City Union Bank UPI

What is the meaning of UPI?

UPI stands for Unified Interface Payments which is used as a payment gateway for sending and receiving funds from anywhere and at any time to other verified UPI accounts or to bank accounts using the unique VPA allocated to the UPI account of City Union Bank. City Union Bank UPI is known as BHIM CUB ewallet UPI.

VPA is the Virtual Payments Address that is allotted by providing a registered mobile number or the account number of a valid savings or current account along with the IFSC code.

UPI was the initiative of the National Payments Corporation of India (NPCI) and is under the regulation of the Reserve Bank of India (RBI) which is the central bank of India. Customers are eligible to send and receive funds immediately on a real time basis similar to the IMPS technology of funds transfer.

Overview of CUB UPI

City Union Bank UPI application provides a centralized platform to its customers to access multiple bank accounts under a single virtual address. The UPI id generated is valid for the lifetime of the customer and can be deactivated or de-registered anytime as per the convenience of such account holder. City Union Bank provides the customers to create their own Merchant QR by simply giving a missed call to +91 4071320749.

Features of City Union Bank UPI

City Union Bank provides many features and benefits that make it a better and a preferred banking tool as compared to other available options. Following are the details of the same.

• CUB UPI e-wallet provides a single platform for multiple accounts to be handled or accessed. These accounts can be either the savings bank account or current bank account of either the City Union Bank or any other bank within India.
• This UPI portal enables the customers to transfer funds in real time and also in a very convenient fashion as compared to the traditional funds transfer options like NEFT/RTGS.
• City Union Bank UPI does not require the customers to register the payee before transferring the funds or even wait for the cooling period as is the case in NEFT or RTGS or IMPS mode of transfer.
• Sending and receiving money can be done through many available options under the UPI application like VPA (Virtual Payment Address)
• Providing the Bank Account Number along with IFSC Code
• Providing the Registered Mobile Number
• Scanning the QR code of the merchant or the person (payee).

• City Union Bank UPI functions on the basis of single-click 2-factor authentication. The QR code of the UPI application is unique to each VPA and thus is a very secure portal along with other measures to ensure the safety and security of not only the funds under the banks associated with the UPI but the identity of the account holder as well.
• Customers can easily set or reset the UPI PIN for the applications multiple times at any time and from anywhere during the course of using the app. It can be done by simply selecting the option for the same and providing the registered mobile number along with the OTP sent on such mobile number to verify and authenticate such request.
• City Union Bank UPI allows the customers to get a detailed history of their transactions (like the date, amount and id of the transactions) for any period selected by them which in turn helps them to keep track of their expenses or funds transfer easily.
• The application allows the customers to raise any queries of issues pertaining to the application or any other feature of the bank easily and track them as well in real time through the complaint id generated.
• Customers do not have to face any hassles in making payments or receiving funds that are part of the traditional banking transfer modes like minimum amount for the transactions or unavailability of account details, etc.
• The cost of operating or using the application is almost zero. Customers do not have to pay any additional funds for downloading or registering for the UPI application of the Bank.
• City Union Bank UPI allows the customers to perform many other functions like
• Checking the balance of a registered bank account
• Payment of utility bills
• Deleting the application
• Online shopping
• Recharging the DTH account or mobile recharges
• Payments to merchants for point of sale transactions
• Starting a new fixed deposit
• Getting a detailed history of transactions
• Funds transfer through scanning the QR code 
• Subscribing for an IPO.
• Managing a bank account registered with the application
• Managing payee or beneficiaries (adding or deleting them easily anytime)
• Setting payment reminders
• Donations
• Paying insurance premiums

• UPI is a crucial factor or contributor in promoting the cashless economy vision of the Government of India as it has enabled the concept of digital economy to reach all the corners of the country and be widely accepted as the primary mode of executing funds transfers.

Transaction Limits for City Union Bank UPI

UPI application of any bank has certain restrictions imposed on the number of transactions that can be performed by an account holder as well as the volume of the transactions that can be undertaken by any VPA holder. The details of the same are tabled below.

How to send money through CUB UPI?

The process to send money through CUB UPI is very simple and enables the customers to transfer funds in real time or instantly. The detailed process for the same is mentioned below

• First step is to click on the ‘Pay’ icon.
• After that, customers will have to select the account from which the transaction has to be carried out
• Customers can use the ‘Pay’ option for a pre-added beneficiary and ‘Quick-Pay’ option for the new beneficiary
• Next step is to select the beneficiary type from the drop down menu and then provide the required beneficiary details upon such selection
• After that, customers will have to enter the amount to be transferred and then click on ‘Submit’
• Upon successful execution of the funds transfer, customers will get a notification for the same along with transaction details.

How to receive money through CUB UPI?

The process of receiving money through CUB UPI is very easy and does not necessarily require adding the beneficiary details prior to such receipt of funds. The detailed process for the same is mentioned below

• First step is to click on ‘Collect’ icon available in the application
• After that, user will have to select the account to which the amount has to be credited
• Customers will have to select the ‘Collect’ option for a pre-added beneficiary or ‘Quick Collect’ option for new beneficiary
• Next the customers will have to provide the Beneficiary Virtual Payments Address (VPA) if they opt for the Quick collect option
• Customers have to then provide the expiry time and the amount that has to be transferred
• Customers have to ensure that the beneficiary should transfer the amount within the specified time otherwise the request to collect money would expire automatically after such notified time.

FAQs - City Union Bank UPI