AWARENESS : Using bajaj UPI offers daily - Be Vigilant - Saving account getting blocked / frozen

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Is high frequency of the transactions a problem or high aggregate value ?

Since upi is everywhere now , i might be making 10-15 transactions daily for various purposes (low value transactions under 500 rupees),

Vu for awareness & reach.

Messing with Banks & Red Marking your PAN is not a good option for the future. May miss better rewards & cards, loans etc...

Bro can u tell us how much you were rotating ? I take like 10k a month in icici via traded too via snappay is there any risk

its not high no of upi transaction that leads to this issue, its high no of same kind of transaction on same webiste or app that leads to it. bank categorises it as business transaction and hence freezez the account and aks for transaction details.

Happened wth me with kotak811, Equitas and ICICI.

got kotak811 and equitas unfroze within in a week after verifying all details but ICICI has not yet been unfreezed as m not in my branc city currnetly but got an email that account is freezed for my safety because of recent transactions and visit branch for to verify transaction and get it unfreeze.

There could be various factors that bank identifies for freezing the account. I have listed 2 of them below.

1. high no of same kind of transaction (same value in some case) on same webiste or app that leads to it. bank categorises it as business transactions.

2. total amount creditted in your bank in specific duration should not ("overly") exceed your income - set in your Bank profile.

Eg. My Kotak account frooze - with description "TXN PATTERN MISMATCH VIS-A-VIS DECLARED PROFILE"

The branch relationship manager enquired that your bank profile is set with 5-10 Lakh annual income.

But your account exceeded incoming deposit of 10lakh in last 3 months. Also all the credits were of similar value.

@zee : you are correct with your explanation

@androgame : check my response above

I also got my "1st axis account" freezed BY AXIS RISK MANAGMENT TEAM in last december i.e 2023 dec, if my memory serves right (and usually this freezing happens easily on quarter analysis things it seems, because for me they took 3months quarter transaction and asked me proof against it)

SOLUTION:

and the solution the branch employee gave me is 2 things

1) use NEFT, IMIPS, RTGS dont use UPI this much (because they said they can't verify or track transaction easily with UPI and they take it as business transaction usually if high number of UPI deposit arises)

2) upgrade your account variant to premium account like HNI account which will have more number of transaction allowance value 

so keeping these 2 things in check and doing transactions now, NOW ALL MY ACCOUNTS ARE SAFE

BTW interesting post and VU+ for more awareness of the points from all the comments here

I use multiple accounts almost 5/6 accounts makes it rotation to self from different banks. Never received any warning using from last year.

Every day I used atleast one transaction from each bank.

OP

Can you tell the no.of times or the amount you were handling in these offer?

RBL is the worst in this matter even there support system is also very weak from branch to pno no buddy are helpful biggest nightmare is when you call PNO desk it will not get connected to banking pno if connected then you will only be able to talk RNO🤣🤣🤣

I have raised my issue to ombudsman for help because issue of due diligence pending for more than 4 months,😂😂😂

@Mayur_Pune @DEEPANGEORGE 

@Swetha11

How many accounts you guys are holding BTW

My ICICI Bank account got frozen in last month due to high UPI transactions on bajaj and even after visiting branch, they were rejecting to unblock. After giving RBI ombudsman complaint, they took explanation for Each last six months transactions and got unblocked.

My Jio account got blocked once.

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After that I stopped using these offers.
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Now I only use the offers that give more than 35 Rs.
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Rest the offers are Resting in Peace only.

and how was the amount you were rotating?

the way to prevent this is to do transactions with 1 2 rs value diff like 3001 3002 etc and possibly from diff accounts to ppi wallet with upi like apay slice then after few days transfer lump sum from ppi back to account

i wrote a long post earlier for the same will link it i am able to find it

Use current account for multiple UPI or Debit Card transactions per months.

My Fi account was also frozen, and since then, I only occasionally use these Bajaj Send Money offers. Could an expert clarify the total amount we’re allowed to send and receive using UPI per account or per person in a year? Is there a specific restriction or rule for this? I read somewhere that the limit is around 10 lakh rupees, but I see some people doing more without any issues.

Premature 1-2-3 .

Bajaj + Small Finance Bank = Deadly Combination