UPI Payment: From villages to cities, UPI is now used practically everywhere. Using the UPI app, you may transfer money in minutes. The introduction of UPI has also decreased the possibility of cash theft.
But what happens if your payment is sent to the wrong cellphone or UPI ID within minutes? The main concern is whether a payment made to the incorrect number can be recovered. Let’s hear from professionals about this.
We chatted with Mukesh Pandey, Director of Rupee Paisa, about this. He described how we might recover payments made to the incorrect account, number, or UPI ID. What actions shall we take?
UPI Payment about What did the specialist say?
He stated that since UPI payments have grown more convenient, incidences of unintentionally sending money to the wrong number have proliferated. According to experts, it is feasible to recover money deposited to the wrong account, but only if you act immediately.
First, without delay, contact your bank branch or customer service and provide the transaction’s UPI ID. The bank will require that the recipient repay the payment. If the recipient agrees, the money can be simply reimbursed. If they refuse, the issue can be referred to the RBI Ombudsman through the bank.
According to the NPCI, 12-15% of UPI complaints in 2024 were over money being transmitted to the wrong account, with the majority of them rectified only after consumers reported them promptly. As a result, before proceeding with any transaction, double-check the name and number.
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