What is Cooling Period Limit

Stay Cool, Stay Secure: Navigating the UPI cooling period. enhancing transaction security, one cooldown at a time.
SET UP UPI
What is Cooling Period Limit
SET UP UPI
4 mins
29 May 2024

What is Cooling Period in Terms of UPI?

The cooling period in terms of UPI refers to the time duration within which a user cannot make any further transactions after a certain limit has been reached. This is a security measure implemented to safeguard users against unauthorised transactions and fraud.

What is Cooling Period Limit?

The cooling period limit signifies the maximum amount of money a user can transact within a specified timeframe before the cooling period is activated. For instance, if the cooling period limit is set at ₹500 per day, once this threshold is reached, the user will be unable to conduct any additional transactions until the cooling period expires.

For Bajaj Pay UPI users, the cooling period limit aligns with the UPI limit per day, ensuring secure and controlled transactions.

Is Cooling Period Mandatory?

Yes, the cooling period is mandatory as per UPI guidelines. It acts as a protective measure to prevent fraudulent activities and unauthorised transactions. While it may temporarily inconvenience users by limiting their transactions, it ultimately ensures the safety and security of their funds.

Bajaj Pay UPI and Bajaj Pay Wallet provide unparalleled convenience by streamlining the payment process for a variety of services. With Bajaj Pay UPI, users can enjoy swift and hassle-free transactions, thanks to its integration with the Unified Payments Interface (UPI). This means instant transfers and payments without the delays associated with traditional methods. However, it is important to note that while UPI offers instant transfers, there might be a cooling period for certain transactions, ensuring security and fraud prevention measures. Despite this, users can still enjoy the convenience and efficiency of Bajaj Pay UPI and Bajaj Pay Wallet, making bill payments and transactions a breeze.

Conclusion

In conclusion, while the cooling period might seem like a slight inconvenience, it is a crucial feature designed to enhance the security of your transactions. By adhering to UPI guidelines, Bajaj Pay UPI ensures that your funds are protected against fraudulent activities. This balance between convenience and security allows users to confidently use Bajaj Pay UPI and Bajaj Wallet for their daily financial transactions, knowing that their money is safe and their payments are processed efficiently.

Bajaj Finserv app for all your financial needs and goals

Trusted by 50 million+ customers in India, Bajaj Finserv App is a one-stop solution for all your financial needs and goals.

You can use the Bajaj Finserv App to:

  • Apply for loans online, such as Instant Personal Loan, Home Loan, Business Loan, Gold Loan, and more.
  • Invest in fixed deposits and mutual funds on the app.
  • Choose from multiple insurance for your health, motor and even pocket insurance, from various insurance providers.
  • Pay and manage your bills and recharges using the BBPS platform. Use Bajaj Pay and Bajaj Wallet for quick and simple money transfers and transactions.
  • Apply for Insta EMI Card and get a pre-qualified limit on the app. Explore over 1 million products on the app that can be purchased from a partner store on Easy EMIs.
  • Shop from over 100+ brand partners that offer a diverse range of products and services.
  • Use specialised tools like EMI calculators, SIP Calculators
  • Check your credit score, download loan statements and even get quick customer support—all on the app.

Download the Bajaj Finserv App today and experience the convenience of managing your finances on one app.

Do more with the Bajaj Finserv App!

UPI, Wallet, Loans, Investments, Cards, Shopping and more

GET THE APP

Disclaimer

1. Bajaj Finance Limited (“BFL”) is a Non-Banking Finance Company (NBFC) and Prepaid Payment Instrument Issuer offering financial services viz., loans, deposits, Bajaj Pay Wallet, Bajaj Pay UPI, bill payments and third-party wealth management products. The details mentioned in the respective product/ service document shall prevail in case of any inconsistency with respect to the information referring to BFL products and services on this page.

2. All other information, such as, the images, facts, statistics etc. (“information”) that are in addition to the details mentioned in the BFL’s product/ service document and which are being displayed on this page only depicts the summary of the information sourced from the public domain. The said information is neither owned by BFL nor it is to the exclusive knowledge of BFL. There may be inadvertent inaccuracies or typographical errors or delays in updating the said information. Hence, users are advised to independently exercise diligence by verifying complete information, including by consulting experts, if any. Users shall be the sole owner of the decision taken, if any, about suitability of the same.

Frequently asked questions

1. What is cooling period limit in UPI?
The cooling period limit in UPI varies depending on the service provider and user's bank. Typically, it is aligned with the daily transaction limit set by UPI, such as Rs. 500 per day for Bajaj Pay UPI users.
2. What is the cooling period of Bajaj Pay UPI?
The cooling period of Bajaj Pay UPI, or any other UPI-enabled service, is usually activated once the user surpasses the daily transaction limit. For precise information regarding cooling period and transaction limits, users are encouraged to visit the official website or consult with customer support.
3. What is UPI's 30-day limit?
The UPI 30-day limit refers to the maximum amount of money a user can transact within a rolling 30-day period. This limit is set by the National Payments Corporation of India (NPCI) and may vary based on factors such as the user's bank and transaction history.
Show More Show Less

Related videos