Bank revises UPI terms and conditions
Unified Payment Interface has become the preferred platform to make transactions these days. With the increasing penetration of UPI, its users must be aware of any changes in the terms and conditions of its usage. Recently, India’s largest private lender HDFC Bank informed that it has revised the Terms and Conditions for its UPI.
On its website, the bank is flashing a ticker running on the homepage which reads, “We have updated our Terms & Conditions for UPI. Please click here to read our revised T&Cs.” Bank customers who wish to make payments using UPI can do so.
They must note that there’s a daily transaction limit of Rs 1 lakh or ten transactions, determined on a 24-hour basis. The 10-transaction rule is exclusively for fund transfers and excludes bill pay and merchant transactions.
Further, new UPI users or the one who have recently changed their device/sim/mobile number will only be eligible to transact up to Rs 5,000 during the first 24 hours on an Android phone and 72 hours on an iPhone.
Take a look at HDFC Bank’s UPI T&C:
Users seeking registration on Bank’s App or TPAP’s App
1. Such Users who are desirous of availing the UPI Facility through the Bank’s App, shall by way of a one-time registration, in such form, manner and substance as Bank may prescribe, apply for UPI Facility and Bank shall be entitled, at its sole discretion, to accept or reject such applications.
2. The Users applying through TPAP’s App will be required to follow the steps on the TPAP’s App.
3. On the Bank’s App, the User will have an option to set a virtual payment address and initiate transaction via UPI.
4. User can link other bank accounts through a one-time registration process defined and standardised by NPCI and then start transacting on th5. By applying for and accessing the UPI Facility, the User accepts these Terms, which shall govern the provision of the Services by the Bank.
5. By applying for and accessing the UPI Facility, the User accepts these Terms, which shall govern the provision of the Services by the Bank.
6. The Terms shall be in addition to and not in derogation of the Guidelines issued from time to time.
1. User’s act of directly or indirectly, accessing, using and/or taking benefit of the Services of the Bank or any part thereof under the UPI Framework
, shall by itself (without any further act, deed or writing and without any signature required), amount to User’s irrevocable and unconditional acceptance of the Terms and such access, use or benefit shall by itself further act as the confirmation of the User having read and understood and irrevocably and unconditionally accepted the Terms.
2. The User has accordingly accepted the Terms as above.
Rights and Obligations of the User as a Payer
1. The User shall be entitled, subject to other terms and conditions of the Service, to issue Payment Orders.
2. The User shall be responsible for the accuracy of the particulars given in the Payment Order for UPI Facility and shall be liable to compensate Bank for any loss arising on account of any error in the Payment Order.
3. Bank disclaims all liability for execution of any Payment Order in good faith and in compliance with the instructions given by the User.
4. The User authorises the Bank to act as a PSP, irrespective of whether the User is registered through the Bank or the TPAP, and initiate process for debiting relevant account(s) of the User as per instructions received by way of Payment Orders. The User understands that although multiple bank accounts can be linked with the UPI Facility, debit/credit transactions can be done from the default account. User may change the default account before initiating such debit/credit transactions.
5. Each Account that may be linked with the UPI facility can be opened with a separate username / Virtual Payment Address (“VPA).
6. The User shall ensure availability of funds in his aforesaid account(s) towards the fulfillment of the Payment Order before/at the time of the execution of the Payment Order.
7. The User hereby irrevocably authorises Bank to debit the account(s) of the User held with the Bank, for any liability incurred by the Bank on behalf of the User for execution of the instruction issued by the User. The User understands and agrees that once a fund collection request is accepted, the default account will automatically be credited with such amounts as may be mentioned in the fund collection request. The User understands and agrees that such amounts once credited to default account cannot be reversed by the User.
8. The User agrees that the Payment Order shall become irrevocable when it is issued.
9. The User agrees that he shall not be entitled to make any claim against RBI and/or NPCI in respect to the UPI Facility.
10. The User agrees that in the event of any delay or non- completion of the funds transfer or any resultant loss pursuant to a Payment Order, due to any down-times or technical glitches or errors, the Bank shall have no liability whatsoever with respect to the same.
11. The User shall provide correct beneficiary details to Bank at the time of availing the UPI Facility. The User shall be solely responsible for entering wrong or discrepant beneficiary details like incorrect Virtual Payment Address, incorrect Aadhar number or incorrect mobile number, due to which the fund are transferred to an incorrect beneficiary.
12. The User shall not hold Bank responsible for any damage, claim, issue arising out or in connection with any purchase of goods/services from Merchants through Payment Orders issued by UPI Facility. The User understands and agrees that all such losses, damages and issues shall constitute a claim against such Merchants.
