UPI has brought a huge change as people want to transfer money and receive it via mobile phones in India. But as goes the man’s convenience there always stands a high chance of making errors. Ever sent money to the wrong account through UPI – yes by mistake you might have done it. Finding out how to complain and going through the process is not easy but would ensure you get back your money. This article will explain to you some of the measures you need to take to solve a wrong UPI transaction.
What is Wrong UPI Transaction?
Wrong UPI transaction means it will be the situation where money has been mistakenly sent to the wrong person or wrong account. This usually happens because of:
- Entering the wrong UPI ID: Forgetting the correct account number, which is an easy way to go wrong and end up with an incorrect UPI ID.
- Choosing the wrong contact: Sending a message to a wrong person just by choosing the wrong contact from your contact list.
- Incorrect transaction: Transferring the wrong amount of cash.
The good news, however, is that most UPI platforms currently include options to report and redress such cases.
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Wrong Transactions Happening with UPI: Follow these Steps After Suing the Loss
Check the Transaction Status
The validity of the transaction to confirm whether it has gone through or not is essential before taking any step. Occasionally, transactions do not go through or are in a transactional state, and the funds will likely be returned to your account. Google pay, phone pay, and paytm are few UPI apps which have made it very easy for the user to check the status of those transactions.
Contact the Recipient
The best thing to do when you have sent money to the wrong person is to talk to the other person. I got explicit and told them the circumstances that led to the loss and asked for the money to be returned. When the recipient is uncooperative or indifferent to the complaint you will need to go through formal grievance procedure.
Raise a Complaint via UPI App
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In case, the contact with the recipient doesn’t work then the second method is to register your complaint through the UPI app being used. Here’s how to do it:
Google Pay:
- Select Google Pay, go to “Transaction History.”
- They should select the wrong transaction and click on a button that says, “Raise A Dispute”.
- Select the category like ‘Transferred money to the wrong person’.
- Make an interaction and complete the investigation process by filling the form.
PhonePe:
- In PhonePe, first click on the “History” tab.
- Right click over the transaction and it gives an option “Contact Support.”
- Enter the mandatory fields and file a complaint.
Paytm:
- Open Paytm application and go to the passbook tab available at the bottom of the homepage.
- Swipe right the specific transaction and tap “Raise an Issue.”
- Select the right subcategory, provide the details and wait for the response.
Contact Your Bank
In case you service provider, which is the UPI app cannot help you with the problem, then the next place to log to is the bank. Customers can either contact the helpline Centre of the bank or personally visit the branch. Banks have a responsibility to help with the problems regarding UPI. When calling the bank, one must make sure to offer the transaction reference number and as many details as possible.
How to file a Formal Complaint
If all your audible complaints have borne no fruits as everyone turns blind to your plight, shame, you can take the matter legal. Here’s how you can do it:
1. National Payments Corporation of India (NPCI)
NPCI takes care of all UPI operations that happen in India. The NPCI also listens to users who have failed to solve their issues with the bank or the UPI service providers.
The next step is to go to the UPI section of the app and click on the option of ‘Dispute Redressal’.
In the complaint form, please enter all the related transaction information and relevant proofs.
Your complaint will be forwarded to NPCI and due to the appropriate communication, your bank will address the problem.
2. Most significant progress has been made where consumers can approach an RBI Ombudsman.
In case if NPCI or your bank does not solve the problem within the time period of 30 days, then you can complain the RBI Ombudsman. Through this case, the Ombudsman serves as a middle person to address customer complaints against their finance related companies.
To lodge a complaint with the Ombudsman, first go to the RBI site and clicking on the Ombudsman Scheme, the option of the Complaints Management System will appear.
Ensure you properly complete the online form through the following fields: Transaction details and other supporting documents.
The Ombudsman will consider your case and try to achieve its resolution as soon as possible.
Important Things to Remember
Always Crosscheck The UPI ID
Always compare the name and the UPI id/phone number preceding any kind of a UPI transaction to avoid falling prey to fraudulent activities. The best way to ensure that you do not make any mistakes is to cross reference the details.
Act Quickly
The earlier you find out that there is an error and report it, the better the odds of getting your money back. Time however is of the essence since UPI transactions take place instantly.
Note the Transaction ID
Make sure to/always document the ID of the transaction. This is useful for raising disputes or to monitoring status of your complaint against the UPI app, bank or NPCI.
Recovery Isn’t Guaranteed
However, if the recipient is being uncooperative or has refused to return the money, then the probabilities of retrieving the entire sum shall probably be limited. Nevertheless, if you follow the steps aforementioned, your odds will rise.
Conclusion
It is not rare to have wrong transactions from UPI, but it can help if you understand how to report it so it is not a hassle. Act fast, inform the recipient if you can, and report through UPI app or your bank, if required. In this case, if managed well, the effective steps on how to get back the money for the bad venture and how to close the deal can be achieved.
