Punjab & Sind Bank UPI – Registration, Limit, Send/Receive Money

PSB UNIC UPI application by Punjab and Sind Bank allows customers to link their bank accounts to avail UPI services such as sending or receiving money, adding multiple bank accounts under this application, adding beneficiaries, etc. This facility is free of cost. Not just this, customers who do not hold an account in Punjab and Sind Bank can also use this application to send/receive money.

There is no need to enter the account details of the beneficiary to send money anymore. The facility provides fund transfers through VPA as well. It is available at all times of the day and year. For PSB customers to avail this facility, it is mandatory to register to start availing UPI facilities.

The application provides users with multiple features. Mentioned below are some features of PSB UNIC BHIM UPI:

• The application uses two-factor authentication for enhanced security
• Can be used by non-PSB customers
• Users can add multiple bank accounts
• The facility is free of cost
• Facility to check the balance of the linked account
• Block your VPA
• Making payments to merchants just by entering the UPI PIN

Also Read: Unified Payments Interface

Type of Transaction	Transaction Limit
Transaction limit per day	Rs. 1,00,000
Maximum number of transactions allowed in a day	No limit
Number of transactions allowed through third-party UPI apps	10
IPO limit	Rs. 5,00,000
For categories like Capital Markets, Collections, Insurance, Foreign Inward Remittances	Rs. 2,00,000

To register for Punjab and Sind Bank UPI, customers will have to register for mobile banking first on the PSB UNIC app and they may follow the below-mentioned points to register on UPI:

Step 1: The user needs to create a VPA (Virtual Payment Address). The VPA can be made of your choice. However, the VPA format of PSB is name@psb.

Step 2: The user can link one VPA to multiple bank accounts.

Step 3: Once you have created your VPA, the next step is to link your bank account and generate your UPI PIN by validating your debit card details.

It is to be noted that you should register for UPI from your registered mobile number with the bank.

Step 4: Upon linking your bank account, you can start transferring and collecting funds.

PSB UNIC application allows users to send money through BHIM UPI in the application. The user can refer to various ways to send/receive money such as through UPI ID, scanning the QR code or using a bank account. The below-mentioned steps explain how can send money through UPI in the PSB UNIC app:

Step 1: In the PSB UNIC application, tap on the ‘BHIM UPI’ option.

Step 2: You can choose from the provided ways of sending money.

Step 3: Select the option you want to send money through.

Step 4: Enter the UPI PIN to authenticate your transaction.

Step 5: Upon entering the UPI PIN, your transaction will be processed.

Punjab & Sind Bank savings account holders should ensure the below-mentioned details before they set out to receive/collect money using the PSB UNIC app:

• Add your registered mobile number to the application at the time of verification
• Choose the application passcode
• Link your bank account
• Set your UPI PIN. It will require you to enter the last 6 digits of your debit card and the expiry date of your debit card
• Form your UPI ID

Following process explains how one can receive/collect money using the PSB UNIC app:

Step 1: Login to the PSB UNIC app.

Step 2: Tap on the ‘BHIM UPI’ option on the home screen.

Step 3: On the next screen, tap on ‘Request Money’.

Step 4: Enter the details of the payer as asked by the bank.

Step 5: Set the expiry date of the transaction and initiate the request.

A message will be sent to the payer regarding the collect money request. Once the payer accepts the request initiated, the amount will be transferred to your account.

In case the customer faces any issues regarding UPI, the customer can call the bank on the bank’s toll-free number 1800-419-8300.

Suggested Read: Punjab & Sind Bank Customer Care

Q. What are the things that I require for using PSB UPI?

Ans. While you register for PSB UPI, you need to have these handy:

• A smartphone
• Operative bank account which is linked to your mobile number
• A debit card for creating UPI PIN

Q. How many virtual addresses can I keep for an account?

Ans. For a given account, you can keep a maximum of 10 virtual addresses.

Q. Can I transfer money abroad using UPI in PSB?

Ans. No. As of now, you can only make domestic transactions.

Q. What is the way to track my transactions?

Ans. You can click on transaction status to track your transactions.

Q. What is the process to de-register from UPI in PSB?

Ans. To de-register from UPI in PSB, follow the process: Login into the application > Choose the option ‘Others’ > De-register. You will be de-registered from UPI. However, it is to be noted that once you de-register, you will not be able to use the same UPI ID again.

Q. What all things should I ensure before sending or collecting money from someone?

Ans. Before selecting or collecting money from someone, you should check the following after entering the VPA. Once the VPA is validated by the application, you will know the actual name of the beneficiary. You may proceed with your transaction then.

Q. I want to change my UPI PIN of Punjab & Sind Bank, how can I do so?

Ans. To change your UPI PIN, you can follow the said process. Login to the app > Go to the ‘Menu’ option >Tap on ‘My Accounts’ > Change UPI PIN. Enter your old UPI PIN, set your new UPI PIN and click on Submit.