UPI Payment without ATM Card | New Method To Set/Reset UPI PIN

Now there is a new System to set the UPI PIN. It would be very helpful and result in saving as well. This system would be beneficial to those who don’t have a debit card or ATM card. The new system would also benefit those who already have the ATM card. 

Earlier I have discussed a method to set UPI PIN without the debit card. But It was a jugaad. While this new method is introduced by the NPCI itself. 

The Problem of Setting UPI PIN

Friends, Till now the biggest hindrance in UPI payment was the setting UPI PIN. As it required the debit card. Whereas, many of us don’t possess it. Either way, we have the card but the expired one. Or simply, we don’t have the card when required. This is a problematic situation as a debit card was mandatory to set the UPI PIN.  Thus without the UPI PIN we can’t make a payment. Now, there is a solution to this  problem. Let’s go through the steps.

The Implementation of New System

But before goint through the process, let me tell you that no UPI App has implemented this system at the time of writing this post. However, soon, you would find this facility in all the UPI apps as NPCI has set the due date for implementing this method. The due date is 30th June 2022. 

How to Set / Reset UPI PIN

The NPCI itself has told the specific steps of this system. On the basis of these steps, we are telling you this process. You can also check out the NPCI circular of 8 September 2021. 

Well, when we install the UPI app, first we have to link our bank account. The linking of bank account, gives us the facility to get money using the UPI system. But to send money we have to set the UPI PIN. That is why we are asked to set the UPI PIN in the beginning. 

2 Ways to Set UPI PIN

Till now, we have only one way to set the UPI PIN. This way required the debit card details. But now we have two ways. The first one is the debit card details and the second one is the Aadhaar OTP. 

So friends, If we don’t have the ATM card, we would choose the second method. Although this method has some limitations, we will talk about this later. 

Steps to Set UPI PIN Through Aadhaar OTP

1. As we choose the method of Aadhaar OTP, we have to give our consent for Aadhaar OTP verification. 

2. After the consent, we have to enter the last four digits of the Aadhaar number. 

As we enter the 4 digits, the system would verify whether this number matches with the aadhaar number linked to your bank account.  If it matches, you would get two sms containing the OTP.

The one message would be from the UIDAI and another would be from the bank. We have to enter both of these OTP. 

Along with the OTP, we have to set the new UPI PIN. We can set any number as UPI PIN. The number can be either 4 digits or six digits depending upon the bank. The SBI requires 6-digit UPI PIN while ICICI Bank requires 4-digit UPI PIN. 

We have to enter UPI PIN again to confirm it. Now, we tap on the submit button. 

The Limit After Seting UPI PIN

Thus we set a new UPI PIN through this process. Immediately after setting the UPI PIN, we can send money. We can also make payment to the shopkeeper and pay for the utility bills. Note, there is a limit of payment after setting or resetting UPI PIN. You can pay a maximum ₹5000 during the first 24 hours. After the lapse of 24 hours, you can  pay upto ₹1 lakh in 24 hours. 

Conditions of Aadhaar OTP Method of UPI PIN Set

Now we will discuss the terms and conditions of UPI PIN set through the Aadhaar OTP. 

• The First condition is that your Aadhaar number should be registered with the bank account. Without this, the Aadhar authentication is not possible. So, give your aadhaar number to the bank, if not already done. 
• The second condition is the mobile number registration with both in the bank account and Aadhaar.  Mobile number linking is a must to get the OTP.  As you might know, a  Mobile number in a bank account database is mandatory to use the UPI. Similarly, a mobile number in the Aadhaar database is required to get the Aadhaar OTP.
• The third condition is that your mobile number must be the same in the Aadhaar and Bank database. Also that very mobile number should be in the handset you are using. You can’t use UPI payment facility using some other mobile number. So, these were the terms and conditions.

Savings For Everyone

Now, the question is about the benefit of the new method to the people who already have the ATM card. To understand this, let’s take my own example.

I have two bank accounts. The UPI is activated in both the accounts. Since most of my expenses are paid through the UPI, I use both the accounts for UPI payments. 

Because of the frequent UPI Payments, I rarely visit the ATM. earlier, I used to visit an ATM at least twice in a month. But now, I have to visit once every 2-3 months. 

Sometimes, I even consider getting rid of the ATM card. This would result in the saving of about ₹200 per year. This is the annual fee for using the debit card. 

But, I can’t do it. Since, I need a debit card to set the UPI PIN. Thus, I did not take the risk to close it. 

Suppose I forget my UPI PIN. In this situation I can’t reset my UPI PIN without the ATM card. That is why both the ATM cards are active. But, now I would close at least one debit card. 

I would be able to close the both, if I learn to withdraw cash from an ATM through the cardless withdrawal method. Thus, this new method would save at least ₹200 per year for me. The same profit may be also applicable to you. 

Not only this, there would not be the tension of losing an ATM card. 

Thus friends, I have given you useful information. If you enjoyed this, please like and share this post. And don’t forget to subscribe to the New Post alert.