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

Curious about Immediate Payment Service

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

Yes, there is typically a limit on the number of IMPS (Immediate Payment Service) transactions you can make from your bank account in a day. The specific transaction limits may vary depending on your bank and the type of account you hold. Banks in India impose transaction limits to ensure security, prevent fraudulent activities, and comply with regulatory requirements.

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

1. Per Day Transaction Limit: This refers to the maximum cumulative value of IMPS transactions you can initiate from your bank account within a 24hour period. It includes the total value of all IMPS transactions, including both incoming and outgoing transfers, made from your account during that day.

2. Per Transaction Limit: This refers to the maximum amount you can transfer in a single IMPS transaction. The per transaction limit may vary from bank to bank and is typically 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.

The transaction limits are set to protect your account and funds from unauthorized access and ensure compliance with regulatory guidelines. By limiting the number of transactions and the transaction amounts, banks aim to minimize the impact of any potential fraudulent activities on your account.

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 important to note that the transaction limits set by banks may be 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.

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