A step-by-step guide to creating a Current Account UPI ID

29 March, 2024

A step-by-step guide to creating a Current Account UPI ID

Unified Payments Interface (UPI) makes it simple and easy to receive payments. You can create an UPI ID for business through your Current Account and use it for business transactions. Note that UPI doesn’t distinguish between Savings Accounts and Current Accounts. It means that the process of creating a Current Account UPI ID is similar to that of a Savings Account. So, how to do so? Let’s find out.

How to create a UPI ID for a Current Account?

While the specifics may differ across different UPI payment platforms, the basic process to create a Current Account UPI ID remains the same. Below are the steps for the same:

• Download any of the available payment applications

• Enter your mobile number and verify it through an SMS sent

• Once your number is verified, choose from the list of available banks. Make sure your mobile number is registered with your bank. This is essential to retrieve your bank account details

• Set up an UPI PIN. You also need to enter the details of your Debit Card during the initial set-up

• Once done successfully, your bank account is linked via UPI
  
  

The format of your Current Account UPI can be any of the following:

• abcd@bank - Here, abcd can either be your first name or your mobile phone number, and the bank is the name of your bank whose account is linked through the UPI.

• mobilenumber@upi - In this format, your UPI ID will be your mobile number followed by UPI.
  
  

Whatever your UPI ID is, you can use it to send and receive payments from your customers.

Important things to keep in mind

Now that you know how to create a UPI ID for a Current Account, here are some essential considerations before doing so:

• Check out if there is any restriction on the number of transactions
  
  Generally, there is no restriction on the number of transactions you can make in a Current Account, but to be on the safe side, check out for any such restrictions imposed by your bank beforehand. This ensures seamless transactions. If there are any restrictions, talk to your bank to find a solution.
  
  

• Use the UPI app of the bank in which you have a Current Account
  
  Today, most banks have their own UPI apps. It’s better to use the UPI app of the bank in which you have your Current Account. It ensures seamless integration and allows you to leverage an interface that is consistent with the bank’s overall digital platform. Also, by using your bank’s UPI app, you can benefit from the security measures undertaken by the bank to protect your financial transactions.
  
  For instance, Current Account holders of HDFC Bank can use the bank’s UPI application to set up their UPI ID and conduct transactions. You can visit your nearest HDFC Bank or visit our website to know more.
  
  

In conclusion

A UPI ID with your Current Account spells multiple benefits for your business. Not only does it allow you to receive payments seamlessly, but it also ensures you serve a large customer base. With UPI being accessed by several thousands of customers, integrating it into your business operations can help you bolster growth and revenue in the long run.

Click here to apply for HDFC Bank’ Current Account!


*Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances.