NRIs can transfer money to India using UPI: Here's how
Non-Resident Indians (NRIs) can use Unified Payments Interface (UPI) for quick money transfers to India. The development comes as the National Payments Corporation of India (NPCI) expands its UPI services to NRIs with Non-Resident External (NRE) or Non-Resident Ordinary Rupee Account (NRO). The new service enables NRIs to make instant transactions from their mobile phone through UPI, connected to their international mobile numbers.
How to link international mobile number to UPI
To avail this service, NRIs first have to link their international mobile number with their bank account. They can then download a UPI-supported app accepting international mobile numbers and complete the onboarding process. However, do note that transactions will be allowed as per the terms and conditions of individual banks. The new facility is currently available for customers from 12 countries including Australia, France, Canada, Hong Kong, Qatar, Saudi Arabia, Singapore, Oman, UAE, UK, and the US.
UPI apps and banks supporting international mobile numbers
Several UPI-powered apps now support international mobile numbers. These include Federal Bank's FedMobile, ICICI Bank's iMobile, IndusInd Bank's BHIM Indus Pay, South Indian Bank's SIB Mirror+, AU Small Finance Bank's BHIM AU, BHIM, and PhonePe. Meanwhile, multiple banks have also started supporting the linkage of international mobile numbers. The list includes Axis Bank, Canara Bank, City Union Bank, DBS Bank Ltd., Equitas Small Finance Bank among others.
