Users with multiple bank accounts can separate their savings, daily household expenses, business transactions and other needs. But keeping track of balances, payments and regular bills makes it challenging when you are managing different bank accounts.
This is where a UPI app helps in simplifying the process by bringing your everyday payment activities into a single interface. Users can conveniently link eligible bank accounts, choose the account they want to use at that point in time, and make payments without continuously switching between different banking applications, depending on the app that you choose and the supported banks.
Why Use a UPI App for Multiple Bank Accounts?
Everyday banking becomes more convenient and seamless when you manage several bank accounts through one dashboard. Rather than remembering and switching to multiple applications, you can get access to different accounts from just one interface. A UPI app helps with:
- Making transactions from the selected bank accounts
- Checking the account balances
- Making payments to contacts and merchants
- Reviewing your entire transaction history
- Paying for utility bills, gas, water or electricity
Managing Different Bank Accounts Through a UPI App
Here is how you can consider managing your multiple bank accounts using your UPI app:
1. Link Your Eligible Bank Accounts
Start by connecting the bank accounts that you use on a regular basis, as most UPI platforms allow users to add bank accounts that are linked to their registered number. But before linking the account, ensure that your number is registered with the bank, the account supports UPI, and follow the complete process verification as provided by the app. Now that your account is linked, you can use the bank account for UPI transactions.
2. Choose the Right Bank Account Before Paying
When multiple accounts are linked, make sure you choose the right one before making a transaction. To maintain better control over where your money is being debited, it is important that you choose the correct account. Check the bank account and the recipient details as displayed on the screen before you make a payment through a UPI app.
3. Track Balances More Conveniently
Choosing a single platform helps you check your bank balances, eliminating the need for multiple applications. When you keep track of your balances, it helps you avoid failed transactions due to insufficient balances.
4. Keep an Eye on Payment History
When managing several accounts, it is important to keep track of your transaction history to understand where the payments are made from. Reviewing payment records from a UPI app helps to track your regular expenses, look for unfamiliar payments, review bill payments, check if the transaction is successful and maintain better financial records.
5. Manage Bills From a Single Platform
When payments are made from multiple accounts, it becomes difficult to track your regular bills. This is where a UPI platform helps to make things easier by allowing users to pay for bills through one dashboard. A UPI app helps users pay for their electricity bills, gas bills, credit card bills, loan EMIs, DTH bills, mobile recharges, and FASTag payments. However, make sure to check the bank account you are making the payment from.
Conclusion
Managing multiple bank accounts does not have to mean switching between several platforms for every transaction. A UPI app can bring everyday payment activities together, making it easier to select an account, check balances, review transactions and pay bills. By assigning clear purposes to different accounts and verifying payment details before every transaction, users can make their digital payment experience more organised and convenient.
Bajaj Pay UPI and UPI Lite make everyday digital payments convenient. Users can scan QR
codes, pay contacts, or send money to a bank account or UPI ID. They can also check balances, review payment history, pay bills, including gas, electricity, credit card and loan repayments, and make DTH and FASTag payments or mobile recharges.
