Bank Utils for Shopkeepers

4 min read Bank Utils

Verifying a UPI Payment Before Releasing Goods

Always wait for your bank's SMS or the payment app's incoming alert—never rely on the customer showing you their "Payment Sent" screen, which can be faked. Your bank's confirmation is the only reliable signal money reached your account.

UPI Limits for Large Purchases

UPI per-transaction limits are ₹1–2 lakh depending on the customer's bank. For larger orders, display your IFSC and account number alongside your UPI QR code so customers have a NEFT option.

Paying Suppliers via NEFT

For bulk stock payments, use NEFT or RTGS—not UPI. This creates a formal payment trail with a UTR reference mapping to your invoice. Verify the supplier's IFSC from their invoice before the first transfer, and run a penny-drop for new suppliers.

UTR Records for GST

For every UPI receipt above ₹200, note the UTR from your SMS. Export your bank statement monthly and reconcile UTRs against invoices issued for GST input credit matching.

UPI Fraud Warning

A customer asking you to "scan their QR code to receive a refund" is a scam—scanning a QR initiates a payment from you. Never enter your PIN in response to a customer's request.