BHIM App UPI - Kaise Use Karein? - YouTube

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Namashkar, my name is Mukul and welcome to Asset Yogi.

Friends in today's video we will talk about the BHIM app.

What types of features you will get in it?

We will see a small demo.

We will try to know about the benefits of the BHIM app.

We will also talk about its limitations.

BHIM app is a UPI app. UPI means Unified Payments Interface

I have done a video about UPI, in which I discussed the 11 big benefits of UPI.

If you haven't watched that video then please watch it. You will get the link in the description below.

In this video, we will see a quick demo of the BHIM app. Stay tuned with this video.

So let's go straight to our BHIM app. See I have opened the BHIM app,

you only have to enter your pin. After that, you can link any of the accounts.

Now we will also see how to link an account or how to change the bank?

See I have linked my Axis bank account here. Keep one thing in mind, you can use only one bank account at a time.

Definitely, you can add multiple accounts in your BHIM app.

But you can only use one main active account at a time.

So now for eg. I am using an Axis bank account here. I will also show you how to switch to another bank.

Or you can change your bank accounts also.

So here we will see features one by one quickly.

Above all, you will get the feature of SEND. If you want to send money to anyone.

Suppose you have to send money to your friend or relative then you can di it through the send feature.

You only need is the mobile number that is linked to any bank, which has a UPI ID.

So you can enter that mobile number here or you can enter the UPI ID.

Let's say if someone's name is Rahul, he might have created his UPI id as rahul@upi.

So you can enter that here. You can go to contacts from here if someone's account is linked then you can select from there.

If anyone doesn't have a UPI ID, even then you can find their details by their account or IFSC code

This means that by entering someone's account no. and IFSC code, you can transfer money to them.

It's not at all necessary that to whom you are transferring money should have a UPI ID

or any app like the Bhim app, Google pay or any other app.

See here you will get direct options of account+IFSC code. All the major banks are listed with the BHIM app.

So you will not face any problem as most of the banks are listed here.

So here, you can send money not only to friends and relatives but, also to the merchants.

Suppose if you buy something then you just get his UPI id and transfer the money.

So we saw the option of SEND money.

The second option you have is REQUEST money.

If you want to get some money from a friend so then what will you do?

You just enter his UPI id and amount, so he will get a message. He will just enter his pin and you will get the money.

Similarly, if you are a shopkeeper or you have a business and you want to get money from someone.

So then also you can request money. You need to enter his UPI id and amount then a message will reach them.

He will enter his pin and money will be credited to your account.

So you will also get the option of Request money here.

The third option you gets is SCAN. Here if you want to scan any QR code. If you buy anything from a merchant,

so there you mostly find QR codes, some have Paytm, some have Phonepay

and some may have QR codes of another app.

By scanning QR codes you can also transfer the money.

So let's come downward, there you will find the option of BILL PAY.

From here you can pay the bills of anything automatically.

You have options for payment of broadband, direct to home(DTH) if you have a TV connection,

electricity bill, gas bill, landline postpaid, mobile postpaid and water bill options you will get here.

All the billers of the major cities are added here so you can deposit here.

In fact, I also pay all my bills like mobile postpaid, electricity bill, water bill from here only.

Let's see the other options as well.

As we move further down then we will find the option of UPI MANDATE. It is a new option in UPI 2.

Here, if you go to 'create mandate' then enter the mobile number or the UPI id to whom you want to send money

on a regular basis that can be entered here.

So see this, I have entered my UPI id and here you will enter your amount let's say if I want to transact Rs 100.

Now see here, the frequency is showing only one time. I even don't know why this is happening.

If I transfer money to someone frequently then it should probably show multiple.

It may be possible that this option is not developed completely.

Here I will see by selecting the one time option. Next, it will show you the validity

that means for how much time you have to send this money.

So here you can enter your end date, let's say it's till 31 May.

So we can put for the next 2-3 days.

And remarks, let's say you have to send rent to anyone on a regular basis or an electricity bill or broadband bill.

