Is there a limit on the number of IMPS transactions I can make in a day from my mobile phone?

Yes, there is a limit on the number of IMPS (Immediate Payment Service) transactions you can make in a day from your mobile phone. The specific transaction limits may vary depending on your bank and the type of account you hold. Generally, banks in India impose certain limits on IMPS transactions to ensure security and prevent unauthorized or fraudulent activities.

The transaction limits set by banks for IMPS transactions typically encompass two aspects:

1. Per Transaction Limit: This refers to the maximum amount you can transfer in a single IMPS transaction. The per transaction limit can vary from bank to bank and is usually defined by the bank's policies and the type of account you hold. It's advisable to check with your bank to determine the specific per transaction limit applicable to your account.

2. Daily Transaction Limit: This refers to the cumulative total of IMPS transactions you can make in a single day. The daily transaction limit includes the combined value of all IMPS transactions initiated from your account during a 24hour period. Similar to the per transaction limit, the daily transaction limit is determined by the bank and may vary based on your account type and banking relationship. It's important to be aware of your bank's daily transaction limit to ensure compliance.

To find out the exact limits for your IMPS transactions, it's recommended to refer to your bank's official documentation, contact their customer support helpline, or visit the bank branch. They will be able to provide you with the specific transaction limits applicable to your account.

It's worth noting that the transaction limits set by banks are subject to periodic revisions based on regulatory requirements and internal policies. Therefore, it's advisable to stay updated with any changes communicated by your bank to ensure accurate information regarding your IMPS transaction limits.