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Setting up UPI for parents

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vikas5432

vikas5432

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Hi , I want to setup UPI for parents. They are not tech savy so I am thinking of creating a new bank account for them.

I will add some minimal fund in the new bank account for their day to day UPI payments.

Please suggest a good bank(preferably which can be opened online) and has good app for UPI.
 
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Yes. Please create a separate account for each parent and install & configure an UPI in their phone.
I suggest to choose a bank where you already have an account and familiar with that bank /third party app.

I personally found these banks are good with no failures and quick:
ICICI
Kotak
Canara

And use these apps for my parents:
Yes Pay next
Gpay
imobile ICICI
Kotak
Canara ai1

Edit: I have heard good things about IDFC Bank but haven't used these.
 
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vine said:
Yes. Please create a separate account for each parent and install & configure an UPI in their phone.
I suggest to choose a bank where you already have an account and familiar with that bank /third party app.

I personally found these banks are good with no failures and quick:
ICICI
Kotak
Canara

And use these apps for my parents:
Yes Pay next
Gpay
imobile ICICI
Kotak
Canara ai1

Edit: I have heard good things about IDFC Bank but haven't used these.
Click to expand...
Thanks, the banks you mentioned won’t open digital account i think ..
 
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vikas5432 said:
Thanks, the banks you mentioned won’t open digital account i think ..
Click to expand...
Kotak has 811 if it serves your purpose.
If you need only digital accounts check Indie by Indusind and a few other you can search in forum.
I learnt in this forum that Digital accounts need KYC perfectly done, or else they may get freezed.
 
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vikas5432 said:
Hi , I want to setup UPI for parents. They are not tech savy so I am thinking of creating a new bank account for them.

I will add some minimal fund in the new bank account for their day to day UPI payments.

Please suggest a good bank(preferably which can be opened online) and has good app for UPI.
Click to expand...
Alternatively you can use UPI circle and can authorize/ make full delegation from your own A/c to your parents to transact independently upto 15k/ month.

You both can view txns details.
 
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vine said:
Kotak has 811 if it serves your purpose.
If you need only digital accounts check Indie by Indusind and a few other you can search in forum.
I learnt in this forum that Digital accounts need KYC perfectly done, or else they may get freezed.
Click to expand...
Is kotak 811 still allowed ? I was reading a RBI ban news.
 
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Different banks have different daily UPI limit. I would suggest to go with a bank which has 1L(max as of now) daily limit because some day you just need it.

Big banks would have the 1L limit but smaller once also have like 25k daily limit.
 
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