UPI Money Sent to the Wrong Account? Here's How to Get it Back

Sometimes, money is transferred to the wrong account or the wrong UPI ID. This can be a very stressful situation, especially when a large amount of money is involved. But there's no need to panic.

Digital payments have made our lives much easier.  Previously, people had to go to the bank, stand in long queues, and fill out checks to send money, but now, through UPI and online banking, we can send money to anyone in just a few seconds. Apps like Paytm, Google Pay, PhonePe, or BHIM have made this process incredibly fast and simple. But with this speed comes a potential problem.

Sometimes, money is transferred to the wrong account or the wrong UPI ID. This can be a very stressful situation, especially when a large amount of money is involved. But there's no need to worry. By following the correct procedure for filing a complaint, there's a possibility of getting your money back. So, let's find out what to do if money is accidentally transferred to the wrong account and how to get it back.

The Problem of Wrong Transactions

UPI transactions are instant. Once a payment is made, it's difficult to stop it. This is why many people panic and don't know what to do immediately. However, the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI) have established rules for such situations. Under these rules, customers can get their money back by filing a complaint. The most important thing to do in case of a wrong transaction is to act immediately. The sooner you file a complaint, the higher the chances of getting your money back.

What to do if money is accidentally transferred to the wrong account?

1. Contact the Customer Care of the UPI App - If you have accidentally sent money through Google Pay, PhonePe, Paytm, or BHIM, first go to that app. The app will have a Help, Support, or Report a Problem option. Go there, select the wrong transaction, and file a complaint. While filing the complaint, it is important to provide the transaction ID, UTR number, date, and the amount sent. Based on this information, the app's team will request the receiver's bank to return the money through NPCI.

2. Contact your bank - If you don't get immediate help through the app, contact your bank. You can call your bank's customer care number or visit your nearest branch to file a written complaint. The bank will initiate the process of reversing the transaction by contacting the receiving bank through NPCI.

3. File a complaint with NPCI's helpline - You can also file a complaint directly by calling NPCI's helpline at 1800-120-1740. NPCI's website also has an online complaint option in the Dispute Redressal Mechanism section. When filing a complaint, you will need to provide information such as the transaction ID, UTR number, the amount transferred, and both UPI IDs.

4. Seek help from the RBI Banking Ombudsman - If you don't get a resolution from your bank or NPCI, you can seek help from the RBI Banking Ombudsman. This is the last resort.