UPI Refund Process: Have you accidentally sent money to the wrong UPI ID? Don’t panic.
If you act quickly, you can get your money back with the help of NPCI (National Payments Corporation of India) and the RBI (Reserve Bank of India).
Here’s the complete process to recover the funds.
What to Do If Money Is Sent to the Wrong UPI ID?
If you’ve sent money to the wrong UPI ID, take these steps immediately:
Take a Screenshot: Capture a screenshot of the transaction as proof.
Contact Your Bank: Visit your bank branch or call your bank’s customer service. Provide full details of the transaction, such as:
Sender and receiver information
Date, time, and amount of the transaction
Call NPCI: You can also call the NPCI helpline at 1800-120-1740 to file a complaint. Be sure to lodge your complaint within three days to avoid delays in getting your money back.
How to File a Complaint Online with NPCI?
NPCI has set up a platform for handling UPI-related issues. Follow these steps to lodge a complaint:
Go to NPCI’s UPI Dispute Redressal Platform.
Select the ‘Dispute’ Tab.
Choose the Transaction Type: Select either ‘Person-to-Person’ or ‘Person-to-Merchant.’
Fill in the Details: Provide your transaction ID, bank name, UPI ID, amount sent, date, email, mobile number, and a copy of your bank statement.
Submit the Form: Once submitted, NPCI will investigate the issue and take the necessary action.
Important UPI Transaction Limits
It’s important to know the UPI transaction limits to avoid any mistakes:
Normal Transfers: Up to ₹1 lakh per transaction
Insurance or Capital Market Payments: Up to ₹2 lakh
IPO Applications: Up to ₹5 lakh
What to Do If NPCI Doesn’t Resolve the Issue?
If NPCI or your bank doesn’t resolve the issue within 30 days, you can escalate the matter to the RBI Banking Ombudsman.
This independent body resolves disputes between customers and banks. You can file a complaint online via the RBI website.
