RBI New Rules For UPI Payment: How to get money back if transferred to wrong UPI ID, know here

RBI New Rules For UPI Payment: Many times in a hurry, we make payment on the wrong UPI ID. In such a situation, the question comes to mind how to get the payment. RBI has also issued new guidelines regarding wrong UPI transactions. Now the money will be returned within 24 to 48 hours. Apart from this, you can also adopt some methods. Let’s know in the article.

Digital Payment has made our life easier to a great extent. Now we can make online payment of lakhs of rupees in a pinch. UPI has an important contribution in making online payment easy.

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RBI New Rules For UPI Payment: Now we can easily make online payment by scanning QR code or by entering mobile number. In such a situation, many times UPI users make transactions on wrong UPI ID in a hurry. In such a situation, there is a problem in getting the money back.

If you also accidentally make a transaction on the wrong UPI ID, then you do not need to panic. The Reserve Bank of India (RBI) has issued new guidelines (RBI New Rules For UPI Payment) to address the concerns related to wrong transactions from UPI. According to the new guidelines, if payment is made on the wrong UPI ID, then the money can be refunded within 24 to 48 hours.

If the user sending and receiving the money are customers of the same bank, then this refund will be done in less time. On the other hand, if both the users are customers of different banks, then the refund process may take more time.

Also Read- Special FD: These banks are offering up to 8.85% interest on limited period FDs, get FD done quickly

Adopt this method

1. Apart from this, we are going to tell you some methods with the help of which you can easily get a refund.
2. You should first contact the person to whom the payment has gone by mistake. You can request that person to send the money back by sharing the screenshot of the payment.
3. If the user receiving the money refuses to refund, then you can register a complaint by calling the toll-free number 1800-120-1740.
4. You can talk to the customer care support of the UPI based app through which you have made the payment. Share the transaction details with the customer care support and lodge a complaint.
5. You can also contact your bank regarding the wrong UPI payment. The bank can help you in refunding the money.
6. UPI transactions are managed by the National Payments Corporation of India (NPCI). You can also lodge a complaint with NPCI.

You can get your money back by adopting all these easy methods.

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