BHIM UPI App: How to link bank accounts, pay via app, banks supported and more. Here’s everything you need to know.
Written by Shruti Dhapola
Prime Minister Narendra Modi has announced a new digital payments app called BHIM based on the Unified Payments Interface (UPI). The app is currently available only on Android; so iOS, Windows mobile users etc are left out. BHIM is also supposed to support Aadhaar-based payments, where transactions will be possible just with a fingerprint impression, but that facility is yet to roll out.
So what can BHIM app do?
BHIM is a digital payments solution app based on Unified Payments Interface (UPI) from the National Payments Corporation of India (NPCI). If you have signed up for UPI based payments on your respective bank account, which is also linked to your mobile number, then you’ll be able to use the BHIM app to conduct digital transactions.
Bhim App: How To Use?
BHIM app will let you send and receive money to other non-UPI accounts or addresses. You can also send money via IFSC and MMID code to users, who don’t have a UPI-based bank account. Additionally, there’s the option of scanning a QR code and making a direct payment. Users can create their own QR code for a certain fixed amount of money, and then the merchant can scan it and the deduction will be made.
So BHIM app is like another mobile wallet?
No, BHIM app is not a mobile wallet. In case of mobile wallets like Paytm or MobiKwik you store a limited amount of money on the app, that can only be sent to someone who is using the same wallet. So if I have a Paytm account it won’t be possible for me to send money to someone on MobiKwik.
But BHIM is based on UPI, which is the Universal Payments Interface and thus linked directly to a bank account. Your friend, relative or even a merchant who you’re trying to pay doesn’t necessarily need to be on the BHIM app. All they need is a bank account to receive the payment.
If they have UPI activated, you can just ask for their VPA or virtual payment address, and just make a payment to that account. So for instance, if I have a VPA at SBI which could be called shrutid@SBI, then I can just send my friend that bit of information and he/she can transfer it straight from BHIM. Otherwise there’s the option of IFSC code or MMID for sending/ receiving money.
The advantage is I don’t need to remember my account number or share that with everyone. This VPA is all that is needed to transfer funds. A maximum of Rs 10,000 can be shared per transaction, and a total of Rs 20,000 can be sent within 24 hours.
Which banks are supported by BHIM app?
There’s a pretty comprehensive list of banks that are supporting BHIM app for UPI-based payments. The list includes Allahabad Bank, Andhra Bank, Axis Bank, Bank of Baroda, Bank of Maharashtra, Canara Bank, Catholic Syrian Bank, Central Bank of India, DCB Bank, Dena Bank, Federal Bank, HDFC Bank, ICICI Bank, IDBI Bank, IDFC Bank, Indian Bank, Indian Overseas Bank, IndusInd Bank, Karnataka Bank, Karur Vysya Bank, Kotak Mahindra Bank, Oriental Bank of Commerce, Punjab National Bank, RBL Bank, South Indian Bank, Standard Chartered Bank, State Bank of India, Syndicate Bank, Union Bank of India, United Bank of India, and Vijaya Bank.
So exactly does BHIM work? How many accounts can I link to the BHIM app to make payments?
BHIM lets you choose your preferred bank after it has verified your mobile number. The app sends an SMS via the SIM in your phone. So it is best if your phone has the same mobile number as the one that is linked to a bank account.
Make sure there is enough balance for BHIM to send out an SMS. In our case, we’ve gotten some cases of device binding failure, but after a couple of tries the app got synced in one of phones. The app will then ask you to set a passcode (4 digit), which you can choose. Keep something you don’t forget easily because you will need the code every time you open the app and to authenticate the transaction.