What Is The Difference Between UPI And Net Banking?

Friends, the main Difference Between UPI And Net Banking is that Internet Banking gives us a dashboard on the online website where we will log in with the ID password given by the bank, this is our kind of admin panel on the bank’s server or say dashboard. Where we can easily use all our services.

Net banking has also been made very easy in many banks, for example, if you see the net banking of SBI Bank, then there you get an application named yono.sbi in which you log in once and then you transfer money every time. You can enjoy the facilities like making and withdrawing receipts.

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Difference Between UPI And Net Banking

UPI ID is only to promote mobile banking, where you log in to net banking by visiting the official site, while if you want to use UPI service, then you have to first activate UPI which you can use in any payment transfer application. Your mobile number should be linked with the bank on which you want to activate UPI.

Difference Between UPI And Net Banking

After that, once UPI is activated on that mobile number, you create a password for UPI and the same password will have to be used in all payment transfer applications, if the password of net banking is stolen, then there will be money transfer and fraud. Chances of getting it are high but because UPI ID can be operated only in your mobile or money can be withdrawn only through OTP verification then it is considered more secure.

Difference Between UPI And Net Banking

For any common citizen who does not have this much understanding of Internet Banking, he will not be able to transfer money from Internet Banking because to transfer money on Internet Banking, only four places have to fill password, first login password followed by profile password. After that payment password and password for verification are also asked.

Therefore, for one who does not have much understanding of banking, it will be very difficult to use internet banking and he can also be a victim of some fraud. Therefore, there was a need for such a service in the country so that the common citizen using mobile can also transfer money easily and the way which is more secure and people with less information and knowledge can also transfer money.

RBI holds the main authority over UPI, so all banks trust UPI, and provide UPI service. Almost all banks in India are connected with UPI. Almost all money transfer applications in India are also connected with UPI.

Also Read: Which Credit Card Is Best In India | 5 Best Credit Card India

You must have heard and used the name Gray, Phonepe, Paytm, etc. All these applications also do transactions using the UPI service. It is much easier to transfer money in UPI than net banking because once you set a UPI password in UPI.

After that when you will verify the OTP from your mobile number in any application, then there you will be able to transfer money easily from the UPI ID provided by the application in the application, there you have to enter your UPI PIN and you will be able to do the transaction.

Keep in mind that UPI PIN is your only security, so all the hassle of security gets centralized and you do not even need much knowledge for security, you just keep your UPI password safe, your money is safe.

In this post, we have mentioned the Difference Between UPI And Net Banking, hope you have understood.

Also Read: What Is UPI ID | Why It Is Important & How UPI Works

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