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Introduction

Allahabad bank is one of the oldest public sector banks in India and dates back to the pre-independence era. The bank had more than 3200 branches across the country and was recently merged with another public sector bank the Indian Bank. It has a huge customer base and an extensive network of branches that work efficiently and seamlessly to provide banking solutions to its customers across the country.

The bank has grown from being a modest and traditional bank to a contemporary bank with modern banking facilities and branches equipped to handle large volumes of transactions. Allahabad Bank also provides the facility of digital banking to its customers along with many other products and services to ensure that customers get the facility of anywhere anytime banking that has become the norm of today.

Digital Banking was the next step in the technological advancement of the banking sector. It is also in line with the vision of the Government of India to push for a digital economy so it will eventually become the primary mode of making or receiving payments and gradually help customers move towards a cashless economy. Banks all across the country have participated to fulfill this vision and have progressed to this next natural step of development in the banking scenario.

Digital payments can be through any of the following forms or platforms,

Allahabad Bank also has a UPI Platform using which its customers can receive and make payments to partner banks, partner merchants, or even to other individuals who have a UPI Id themselves.

Following are the details of the UPI feature or payments service offered by Allahabad Bank.

What is UPI?

Allahabad Bank Upi

UPI is the Unified Payments Interface which is a unique payments model developed by the National Payments Corporation of India and regulated by the RBI. It is a payments gateway that is available to all certified and registered partner banks and merchants or even individuals. Customers can send or receive money instantly as it is based on the IMPS technology. Customers do not have to provide the details like the bank account number or the IFSC code of the bank for UPI payments. It is a very secure platform to send and receive funds and an efficient and hassle-free mode of making payments.

Features of Allahabad Bank UPI

There are many features of the UPI application of the Allahabad Bank that make it a very viable and preferred mode of digital transactions. Some of key features are mentioned below.

  • UPI is a very secure mode of doing banking transactions and does not require the user to share his/her banking details to strangers.
  • Customers can register on the Allahabad UPI App through a simple registration process and generate a UPI Id or a VPA (Virtual Payment Address). After getting the UPI ID, the need for providing additional banking details is completely eliminated thus securing the user from any potential fraud or theft of funds or identity.
  • Funds are transferred through UPI on a real time basis. Such mode is thus preferable over the traditional modes like NEFT/RTGS where the customer has to wait for some time for the payments to be processed and effected.
  • UPI is also available to the customers throughout the day unlike the traditional funds transfer mode like NEFT/ RTGS
  • UPI does not require any card to execute the transactions and hence there is no possibility of the card being stolen or lost.
  • Customers do not have to register the payee prior to sending or transferring the funds as in the traditional mode of online funds transfer.

Allahabad Bank UPI Benefits

Allahabad Bank UPI is very easily accessible to all its customers. Customers have to just download the application and duly register to get access to the UPI format of the bank and its benefits.

Given below are some of the benefits of the UPI feature of Allahabad Bank.

  • Allahabad Bank UPI can be accessible on all the smartphones.
  • The cost of transferring funds through UPI is quite lower as compared to the regular transfer modes like NEFT/RTGS or IMPS.
  • These traditional modes are beneficial in case of transfer of funds in higher volumes. UPI on the other hand has made it easier to transfer funds of even lower volumes.
  • UPI has helped the customers to reduce their dependence on cash transactions as well as net banking.
  • Customers of Allahabad Bank can access or make payments to multiple banks through a single UPI Id.
  • UPI transactions require authentication for each payment or funds transfer initiated through a PIN set at the time of registration.

How to register for Allahabad Bank UPI?

The registration process for the UPI feature of Allahabad Bank is very simple and basic as mentioned above. The detailed steps for the same are mentioned below.

  • Customers can download the mobile application for Allahabad Bank UPI from the Google Playstore or the Apple Store.
  • The next step is to register with the downloaded application using the mobile number and the account number or the debit card number.
  • Customers can then go to the UPI option on the application and select the same.
  • After selecting the UPI option, customers have to provide a username which will be used to identify the customer.
  • Post providing the username, customers will be asked to provide a 4 digit or 6 digit PIN and then re-enter the same to confirm it.
  • Customers will then be asked to provide an OTP sent to their registered mobile number or the email as selected to authenticate the request to set up the UPI PIN.
  • Once the request is verified and accepted, the customer will receive a message confirming the same.

