Transaction limit

Transaction limit is the maximum amount your bank or UPI app lets you send in one payment or one day. A low limit softens a fraud.

Transaction limit: A transaction limit is a cap on how much money can be sent from your account or card in a single transaction or in a day. Banks, UPI apps and card networks set default limits, and many let you lower them yourself for safety.

Most people leave the default limits as they are. But a lower limit works like a brake. If a fraudster gets hold of your phone or tricks you, the damage stops at the cap. You can often set separate limits for UPI, net banking, card swipes, online use and international use, in your bank's official app. Most banks let you change limits in minutes through the official app.

Choose limits that match your real habits. If you never send more than Rs 20,000 a day, set it close to that. Raise it temporarily when you need to make a big payment, and lower it again afterwards. Limits do not replace careful checking, but they reduce the cost of a mistake. Review your limits once or twice a year, because habits change over time.

Tips

• Set daily limits in your bank app that match your real spending.
• Switch off international and online card use when you do not need it.
• Raise a limit only for a planned payment and lower it afterwards.

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