13. The User agrees that the UPI Facility is offered in line with the RBI’s guidelines on mobile banking, UPI Guidelines and all other relevant guidelines/circulars issued by RBI/NPCI which are subject to change from time to time, and the User needs to keep himself updated.
14. User shall inform Bank immediately of any inquiry, question or issue raised by any authority including but not limited to any statutory authority or official regarding and relating to Bank, as well as expeditiously notify Bank of any show causes, seizure or similar action and provide copies of any notices, memos, correspondences received from such authority. User shall not unilaterally file any response / reply to such an authority without the prior approval and vetting by Bank.
15. The User shall be solely liable for ensuring availability of sufficient funds in the Account(s) at all times for the purpose of availing the Facility. The User agrees that in the event there are insufficient funds in the Account, Bank shall decline the transaction instruction.
Sharing and Processing of Information and User Data and Other Consents
1. This Clause shall override any terms and conditions, contracts, agreements which the User has entered into with any of the TPAPs or Business Associates, which are to the contrary or inconsistent with any part of this Clause or which restricts the rights of the Bank to process or use or share or store any data or information as per this Clause.
Additionally, the User further:
1. authorises the Bank and the Business Associates, to access, receive or collect, the User Data from records, systems or logs, of or operated/held/maintained for the Bank or it’s Business Associates, as may be or become available with/to it/any of them from time to time, for or during or pursuant to the Services/UPI Facility or thereafter, and to use, share, store, profile or process, all such data either by itself or by mixing it with other data, for any of the Purposes,
2. authorises the Bank to access, receive or collect the User Data from any TPAPs or their Business Associates or any other participant in the UPI Framework, and to use, share, store, profile or process, all such data either by itself or by mixing it with other data, for any of the Purposes,
3. through the Bank, further authorises such TPAPs, the Business Associates or any other participants in the UPI Framework, to so share the User Data any other information related to users available with them, with the Bank and/or the Business Associates, for the Bank to use, share, store, profile or prrocess, all such data or information either by itself or by mixing it with other data, for any of the Purposes,
4. hereby expresses interest in the Interested Products and requests the Bankto assess the User for the same including by obtaining credit information reports or other information from the credit information companies or persons engaged in generating scores or reports in relation to creditworthiness or fraud prevention or detection,
5. authorises the Bank and Business Associates to collect, obtain, receive, request for, seek, any Personal Data or other information or reports of or related to the User from any person or other sources, whether public or private, online or offline, including as required as the agent of the User, including from any credit information companies, and for this purpose, to share any User Data or other information related to the User with any such sources or persons, and to further process any of the aforesaid so obtained, for any of the Purposes,
6. authorises the Bank and Business Associates to undertake any such processing or sharing of data or information as mentioned in this Clause, by such means as the Bank may deem fit whether manual or automated or otherwise, whether by running or deploying analytics, algorithms or logics with artificial intelligence techniques or not,
7. authorises the Bank and Business Associates to store, preserve and retain any of the aforesaid data or information mentioned in (a) to (e) above including the User Data, or any part thereof, for such period of time as the Bank may need to do so for assessing or making offers or marketing the User for the Interest Products or as per Applicable Law, whichever is later.
8. authorises the Bank, TPAP and/or the Business Associates, any credit information companies, to use, store, profile or process any of the aforesaid data or information mentioned in (a) to (e) above including the User Data, or any part thereof, and to share any of that with any of their service providers, for or towards any of the following purposes (collectively, “Purposes”), and to undertake any of the activities or steps or communications, either by themselves or through any service providers or Business Associates, towards or for fulfilling or performing any of the Purposes:
Dispute Redressal Mechanism
1. UPI app customers being the end-Users (“End-Users”) can raise a complaint with respect to a UPI transaction, on the PSP app / TPAP app.
2. End-User can select the relevant UPI transaction and raise a complaint in relation thereto.
3. A complaint shall be first raised with the relevant TPAP in respect to all UPI related grievances / complaints of the End-Users on-boarded by the PSP Bank/ TPAP (if the UPI transaction is made through TPAP app). In case the complaint / grievance remains unresolved, the next level for escalation will be the PSP Bank, followed by the bank (where the End-User maintains its account) and NPCI, in the same order. After exercising these options, User can approach the Banking Ombudsman and / or the Ombudsman for Digital Complaints, as the case may be.
4. The complaint can be raised for both the types of transactions i.e. fund transfer and merchant transactions.
5. The End-User shall be kept communicated by the PSP / TPAP by means of updating the status of such End-User’s complaint on the relevant app itself.
1. The User understands that UPI Facility may become unavailable due support or technical upgradation, maintenance work, in order to update the content or for any other reason.
For more details, users can visit – https://www.hdfcbank.com/personal/pay/money-transfer/unified-payment-interface