Not using Yes Bank app for money transfers? These may be your best options

We are talking about WhatsApp Pay (in Beta), Amazon Pay and Google Pay. Here’s how you can send money via each of them and what’s the difference between each of them.

A security guard stands outside a Yes Bank branch at its headquarters in Mumbai. (REUTERS)

With RBI imposing a moratorium on Yes Bank, which resulted in a ₹50,000 withdrawal limit until April 3, 2020, it is understandable that you don't want to transact through your Yes Bank account for now. This also means less usage of Yes Mobile app for transferring funds and paying bills. Fortunately, you can connect your UPI account with a different bank account and transact using that.

Fortunately, you still have other options through which you can transfer and receive money directly to your accounts. We are talking about WhatsApp Pay (in Beta), Amazon Pay and Google Pay. Here's how you can send money via each of them and what's the difference between each of them.

This payment mode has been recently rolled out in a phased manner this year and has limited service to 10 million users in India.

How to use it

-- Launch WhatsApp and go to Settings.

-- Tap on the Payments tab.

-- Hit the add new payment method option.

-- Click on accept and continue.

-- Choose the name of the bank with which you have your UPI linked.

-- You will be asked to verify your number. The user needs to ensure that the number they are using for WhatsApp is the same as registered with their bank account.

-- To verify the number tap verify via SMS option to authenticate the account.

-- WhatsApp will now verify with your bank and pull up all accounts registered with your number.

In order to send money to another person all that you need to do is:

-- Go the chat window of the person you want to send money to.

-- Click on the attachment symbol and choose the payment option and tap on the accept terms and conditions option.

-- Key in the amount, enter the UPI. A confirmation message will appear in the chat window once the transaction is completed.

Amazon Pay Balance, Amazon Pay UPI and Amazon Pay ICICI Card are the three ways to make payment here.

You need to enable the Amazon UPI feature to send and request money and use the scan and pay feature.

In Amazon Pay Balance, recharge the account and make transactions. You can shop and make payments but can't transfer or accept money. The scan and pay feature is not applicable too.

Google's digital payment offering allows its users to transfer money as well as pay utility bills.

-- Open app and choose language

-- Your synced email ID will be detected and an OTP will be sent via SMS

-- Set up a Google PIN or screen lock for the app

-- Once you have completed the setting up process your name will appear on the screen. Tap on it

-- Verification SMS will be sent

-- After the verification, you have to enter the 4 digit UPI PIN option.

The difference

WhatsApp Pay as of now is only available for a limited number of users while Google Pay and Amazon Pay can be used by all on the app.

Google Pay and Amazon Pay users can pay utility bills. This is not doable on WhatsApp Pay

Only Google Pay allows you to discover nearby accounts through Tez mode

There is no provision of using the scan and pay facility in WhatsApp Pay while it is available on Google Pay and Amazon Pay