STEPS NEED TO BE TAKEN WHEN MONEY SENT IN WRONG ACCOUNT VIA UPI

 

In recent time it is very essential to know how money can be send via UPI. UPI means Unified Payment Interface with increasing trend in transfer of money via UPI it is necessary to know how to get money back if one has sent money to wrong UPI address.

In this respect RBI has issued guideline to help in such situations:

Contact the recipient directly

First, try to contact the person who received the money by mistake. Politely ask them to return it, and make sure to provide them with the transaction details.

Reach out to UPI app customer support

If the recipient isn’t cooperative or if you can’t reach them the next step is to report the transaction to your UPI app’s customer support. They can help you start the refund process.

File a complaint with NPCI

If one is unable to resolve the issue through customer support. One can escalate the matter by filling a complaint with the National Payment Corporation of India (NPCI)

Get help from your bank

Inform your bank about the mistaken transaction as soon as possible. Give them all the necessary details, and they can help initiate chargeback to recovery the funds.

Call the toll-free number

In case of a wrong UPI address transaction, you can also call the toll-free number 1800-120-1740 for assistance.

What if you sent money by scanning wrong QR code

In this case too, report the error to your UPI app’s customer support along with the transaction details.