Can you reverse wrong UPI transactions?
Can you reverse wrong UPI transactions?
A wrong UPI transfer cannot simply be cancelled, but users can raise a dispute through their UPI app and bank to seek recovery of the money
UPI wrong transfers are not always irreversible.
Report wrong UPI transfers to app or bank immediately.
NPCI offers a dispute mechanism for unresolved issues.
UPI has made transferring money almost instant, but the same speed can become a problem if you enter the wrong UPI ID or send money to the wrong person.
A successful UPI payment cannot be cancelled once it has been authorised. However, a wrong transaction is not necessarily irreversible.
Users can raise a complaint with their UPI app or bank and seek recovery of the amount. NPCI also allows users to register complaints related to UPI transactions through its dispute mechanism.
What should you do after sending money to the wrong UPI ID?
The first step is to report the transaction immediately. Check the transaction details and keep the UTR or transaction reference number, date, amount and recipient details ready. The complaint can first be raised through the UPI app by selecting the relevant transaction. Users should also contact their bank and inform it that the payment was mistakenly sent to the wrong beneficiary.
“A wrong UPI transaction is not necessarily irreversible, but the speed of action can significantly influence the chances of recovery. The first step should be to immediately check the transaction status and save the UTR/reference number, transaction date, amount and recipient details,” said Sarvjeet Singh Virk, CEO of jUMPP.