How to Install and Transfer Money using BHIM App

BHIM is a new app launched by the Prime Minister to make instant bank payments a norm in the country. The all-in-one app lets you process transactions within seconds, and the app is so easy-to-use, anyone can use it.

The app verifies your phone number and executes every transaction in a secured manner. The registered number should specifically be the one that has been registered by you in your bank. Only a single account per user is currently supported by the app. However, the app is expected to grow gradually in all aspects.

How to install the app

The app can be downloaded via Play Store, Windows, and Apples App Store. Here are three ways to transact using the app include:

UPI address
QR code
Phone number

How to transfer money using the BHIM app

BHIM app makes it possible to transfer money instantly without any excessive bank details like an account number or IFSC apps. All you need is the registered mobile number of the recipient, and thats it. There is also no time restriction, special registration, or transfer charges required.

The users of the BHIM app need to remember the passcode that is sent to them during their first registration. Sometimes the passcode is the phone number of the user itself. Once you begin using the app for executing transactions, you will have to use the passcode. The immense convenience and security features of the app are simply unsurpassable.

Lets quickly review the step by the step-by-step guide for transferring money through the BHIM app:

1. As soon as the app has been downloaded, you need to enter the passcode (phone number). The passcode also works as your security password which avoids any mistake during transactions. 2. The mobile number is the payment address that needs to be shared with the ones who want to send money to you. Users can also generate a spare UPI beside your telephone number. 3. Select your bank amongst the list of 30 and enter all the required banking details in it. You can only add one bank at a time. 4. The PIN is always needed for receiving and transferring funds in the brim app. It can be generated by clicking on the bank account and the going over the home page. 5. Choose the option to Set up UPI PIN. 6. Subsequently, you will receive a code or OTP that is needed for setting the UPI PIN. 7. Once you are logged in successfully, all the details regarding your past and present transactions shall be displayed on the home page.

You can make transactions with the BHIM app in less than a minute. Also, the app directly establishes a link with your bank account and endorses cashless transactions through UPI (unified payment interface). As opposed to other online transaction methods like IMPS and NEFT, UPI is quicker because you dont have to register new payees and then wait for a specific period of time before you can transfer funds.