How NRIs can use UPI for instant, no-fee transactions abroad
Non-resident Indians (NRIs) now have a faster, more convenient option than traditional wire transfers to send money to family or make payments in India. The National Payments Corp. of India (NPCI) has extended UPI access to NRIs who hold non-resident external (NRE) or non-resident ordinary (NRO) accounts. This expansion allows NRIs to conduct instant transactions from their smartphones using UPI linked to their international mobile numbers, simplifying financial connections with India.
NRIs must first link their international mobile numbers to their NRE or NRO bank accounts. This step is most important for enabling UPI or Unified Payments Interface transactions with their overseas numbers. Once linked, NRIs can download a UPI-enabled application compatible with international mobile numbers, such as iMobile or PhonePe.
After downloading the app, users must undergo an onboarding process, including mobile number verification. Then, they must create a unique UPI ID or virtual payment address (VPA) linked to their international mobile number. Finally, they select their bank account and submit the details to activate their UPI profile.
NPCI has enabled UPI for NRIs residing in specific countries, including the US, Canada, the UK, the UAE, Singapore, Australia, and more. In terms of banks enabling UPI transactions, NRIs can access services from the list of specific banks. These include AU Small Finance Bank, Axis Bank, Canara Bank, City Union Bank, DBS Bank, Equitas Small Finance Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank, IndusInd Bank, Punjab National Bank, and South Indian Bank. Each of these banks offers services to support NRIs in managing their finances through UPI.
Presently, UPI applications that allow
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