New Delhi: These days, the Unified Payment Interface (UPI) is the preferred method of transaction. With UPI's growing popularity, users should be aware of any modifications to the terms and conditions of use. HDFC Bank, India's largest private lender, recently announced that it had amended its UPI Terms & Conditions.


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The bank has a ticker running on the homepage of its website that reads, "Our UPI Terms & Conditions have been changed. Please read our updated terms and conditions by clicking here." Bank customers that want to use UPI to make payments can do so.


Users should be aware that there is a daily transaction restriction of Rs 1 lakh or ten transactions per day, which is calculated on a 24-hour basis. The 10-transaction limitation only applies to fund transfers and does not apply to bill payments or merchant transactions.


Furthermore, during the first 24 hours on an Android phone and 72 hours on an iPhone, new UPI users or those who have recently changed their device/sim/mobile number will only be able to transact up to Rs 5,000.


Here’s what HDFC Bank's UPI T&C says:


Users asking for registration on Bank's App or TPAP's App


1. Users who wish to use the UPI Facility through the Bank's App must complete a one-time registration in the form, manner, and substance prescribed by the Bank, and the Bank reserves the right to accept or reject such applications at its sole discretion.


2. Users who apply through the TPAP App must follow the processes outlined on the TPAP App.


3. The User will be able to create a virtual payment address and initiate transactions using UPI through the Bank's app.


4. Users can join their other bank accounts through a one-time registration process specified and standardised by NPCI, and then begin transacting with them.


5. By applying for and using the UPI Facility, the User agrees to be bound by these Terms, which govern the Bank's provision of services.


6.The Terms are in addition to, not in place of, the Guidelines as they are released from time to time.


Acceptance


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.As a result, the User has agreed to the Terms as stated above.


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