Advantages and Disadvantages of BHIM App You Must Know

BHIM stands for Bharat Interface for Money and it was launched months after demonetization to make it easy for people to pay and transact. The app surely made it easy for people to transfer money as it was directly linked to Bank Account using Unified payment Service. In addition to this, the app is backed by the Government of India.

The government also took care of the diversity while launching the app as this app’s interface was made available in 13 different languages. There are many other advantages of the BHIM app and let us now look at all of these advantages that comes with BHIM App.

Advantages and Disadvantages of BHIM App

Advantages of Using BHIM App

Supports Almost Every Bank – BHIM has a wide range of service support for Bank Network. There are almost all the banks listed on the apps and you do not have to worry about the support for the Bank. This is surely one of the greatest advantages of BHIM App.

No Required to Have Internet – If you do not have internet connectivity then you do not have to worry as you can make transactions even without BHIM app. To use BHIM Interface without internet, you need to dial *99# and this will give you options to check balance, send money and other such details. It is even possible for a non-smartphone user to use BHIM this way.

Backed by Government – This app is backed by the government and hence it is more reliable than private players who work for profit.

3 Level of Security – There is three level of security layer that makes it very secure to use the app. The first layer is the Device ID that you are using, the second layer is that of the bank that you have an account with and the third security layer is the UPI Code which is mandatory to make a transaction.

Instant Transfer – The money is transferred to your bank account instantly and there is no wait in such a case. The transfer is The app uses IMPS to make such transfers and hence you can seek money or transfer money instantly even in case of emergency as it works 24×7.

Easy to Use – It is very easy to use the app for making payments and there are 5 ways in which you can make the payment. This means that the payment can be made via Mobile Number, Bank Details and even Aadhaar Number. The app doesn’t hold your money like other wallets. The money is directly transferred to your bank using IMPS interface. You can even use the QR Code to make the payment instantly.

Send Money Using Aadhaar – If you know the Aadhar Number of a person then you can go ahead and if you wish to transfer the money then you can simply transfer the money to the person using his Aadhaar number.

These were some of the advantages of the BHIM App. There are also some disadvantages of the app and let us now look at them.

Disadvantages of BHIM App

Transaction Limit – There is a transaction limit for the users for using this app. This transaction Limit is set at Rs 10,000 per transaction and a user transacts for over Rs 20,000 in a day. This is to limit the loss during a fraud but this is also highly inconvenient for the time when people wish to make larger payments. With KYC registration, this limit is increased to Rs 1 Lakh but that more of dual efforts because you would have already registered KYC with the bank.

Necessary to Have Mobile Number Linked – It is important to have Mobile Number linked to the bank account. If you do not have the mobile number linked to the bank account then you can’t use BHIM. This means you will have to get the Mobile Number registered first before you can use the app.

No Cashback – There are some apps similar to BHIM and they offer cashback on the transactions. BHIM doesn’t offer any such cashback and this is surely one of the drawbacks of BHIM. People tend to use the apps more frequently if they get cash backs for use.

These were some of the disadvantages of the BHIM App and we believe that the advantages of BHIM are much more than the disadvantages. It is surely safe to use the app and it also has high adaptability among Indian users.

If you haven’t used BHIM yet then you must go ahead and install the app from App Store or Google Play store as it will really make it easy for you to transact digitally.

Also Read: Advantages and Disadvantages of Paytm App

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