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Introduction
Jio recently forayed into the digital payment services. They launched the Jio Payments Bank in 2018 to offer payment services using UPI linked with your Jio account. Jio Finance can be accessed from the My Jio App on your smartphone. It allows you to make bill payments, mobile recharges, online shopping, and banking transactions.
Jio Finance is the payments and financial services that can be accessed through your My Jio App. Jio Finance is easy to register and start using. It is linked directly with your bank account and lets you pay for your purchases directly from your bank account. It also works with any operator; 2G, 3G or 4G networks. What more! Customers can also avail offers and discounts for their purchases and bill payments.
How do I open my Jio Finance Account?
- Login to your My Jio App
- Go to the ‘Finance’ section
- You will be required to verify the phone number. An OTP will be sent for authentication.
- Upon authentication, your Jio Finance services are ready for use.
- You can start paying bills and transfer money.
Jio Payments Bank
Jio Payments Bank is an Indian payments bank that was launched in 2018. It is a collaboration between Reliance Industries and the State Bank of India in a 70:30 ratio. With Jio Payments Bank, customers can pay bills, make recharges, book your travels and many more.
You can open your Jio Payments Bank account in an instant. There is no documentation required. You also get attractive discounts and regular offers from your favourite brands.
Key Features of Jio Payments Bank
- Can be opened and operated by every Indian citizen over the age of 18 years
- Completely online account with paperless processing
- Access your account on the My Jio App or at your nearest Jio Payments Bank Outlets
- Transactions at Jio Payments Bank Outlets are secured with Aadhaar based fingerprint authentication. So your money is very safe.
- Get highest interest rate of 4% per annum on your savings bank account
- No charges or fees to open your account
- No minimum balance requirement
- Transfer funds to other Jio Payments Bank accounts or other bank accounts from your mobile app for free of charge
How to open my Jio Payments bank account?
- Jio Payments Bank is available on your My Jio App
- Login to your My Jio App
- Choose the ‘Bank’ option
- You will be required to verify the phone number. An OTP will be sent for authentication.
- Upon authentication, your Jio Payment Bank services are ready for use.
- You can start paying bills, transfer money and enjoy a host of benefits with your new account.
Jio UPI
Jio UPI is the latest offering from Reliance Industries. With Jio Payments Bank and Jio Finance already making their rounds with digital payments, Jio UPI is the latest addition to the digital payments and financial services segment of Reliance Industries.
All Jio users can now avail Jio UPI. It is readily available on the My Jio App. The registration and activation process take just a few simple clicks. The highlight is, non-users of Jio Payments Bank and Jio Finance can also use Jio UPI for their payments and money transfer services.
- Jio UPI is based on the NPCI. It is linked to the Indian UPI interface for fast and secure banking transactions.
- Jio UPI can be linked to multiple accounts under your name.
- Bank accounts linked with other UPIs can also be linked to Jio UPI.
- Create your own UPI ID on the My Jio App to use for Jio UPI
- Jio UPI Id can be linked to Savings, Current or Overdraft accounts.
- All billers under the Bharat Bill Pay System are available under Jio UPI
- Non-users of Jio number can also create a Jio UPI Id.
Jio UPI transaction limits during the first 24 hours of performing 1st Jio UPI transaction
Details | Limit | Send | Receive |
Amount Limit | Minimum Transaction Amount | Rs. 1 | Rs. 1 |
Amount Limit | Maximum Transaction Amount | Rs.5000 | Rs.5000 |
No of Transactions limit | Minimum Number of Transaction per day(irrespective of the number of Banks linked to your UPI ID) | No limit | No limit |
No of Transactions limit | Maximum Number of Transaction per day (irrespective of the number of Banks linked to your UPI ID) | 5 | 5 |
Jio UPI transaction limits after 24 hours of performing 1st Jio UPI transaction
Details | Limit | Send P2P | Send P2M | Receive |
Amount Limit | Minimum Transaction Amount | Rs. 1 | Rs. 1 | Rs. 1 |
Amount Limit | Maximum Transaction Amount | Rs. 5000 | Rs. 1 Lakh | Rs. 1 Lakh |
No of Transactions limit | Minimum Number of Transaction per day (irrespective of the number of Banks linked to your UPI ID) | No limit | No limit | No limit |
No of Transactions limit | Maximum Number of Transaction per day(irrespective of the number of Banks linked to your UPI ID) | 5 | No limit | 5 |
How to set up your Jio UPI handle?
