1. What is UPI?

A Unified Payment Interface (UPI) is a system that enables access to multiple bank accounts and services through a handheld devices. You can easily make bank to bank payments instantly and collect money using Mobile Number, Account Number or Virtual Payment Address (VPA).

2. How is UPI Benefits?

UPI is providing following benefits:

1. Go Cashless anywhere, any time
2. Provides the “Receive Money” option
3. Fund Transfer
4. Balance Enquiry
5. Bill Payments

4. Is registration mandatory for making transactions using UPI?

Yes. You need to register on UPI and link your bank accounts before performing transactions.

5. What are the requirements for using UPI?

Requirements for UPI Registration:

1. An android smartphone with internet services
2. An operative bank account
3. The mobile number being registered with UPI must be linked to the bank account.
4. Active debit card relating to this account for creating UPI
5. PIN for transactions.

6. Are there any additional charges for transactions done using UPI?

Currently, there are no charges for transactions done through UPI.

7. What are the various methods for transferring funds using UPI?

The different methods available for transferring funds using UPI are:

1. Transfer through Virtual ID
2. Account Number and IFSC combination
3. Mobile number

8. How do I link my bank account with UPI?

After successfully registering in UPI enabled application, click on the “Add Bank Account” link. Choose your Bank and type "Samata Co-operative" in search box then select The "Samata Cooperative Development Bank Ltd" from the list.

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