one bank account. This limit is available per bank account linked on BHIM.
RECEIVING MONEY :
On BHIM, you can initiate a collect transaction for asking money from someone. You have to enter the amount and UPI ID. The user who will receive the request can pay or decline the collect request by authenticating it with the UPI pin.
Tips for secured use of BHIM APP
The system can be used by any account holders having smart phones . However certain precautions are to be taken for safeguarding the account .
. Here is a list of safety precautions
1. Keep your mobile phone private
2. Make sure your devices and networks are secure
3. Keep your passwords secret
4. While making remittances , note to correctly type the VPA address of the beneficiary . Beneficiary can immediately withdraw the money so received . Hence it may be difficult to recover from a wrong beneficiary .
5. ANY PERSON WHO GETS YOUR MOBILE AND PASSWORD CAN MISUSE THE APP . KEEP YOUR MOBILE PHONE SECURE . IF YOU LOSE IT , IMMEDIATELY REPORT TO YOUR MOBILE COMPANY TO STOP THE SERVICES . ALSO INFORM YOUR BANK .
6. Have a tab on your account . Check often
. Here is a list of safety precautions
1. Keep your mobile phone private
2. Make sure your devices and networks are secure
3. Keep your passwords secret
4. While making remittances , note to correctly type the VPA address of the beneficiary . Beneficiary can immediately withdraw the money so received . Hence it may be difficult to recover from a wrong beneficiary .
5. ANY PERSON WHO GETS YOUR MOBILE AND PASSWORD CAN MISUSE THE APP . KEEP YOUR MOBILE PHONE SECURE . IF YOU LOSE IT , IMMEDIATELY REPORT TO YOUR MOBILE COMPANY TO STOP THE SERVICES . ALSO INFORM YOUR BANK .
6. Have a tab on your account . Check often
BHIM VS E-WALLETS
BHIM is though similar to other payment wallets like PayTm , Mobikwik etc , actually BHIM is not an e-wallet . One need not
add money to BHIM , unlike other e-wallets where one neeeds to add money to the wallets of the applications . In BHIM , money is directly debited from the bank account attached for all the payments . In all the apps , payments can be made to merchants / billers etc , but in BHIM additionally account to account transfers can be done .
Most of the e-payment applications now allow transactions through Feature phones by dialing *99#.
While so far no security issues have cropped up on major e-wallet apps , BHIM is yet to be tested .
add money to BHIM , unlike other e-wallets where one neeeds to add money to the wallets of the applications . In BHIM , money is directly debited from the bank account attached for all the payments . In all the apps , payments can be made to merchants / billers etc , but in BHIM additionally account to account transfers can be done .
Most of the e-payment applications now allow transactions through Feature phones by dialing *99#.
While so far no security issues have cropped up on major e-wallet apps , BHIM is yet to be tested .