UPI PIN: Definition & How to Change/Reset?

Have you noticed how all ATMs require a PIN before it lets you withdraw money? Similarly, if you're using UPI to transfer funds from your bank account or make payments, you must enter your UPI PIN. Your UPI PIN is a self-chosen combination of numbers — unique to your bank account & it helps authenticate transactions.

UPI PIN: The Gatekeeper of Your Account

UPI (Unified Payments Interface) is a payment system in India that allows you to transfer funds between bank accounts using only a UPI ID and a 4 to 6-digit UPI PIN. Developed by the National Payments Corporation of India (NPCI), UPI eliminates the need for complex information like IFSC codes, account numbers, or net banking credentials. An UPI ID acts as a unique virtual payment address for a bank account on the UPI platform and combines the account holder's name with a distinct identifier such as a phone number, following the format "name@bank".

How to Change or Reset Your UPI PIN?

Here's how you can reset your UPI PIN:

• Tap the Profile Picture icon on the top-left of the homepage
• Tap on ‘Federal Bank Savings A/c’ under the ‘My Accounts’ section
• Tap on ‘Forgot UPI PIN’
• Tap ‘Reset Now’
• Enter OTP and ATM PIN
• Enter new UPI PIN

Here's how you can change your UPI PIN: 
 

• Tap the Profile Picture icon on the top-left of the homepage
• Tap on ‘Federal Bank Savings A/c’ under the ‘My Accounts’ section
• Tap on 'Change UPI PIN'
• Tap 'Change Now'
• Enter the old UPI PIN and then, the new one

And you're all set.

Conclusion

UPI is a leading cashless solution that enables 24/7 fund transfers without sharing bank details. It's secure, with two-factor authentication, and allows linking of multiple bank accounts for seamless transactions. UPI also offers convenient bill payments and mobile recharges, reducing reliance on physical payment methods.

Level Up Your Finance Game with Fi

Easily open a Federal Bank Savings Account through Fi. This account provides a VISA Platinum Debit Card and all UPI features. You can use Fi to safely stash your savings in deposits, earn additional interest, send and receive payments instantly, analyse expenses, and budget smarter. If you upgrade to other account plans within Fi — you get access to premium features like 0 forex, US Stocks investments etc. and not to mention — up to 3% rewards on all payments!

Frequently Asked Questions

1. What should I do to set my UPI PIN? 

Here's how you can change your UPI PIN: 
 

• Tap the Profile Picture icon on the top-left of the homepage
• Tap on ‘Federal Bank Savings A/c’ under the ‘My Accounts’ section
• Tap on 'Change UPI PIN'
• Tap 'Change Now'
• Enter the old UPI PIN and then, the new one

2. Is the UPI PIN given by a bank? 

No. You have to create your own UPI PIN. This makes it easy to remember.

3. How do I get my UPI PIN? 

To get an UPI PIN, sign up on apps like Fi Money, PhonePe, Paytm, or Google Pay. Once you link your bank, you will be asked to set up an UPI ID, post which you'll be asked for a secure UPI PIN of your choice.