FUND TRANSFER UPI
Transferring Funds With Alice Blue’s UPI
UPI: Alice Blue has introduced UPI Fund transfer so that investors and traders can make their transactions conveniently and more efficiently. As there are many who still do not understand the UPI payment method, keep reading to learn more about the process.
WHAT IS UPI?
Unified Payments Method is known as UPI. This is a real time interbank payment system. This means that you can transfer money between different banks instantaneously.
Choose Your UPI Payment Mode
STEPS TO FOLLOW
Following are the steps to start using UPI payment method for fund transfer on Aliceblue:
- Login to the Client Back Office through your web browser or through the BOT mobile app
- Select the menu button – “Online Payment” and click on “UPI Option”.
- Click on “Update UPI ID” and add your UPI ID which is linked to your Trading Bank Account.
- After adding the UPI ID, you can make your fund transfer by selecting the segment to which you want to add your funds and entering the amount you prefer.
- Go to your preferred UPI mobile app and authorise your payments.
Note: Please use the UPI ID that is specifically linked to the already linked Trading Bank Account. Any other UPI ID used will just cause failed transactions
Benefits of fund transfer using the UPI payment method:
- This is the cheapest way out of every way. Since NEFT is very cheap compared to IMPS methods. It is also a very cheap against the POS machine.
- This payment method does not require cash in hand because it is a digital transaction.
- Its a secure method of transfer. The UPI payment process does not require a lot of details for making payments. You just need a virtual payment address and can use this to transfer money. This virtual address is similar to an email address.
For ex: raj123@paytm
It is a very safe way to transfer money because we do not give any details to anyone other than the payment ID. And this transfer happens instantaneously.
- For making UPI payments you can link any bank account to a UPI mobile app. And you can use any UPI app, it doesn’t specifically have to be your bank’s UPI app – you can also use Google Pay or PayTm or BHIM UPI.
- It is also convenient. It is easy to register and use.