In the era of digital payments, UPI (Unified Payments Interface) has made transactions faster and easier. However, with just a single wrong digit, your money can be sent to the wrong UPI ID, leading to potential loss. Here’s what you should do if you accidentally transfer money to the wrong account and how quickly you can expect a refund.
Steps to Take After a Wrong UPI Payment:
1. Immediate Action is Key
If you realize that the payment went to the wrong UPI ID, act fast. Contact your bank’s customer care or the UPI service provider (e.g., Google Pay, PhonePe, Paytm) as soon as possible. You can also report the issue by calling the toll-free number: 18001201740. Provide the transaction details to customer care for assistance.
2. Follow RBI Guidelines
According to RBI rules, if you promptly report a wrong UPI transfer, you have a good chance of receiving a refund quickly. Timing is crucial here.
3. Escalate to NPCI if Necessary
If your bank or UPI service provider is unable to resolve the issue, escalate it to the National Payments Corporation of India (NPCI). Visit NPCI’s official portal, go to the “What We Do” section, select “UPI,” and fill in the details of the wrong payment, including your bank name, UPI ID, and contact details.
Timing Matters: File a Complaint Within 3 Days
- For the best chance of recovering your money, file your complaint within three days of the mistaken payment. Delaying this process reduces your chances of getting a refund.
- If you don’t receive a resolution within 30 days, escalate the complaint to the Banking Ombudsman for further action.
By acting quickly and following these steps, you can increase your chances of getting a refund for a wrong UPI transaction.