How to receive funds through Allahabad Bank UPI?

Customers can receive funds instantly through the UPI feature of Allahabad Bank. The process of receiving such funds is detailed hereunder.

  • The first step is to login to the UPI application of Allahabad Bank.
  • After logging in, customers can then select the option to collect money and then enter the virtual id of the remitter/payer’s of funds and confirm the same.
  • After confirming the id of the remitter, the next step is to click on the notification received on the registered mobile of the payer and open the UPI application for the review of payment request.
  • The next step is to accept or decline the request and if the request is accepted, the transaction will have to be authorized by entering the UPI PIN.
  • Upon completion of the transaction, customers will get a notification informing the success or the failure of the same as well as an SMS from the bank informing the credit of funds to the account.

How to make payments through Allahabad Bank UPI?

The process to make payments through Allahabad Bank UPI is similar to that of receiving it as discussed above. The details of the same are further mentioned below.

  • The first step to make payment through UPI is to login to the application and then select the Send Payment option
  • Next step is to enter the details of the beneficiary’s virtual payment id, the amount to be paid and the account to be debited.
  • Customers will be asked to confirm the details entered before the payment request will be processed.
  • After confirming the details, the user will have to enter the PIN to authenticate the request and process the payment to the payee.
  • Customers will get a confirmation status for the payment done denoting the success or the failure of the same.

Possible Transactions via Allahabad Bank UPI

The UPI feature of the Bank has become a very popular feature among its customers. It has very effectively replaced the traditional mode of funds transfer and reduced the dependency on net banking.

Following are the types of transactions that can be done through the UPI application of Allahabad Bank.

Funds Transfer

Allahabad Bank’s UPI mode can be used to transfer funds to any accounts within the bank as well as to any other bank that has the UPI enabled payments features.

Payments of Bills or Utilities

Another important feature of the UPI application of Allahabad Bank is that it allows its customers to make payments towards the various utilities like gas bills, electricity bills, water bills and many other payments like recharges, etc.

Payments to Merchant 

Customers can also make payments to merchants at online shopping or directly at the merchants place through their Allahabad Bank UPI id. This enables the customers to make digital payments in real time without the need to divulge any bank account details and also reduces the dependence on cash transactions eventually.

Allahabad Bank UPI Transaction Limits

Allahabad Bank like any other UPI enabled payments portal has set certain transaction limits that have to be adhered to by its customers. These transaction limits enable in controlling the volume of the transactions as well as their value. Allahabad Bank does not have a transaction limit set on the weekly basis or monthly basis. However, the Bank does have restrictions on the value of every transaction made as well as on the daily limit of such transactions.

The details of the restrictions mentioned above are tabled hereunder.

Basis of Restriction

Limit Imposed

Maximum Value of Each Transaction 

Rs. 25,000

Maximum Value of Transactions Per Day 

Rs. 1,00,000

FAQs – Allahabad Bank UPI

1. What is the maximum number of digits that can be used to set a UPI PIN?

UPI PIN is a unique verification code that is used to authenticate the payments or receipt of funds. It is a 4 digit or 6 digit code that is unique to each UPI account and is selected by the account holder.

2. What is the maximum number of UPI transactions that are allowed per account holder per day using Allahabad Bank UPI?

The maximum number of transactions that can be allowed to each account holder of Allahabad Bank per day are restricted to 10 transactions or Rs. 1,00,000 whichever is crossed earlier.

3. Can Allahabad Bank UPI ID be used to make payments or receive funds from any other bank or merchant outside the Bank?

Yes. Customers can use the Allahabad Bank UPI id to send and receive funds from one bank account to another within the same bank or any other bank or even to merchants partnered with UPI application.

4. Can Allahabad Bank UPI be activated through the mobile application of Allahabad Bank?

Yes. Customers can easily activate the UPI feature of Allahabad Bank through its mobile application.

5. Is the UPI Pin the same as the ATM PIN?

No. UPI PIN is the authentication code used to verify the funds transfer request through the UPI application whereas the ATM PIN is used to authenticate the request to withdraw cash from the ATM machine.

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