How to Recover Money from a Wrong UPI Transfer?

UPI has made sending money easier than ever. With just a few clicks, you can pay friends, shop online or settle bills instantly. But in all that speed, mistakes can happen. You might end up sending money to the wrong person by accident. But don’t worry, such mistakes are more common than you might think. And the good news is that there are ways to get a UPI payment refund if you act fast.

Read on to learn more about how one can recover the money from a wrong UPI transfer.

Understanding an Incorrect UPI Transaction

A wrong UPI transaction happens when money is sent to an unintended person. This could be due to entering the wrong UPI ID, selecting the wrong contact or even a typo in the mobile number. Once you hit ‘send, ‘ the amount is instantly debited from your account. Luckily, there are systems in place for you to retrieve that amount.

First Steps You Can Take Towards Recovery

The faster you act, the better your chances of recovery. Here’s what you can do:

• Check the transaction details and confirm the mistake
• Contact the person you accidentally sent the money to
• If they agree, they can send the amount back to your UPI ID

But what if they don’t respond or refuse to return it? That’s when you raise a wrong UPI transaction complaint.

Methods to Recover Money Transferred to a Wrong UPI Address

There are 3 main ways to try to recover your money if a UPI transaction goes wrong. 

• Raise a Complaint with Your UPI App

If you have sent money to the wrong UPI ID, your first step should be to raise a complaint within your UPI app. Most apps have a simple process to help you report the issue quickly.

Step 1: Open your UPI app like Google Pay, PhonePe, Paytm or BHIM and log in to your account

Step 2: Head to the ‘Help’ or ‘Support’ section where you can report any transaction issues

Step 3: Find and select the incorrect transaction from your history

Step 4: Choose the issue that best matches your case, like a wrong UPI transfer or money sent to the wrong account

Step 5: Submit the complaint with all the details so the app can start reviewing it

Once you submit the request, the app team usually starts an internal check. They may reach out to the receiver’s bank or request a reversal. You can also call the wrong UPI transaction complaint number for support. Keep your transaction ID and payment details ready to speed up the process.

• File a Complaint with Your Bank

If the UPI app support doesn’t resolve it, you can try contacting your bank. They can escalate the issue through NPCI (National Payments Corporation of India). Here’s what you can do:

Step 1: Visit your bank branch or call customer care and explain what went wrong

Step 2: Share your transaction ID and payment details so the bank can trace the transfer

Step 3: Provide the UPI ID or mobile number where the money was sent to help identify the recipient

The bank can then lodge a complaint with the other bank through NPCI. This usually takes a few working days.

• File a Complaint with NPCI

If neither the UPI app nor the bank helps, you can go straight to NPCI. Here’s how:

Step 1: Visit the National Payments Corporation of India UPI dispute redressal page

Step 2: Click on ‘Raise a complaint’ to begin the process

Step 3: Fill in the form with your transaction details carefully

Once submitted, you will receive a reference number that you can use to track your wrong UPI transaction complaint.

[Source: How to reverse a wrong UPI transaction – ClearTax]

Escalate Legally if Needed

If a large amount is involved or fraud is suspected, report it to the police with full details. If nothing else works, legal action with expert guidance can be your best bet. 

Once you raise a wrong UPI transaction complaint, the concerned parties will review it. Recovering money from a wrong UPI transaction depends on how quickly you act. If you raise a complaint within 24 to 48 hours, your chances of recovery are much higher. This timeline is also recommended by the Reserve Bank of India (RBI).

Tips to Avoid Wrong UPI Transactions

A quick check can save a lot of hassle. Here are a few simple precautions:

• Double-check the UPI ID or mobile number before hitting send
• Add people to your ‘saved’ list in the app
• Send a test amount before transferring large sums
• Use the ‘pay to contacts’ option only if you’re sure of the number

If you’ve sent money to the wrong UPI by mistake, don’t panic. There are proper steps to recover it. But speed is key. The sooner you raise a complaint, the better your chances. Meanwhile, if you are in urgent need of cash while waiting for a refund, Fibe can help! 

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FAQs on Wrong UPI Transactions

1. Is it possible to receive a refund for an incorrect UPI transaction?

Yes, if you act fast and reach out to the wrong UPI transaction complaint number within 24-48 hours, you may be able to get a refund. It depends on how the bank and the receiver respond. 

2. Will I get my money back after following the recovery methods?

Yes, in most cases, you do receive your UPI payment refund. If the receiver cooperates or the bank confirms the mistake, your money will be refunded within no time. However, if the receiver denies it or the money has been withdrawn, recovery might take longer.

3. How can I complain about a wrong UPI transaction?

You can raise a complaint directly through your UPI app by selecting the incorrect transaction and reporting the issue. You can also contact your bank or use the National Payments Corporation of India complaint portal for further support.

4. How long does it take to recover money from a wrong UPI transfer?

The time can vary depending on the case and the response from the receiving bank. In most cases, it may take a few working days.

5. What is the UPI helpline number for complaints?

You can contact the UPI helpline by calling 155260 or 1800 120 1740. Make sure you have your transaction ID and payment details ready when you call for faster assistance.