You can enter here in remarks and after that, you can proceed further.

So you will get the details, you can proceed with it. Then you will enter your UPI pin then your transaction will get started.

Let's see the rest of the options.

We have seen the UPI MANDATE. Now see below, we have the option of transactions.

So the details of all the past transactions are available here and if we go into transactions.

If you go into Profile then you will get your details, QR code, and UPI id.

If you have to give your UPI id then you will find it from here.

After that, you can check your bank account details from here.

You'll get your linked bank account details

And I have also linked another account so if I want then I can set it as the default account also

And you have to add these accounts from the 3 dots above

So click on 'Change bank account' and then proceed further

Here you will get the list of all the banks attached with the BHIM

After that, you can first select your bank and then enter your account number

Here, you got the details of all the banks

Let me select AXIS BANK and click on 'next'

So I have already linked one of my bank accounts and I can link another one also if I want, so when I click on it

So my account is changed now

So let me scroll down and let's get back to bank account

So as you can see, 3 accounts are available and I can set anyone as the default account

So as I told you before, one account is main. So keep this in mind.

Apart from this, we are getting one more option of MY BENEFICIARIES. And if you click on it

Then you can add UPI Id's

If you want to do frequent transactions with anyone or want to send money

Then you can add that UPIId here so that you don't need to ask for it again and again

As we add details in our online accounts, similarly you can add UPI Id's

And you can also add account + IFSC details here as we add in our online bank account

So we saw all the main features but I want to show one more feature

If you click on the 3 dots given

If you are a merchant or shopkeeper and you want to open an account for your work

Then you can do that as well, click on 'I Am A Merchant'

You'll enter the business/company name, mechant category, merchant address,

And you can link an account

When you add a merchant account, you get a facility to add an overdraft account

As I discussed about overdraft account,

If you have less money in your account but you need to do higher money transactions

So you get that facility

Through BHIM app, you can also avail overdraft account facility

Besides this, if you don't have internet access then also you can do the transaction through BHIM app

If you call on *99#

You get 6-7 options in which you can send money, check balance

For example, if I click on the 3rd option, I can check my account balance

So we discussed all the important features of the BHIM app

So UPI app is very beneficial and I had already discussed its benefits

And let me summarise it again

It doesn't take much time, your transaction get completed within 2-3 seconds

Just like in digital wallets

You can transfer money instantly in Paytm or any other digital wallet

But what is the advantage here?

The money is getting transferred directly from one account to another and its not geeting blocked anywhere in between

So there is no loss of interest and that's why UPI app is very beneficial

There are no transaction charges

If you will transfer money from your account to paytm wallet, then no charges will be applied

But when you transfer back into your account from digital wallet, 3-4% charges are applied

You don't have to pay any such charges because money is getting transferred from one account to another

And you are getting all the options here

You can send money on someone's UPI Id, Mobile Id, if adhaar is linked then you can send through that also

If anyone don't have any app, then also you can send money

You just need account number and IFSC code

So these are all the advantages of BHIM app

But there are a few limitations as well

The daily transaction limit allowed in the BHIM app on today's date is Rs. 40,000

And per transaction limit is Rs. 20,000

But if you want to do transaction of more than this, then you can use online banking otherwise,

You get per day limit of upto Rs.1 lakh in apps like Google Pay, Paytm, or Phonepe

I'll make videos on these apps so do watch them also

So there are some limitations on the transaction limits on BHIM app

And the another limitation is regarding the number of transactions per day

So you can only do 10 transactions per day

Otherwise, you can use online banking for more number of transactions

But there are no limits on merchant transactions

You can do unlimited shopping and transactions

No problem in that but if you want to send money to any friend or family member

Then in that case, you get a limit of 10 transactions per day

But 10 transactions are very much and I don't think that anyone need more than that

If required more than that, then we have other options available like online banking

I hope that you liked this video and if you did, then do like and share it

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Till then keep learning, keep earning, and as always stay happy.