How Quickly Can You Get A Refund After A Wrong UPI Transfer?

In the past, people primarily used cash for transactions or visited the bank to transfer money. However, with advancements in technology, these processes have become much simpler. Nowadays, people often use UPI (Unified Payments Interface) for instant transactions , whether it's buying goods or transferring money to someone else.

But while UPI transactions are fast and convenient, mistakes can happen just as quickly. A single mistyped digit can result in your money being sent to the wrong UPI ID, causing potential loss. So, what can you do if this happens? Here are the steps and rules to help you get a refund .

What to Do If You Make a Wrong Payment

If you've made a UPI payment, it's essential to immediately check whether the payment was sent to the correct UPI ID. If you realize that the payment went to the wrong ID, acting quickly can help you secure a refund. Delaying your response could make the refund process more difficult.

The first step after discovering a mistaken payment is to contact your bank's customer care service or the UPI service provider (such as Google Pay, PhonePe, Paytm, etc.). You can also call the toll-free number 18001201740 to report the issue. When contacting customer care, provide them with all the necessary payment details.

According to the Reserve Bank of India's (RBI) guidelines, if you notify your payment service provider about the incorrect UPI transaction, you stand a good chance of receiving a refund promptly.

Escalating the Issue to NPCI

If your bank or UPI service provider is unable to process your refund, you have the option to escalate the issue to the National Payments Corporation of India (NPCI). Visit the NPCI's official portal at https://www.npci.org.in/ and navigate to the "What We Do" section. Here, select the UPI option and provide all the details about the incorrect payment, including your bank name, UPI ID, phone number, and email ID.

Timing is Crucial: File a Complaint Within Three Days

Timing plays a crucial role in the refund process. If you file a complaint within three days of the mistaken payment, your chances of receiving a refund are much higher. However, if you delay and fail to report the issue within three days, it becomes significantly harder to recover your money.

If you've filed a complaint and haven't received a refund within 30 days, you can escalate the matter to the Banking Ombudsman for further assistance.