Complete Guide to Payments UPI International Transfers in India www.deekpay.com

India Paymentsflat-roofed buildingUPI(Unified Payment Interface of India) is a digital payment system that has revolutionised the way Indians pay.UPI was initially aIndiadomestic payment methods, but has now evolved to support international transfers for Indian users.

Paying abroad with UPI

Indian users can now make international by scanning the QR code at selected overseas enterprises in selected countries. UPI payments. Firstly, users need to activate international payments on UPI apps that support international payments (such as PhonePe, Google Pay and BhimUPI apps).

Below is our guide to making international UPI payments using PhonePe, one of the first UPI apps to support global payments.

Read more:How do I make a UPI international transfer using PhonePe?

UPI international charges apply when making payments outside India

Although India's domesticUPI transfersIt's usually free, but the convenience of making international payments through UPI comes with a fee. When a user makes a foreign payment using UPI, they are actually making an international transfer from their personal bank.

Therefore, while apps such as Google Pay or PhonePe do not charge UPIInternational any fees, the fees come from international transfer fees associated with the user's bank.

In addition to the international transfer fees from the user's bank, another fee to be aware of is the exchange rate markup when converting Indian rupees into foreign currency. The bank exchange rate for currency conversion is higher than the mid-market rate seen on Google.

Therefore, while UPI transfers can be a convenient alternative to making payments abroad, users need to be aware of international transfer fees and currency exchange rates to avoid any surprises when making payments abroad.

Send international transfers from India using UPI

Users can use UPI International to make payments to international businesses by scanning QR codes when travelling outside India. However, this does not apply to outward remittances from India.

As of now, consumers are not able to send money out of India through UPI. Sources say that India's UPI will be connected to real-time payment systems in other countries like Singapore and the UAE.

Alternatives to India's remittances abroad:Best way to make international money transfers from India

Receive international transfers in India with UPI

Residents of India can receive international transfers directly from abroad to their UPI address. For this purpose, users need to provide the remitter abroad with their personal VPA (UPI Virtual Payment Address), and ask them to use the support to send theUPI IndiaRemittance applications for account payments.

Recommended reading: what is UPI Virtual Payment Address VPA?

Popular platforms that support payments to UPI accounts in India include:

Western Union Remitly Xoom Wise

Wise is a convenient, easy-to-use application that supports the delivery of information to India'sUPI ID and bank accounts to make international transfers for one low transfer fee and a mid-market currency exchange rate (the same rate you see on Google).

UPI international charges on transfers to India

There are two main fees for sending money from abroad to India using UPI. The first is the transfer fee and the second is the exchange rate fee.

Transfer fees are transaction costs that depend on the amount transferred and where the money is sent. Depending on the method of payment, users may also encounter different transfer fees. Sometimes, using a credit card to pay for a transfer can increase the transfer fee, while wire transfers or bank account payments can keep the fee low. When viewing international transfers, be sure to double check the payment method fees.

The second fee is a hidden fee in the exchange rate. When a user receives an exchange rate that is lower than the mid-market rate on Google, it means that the service takes a cut of every dollar or pound the user converts.

UPI International Transaction Limit

For foreign remittances, the official limit for UPI transfers is up to INR 2,00,000 per transaction. Please note that the actual limit may be lower depending on the application used for the transfer.

Users who need to send more than INR 200,000 to India may consider sending it directly to the recipient's bank account instead of their UPI address.

How long does it take to make a UPI international transfer?

UPI transfer times depend on the platform you use. Domestic transfers are instant, but international transfers can take longer. Platforms like Wise can send money to India in a few hours on popular routes; other services can take days.

Atpay - we are a professional provider of payment solutions and have been deeply involved for many years inIndia PaymentsWe have successfully provided payment functions for countless customers at home and abroad. We are fully confident in payment integration and high-risk payment processing, and welcome inquiries and exchanges.