BHIM APP
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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 neds 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 .
The transfer limit is Rs 10,000 per transaction with a daily limit of Rs 20,000 per account . One can do maximum 20 transactions per day .
There are no charges levied by NPCI for making transactions . However individual banks my charge fees for the transactions done through BHIM .
For User Manual of BHIM , CLICK HERE
BHIM is now available in following languages :
English , Hindi , Bengali , Gujarati , Kannada , Malayalam , Oriya , Tamil and Telugu
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 neds 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 .
The transfer limit is Rs 10,000 per transaction with a daily limit of Rs 20,000 per account . One can do maximum 20 transactions per day .
There are no charges levied by NPCI for making transactions . However individual banks my charge fees for the transactions done through BHIM .
For User Manual of BHIM , CLICK HERE
BHIM is now available in following languages :
English , Hindi , Bengali , Gujarati , Kannada , Malayalam , Oriya , Tamil and Telugu
LIST OF MEMBER BANKS
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1. Andhra Bank 2, Axis Bank 3. Bank of Baroda 4 . IDFC Bank 5. Bank of India 6 Bank of Maharashtra 7. Catholic Syrian Bank 8. Central Bank of india 9. Dena Bank 10. DCB Bank 11. Federal Bank 12.HDFC Bank 13. ICICI Bank 14. IDBI Bank 15. Indian Bank 16.Indian Overseas Bank 17. Indusind Bank 18.Karnataka Bank 19. Karur Vysya Bank 20. Kotak Bank 21. Oriental Bank of Commerce 22. Punjab National Bank 23. RBL Bank 24. South Indian Bank 25.Standard Chartered Bank 26. State Bank of India 27. Syndicate Bank 28. UCO Bank 29. Union Bank of india 30. United Bank of india 31. Vijaya Bank 32. YES Bank 33. TJSB 34. Canara Bank 35.Allahabad Bank 36. City Union Bank ( To reach websites of the above banks , CLICK HERE ) For the latest list of member banks 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 from 11th Feb 2017 .
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HOW TO GET STARTED ON BHIM ?
1. Download the app from Play Store and install in phone;
2. Select prefered language .
3. If your mobile has multiple SIMs, select the SIM of the mobile number linked to your bank account .
4. Login by setting 4 digit application password
4. Link your bank account using bank accounts option .
5. Set your UPI PIN by providing last 6 digits of your debit card and expiry date of the card
6. Set Virtual payment address ( VPA ) as a primary VPA and you may create one more VPA as secondary VPA .
7. QR code feature is available which can be used to receive by scanning it on the beneficiary mobile phone
8. You can send and receive money using BHIM app in 3 ways
a. using Virtual Payment Address ( VPA )
b. using Account number and IFSC Code
c. by scan and pay option
2. Select prefered language .
3. If your mobile has multiple SIMs, select the SIM of the mobile number linked to your bank account .
4. Login by setting 4 digit application password
4. Link your bank account using bank accounts option .
5. Set your UPI PIN by providing last 6 digits of your debit card and expiry date of the card
6. Set Virtual payment address ( VPA ) as a primary VPA and you may create one more VPA as secondary VPA .
7. QR code feature is available which can be used to receive by scanning it on the beneficiary mobile phone
8. You can send and receive money using BHIM app in 3 ways
a. using Virtual Payment Address ( VPA )
b. using Account number and IFSC Code
c. by scan and pay option
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 .
While BHIM is available only on Android phones , other wallets are available on other platforms like APPLE Stores . While BHIM is available only in English and Hindi , most of other e-wallets supports multiple vernacular languages .
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 .
While BHIM is available only on Android phones , other wallets are available on other platforms like APPLE Stores . While BHIM is available only in English and Hindi , most of other e-wallets supports multiple vernacular languages .
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 .