2 minutes agoAuthor: Sandeep Singh
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In this era of digitalization, making payments and transferring funds has become more convenient and easier than ever.
UPI (Unified Payments Interface) has emerged as a game changer in the world of digital transactions. This is the reason why the trend of digital payments has grown rapidly in the last few years. Now money transactions are done in just a few seconds by scanning the QR code.
In India, 1,388 crore transactions were done through UPI in June 2024. During this period, a total amount of Rs 2,007 lakh crore was transferred. The number of transactions has increased by 49% on an annual basis.
UPI has not only provided the facility of making digital payments but has also almost eliminated the need for cash.
However, many times people transfer money to the wrong UPI ID due to haste or carelessness, after which they start getting worried about getting the money back.
There is no need to panic if money is transferred to the wrong UPI ID, but there is a need to be smart. For this, you can follow some easy tips, by which the wrongly transferred money will be returned to your account.
so today news of need I will talk about what to do if money is transferred to the wrong UPI ID. Also, we will know that-
- What are the reasons why money gets transferred to the wrong UPI ID?
- What things should be kept in mind in case of wrong money transfer?
In India, systems like UPI are operated by the National Payment Corporation of India (NPCI). Before moving ahead, see how much money has been transacted through UPI ID transactions this year.
Question: What could be the reason for transferring money to a wrong UPI ID?
answer- Haste and carelessness are a big reason for sending money to the wrong UPI ID. People often enter their UPI ID in a hurry without checking it. Due to which they end up making such mistakes.
Let us understand these points given in the graphic in detail.
- Many times one may inadvertently enter wrong UPI ID due to typing mistake or misunderstanding of the receiver.
- UPI ID is based on names or words. In such a situation, sometimes you can mistakenly choose an ID that is very similar.
- If you scan a QR code for digital payment, sometimes you may get confused with multiple QR codes placed at one place and money may get transferred to the wrong QR code.
- Sometimes scammers may deliberately provide a wrong UPI ID for the purpose of scamming you and you may transfer payment on it and lose money.
- There can also be technical problems in the UPI app or server, due to which the payment may be transferred to the wrong UPI ID.
Question: What should be done if money is transferred to the wrong UPI ID?
answer- If you accidentally send money to a UPI ID, do not panic. To get the money back, first contact the person in whose account the money has been transferred. Request him to return the money. If he does not return the money, then immediately contact the customer care number of the UPI app (Google Pay, Phone Pay, Paytm) from which the transfer has been made.
Apart from this, you can also lodge a complaint on the NPCI portal. Or you can also ask for help from your bank. For this, all the necessary evidence will have to be given to the bank immediately. With this, you can easily get your money back.
Understand this from the graphic given below.
Let us understand these points in detail.
- First of all, lodge a complaint on 18001201740. After this, go to your bank and write an application in which fill all the necessary information. Give them all the necessary details and documents.
- Complaint can also be lodged by visiting this website https://rbi.org.in/Scripts/Complaints.aspx.
- Report the erroneous transaction to the customer support team of your UPI app. Provide them with all the relevant details and proof of the transaction. This will help you initiate the refund process.
- If you are not satisfied with the response of your bank or UPI app’s customer service, you can escalate the issue to the Banking Ombudsman. They can mediate between you and the concerned parties to resolve the dispute.
- Apart from this, if the problem is not resolved by the customer support of the app, you can complain on the NPCI portal. Provide them with the transaction details and proof and they will investigate the matter further.
Question- What is the process to lodge a complaint on NPCI portal?
answer- If you are not getting any help from the customer care service, then you can complain on the NPCI portal. For this, follow these steps given below.
- First of all go to the official website of NPCI https://www.npci.org.in/ Go to.
- After this go to the option of Get in touch and click.
- After this fill all the necessary information like name, email ID.
- After submitting this, select Dispute Redressal Mechanism to proceed further.
- Under the complaint section, enter the transaction details which will include UPI transaction, virtual payment address, amount transferred, date of transaction, email ID and mobile number.
- Apart from this, when asked for the reason, select the option of “Incorrectly transferred to another account”. After this, submit it.
Question: What should be kept in mind if money is transferred to the wrong account?
answer- According to the new guidelines of Reserve Bank of India (RBI), if money is transferred to an account by mistake, then the money can be refunded within 48 hours. For this, after making payment through net banking and UPI, keep the message received on the phone safely. Do not delete it.
Actually this message contains the PPBL number, which can provide necessary help to get the money refunded. You can register a complaint by taking a screenshot related to the wrong transaction and calling the customer care support of Google Pay, PhonePe, Paytm or UPI app.
If the recipient and payer bank are the same then the refund will take less time. But if both have accounts in two different banks then it will take more time to refund the money.
Question: Is there any time limit to complain in case of a wrong transaction?
answer- If the transaction has gone wrong, you should complain immediately. It is necessary to complain within 48 hours of the transaction.
After this, there is no guarantee of getting the money back if you complain.
If the bank does not facilitate reversal, you have the right to file a complaint with the Ombudsman under Regulation 8 of the Reserve Bank of India Ombudsman Scheme for Digital Transactions, 2019.
Always check thoroughly before making any digital payment. Entering even a single wrong digit in the recipient’s contact number can result in the amount being transferred to the wrong person. So, check all the necessary details before making any online payment to anyone.