- Login to your My Jio App and tap on the UPI icon
- Tap on ‘Let’s get started’
- You will be taken to device verification. You will be required to choose the phone number that is linked with the bank account you are going to register with the Jio UPI.
- Initiate Device Binding.
- Once it is done, you will be asked to set an MPIN. You can also choose to set Fingerprint ID or Touch ID for additional security.
- The next step is to link the bank accounts you want to use for your Jio UPI
- Once you have chosen the bank, you will be required to confirm the MPIN to complete linking.
- You are now set and ready to use your Jio UPI!
How to make Jio Recharges using Jio Money?
- Login to your My Jio App.
- Choose the mobile number which needs to be recharged.
- Click on ‘Recharge’ to see the current plans and offers.
- Choose the best plan to suit your needs and click on ‘Buy’.
- You will be taken to the payment screen.
- Choose ‘Jio Money’ as the payment option.
- The amount is debited from your Jio Money wallet and the recharge is successful.
How to pay bills using Jio Money?
You can now conveniently pay bills for various services using Jio Money through the My Jio App.
- Login to your My Jio App.
- Choose ‘Finance’ from the top menu bar.
- It will display the billers available for bill payment.
- Choose the biller to whom you want to pay.
- Tap on proceed to initiate the bill payment
- Check the details of the bill and click on Pay Bill.
- The bill payment is done.
Jio AutoPay
Jio AutoPay is an auto pay facility that will allow you to recharge your mobile number through standing instructions on your credit card or bank account. This linking is effected based on your Aadhaar authentication.
- You can set Jio AutoPay from Jio.com or My Jio App.
- The standing instruction shall be presented to your bank or credit card company 5 days before the expiration of your current plan.
- Jio Autopay is applicable only for recharge plans. You cannot set auto pay for Add-on / Top Up / ISD / roaming packs.
- You will be notified at every step of the auto pay process. You will get regular emails and SMS about the process.
FAQs
1. What are the ID proofs I will require to open a Jio Payments Bank account?
You just require your Aadhaar Card and PAN number to open a Jio Payments Bank account.
2. What will happen if I don’t use the Jio Payments Bank account and leave it inactive?
There are no penalties for inactive accounts. You can use the account whenever you want. It has lifelong validity.
3. Is the Jio Payments Bank account secure and safe for transactions?
Your Jio Payments Bank account is secure from unauthorised access by having password and mPIN access to your account. This guarantees that your account is safe even in case you lose your phone by accident.
- If you are transacting at any of the Jio Payments Bank outlets, you will be required to authenticate with your fingerprint to avoid any unwanted access to your account.
- All Its systems are PCI DSS compatible, meaning that the data is kept safely.
4. Is a smartphone compulsory to register and use a Jio Payments Bank account?
No, you don’t need a smartphone to open an account with Jio Payments Bank. You can conveniently bank at any of the outlets near you.
5. What are the advantages of using Jio UPI?
Jio launched BHIM UPI features within the MyJio app. With this feature, you can build your own Jio UPI by linking any Savings, Current or Overdraft account to it and using it as a mode of payment for transactions. You can conduct a variety of transactions using the Jio UPI, such as instant money transfers from one bank to another, Bill Payment, Recharge, and so you can even pay traders who recognize UPI as payment mode.
6. Can I create a Jio UPI even if I don’t have a Jio number?
It is not available right now. You will be able to create a Jio UPI ID only if you are a MyJio or JioMoney customer.
7. Can I use my existing UPI ID with another bank for my JIO UPI too?
You would need to set up a special Jio handle to use the UPI service in MyJio App by connecting your Savings, Current or Overdraft Account. Any current UPI ID is not valid.
8. How many banks will I be able to connect to MyJio 's UPI ID account?
The number of bank accounts you may connect to MyJio isn't really capped. Please ensure, however, that the bank account you attempt to connect to MyJio should be connected to the mobile number used when the UPI account is established. UPI retrieves the telephone number used for building a UPI account for the bank account.
9. What information do I include for the Jio Financial Service (JFS) bill payment? What documents do Jio Financial Service consumers need?
You will need to authenticate with an OTP while registering for Jio Financial Services. Please also confirm that your registration number for these facilities is on the phone. You can use Jio Recharges and Bill Payments after enrolment.
10. Is Jio Payments Bank or wallet transactions connected to Jio Financial Service?
They're not related. No. The MyJio App 's financial tab allows you to access your Jio Payments Bank account or JioMoney Wallet. Jio Financial Services for Jio Recharges and bill payments can also be used separately however.