Solution for wrong UPI transaction

Today, UPI has become a part of our everyday life. Whether you want to buy vegetables, pay the electricity bill or send money to a friend, everything is done in seconds. But sometimes it happens that the payment gets stuck, shows failure or money is deducted from the account. In such a situation, the biggest question is whether the money will come back or not, and what will the bank do about it.

What is the real reason for UPI failure?

Often people assume that if payment is not made then UPI is down, but this does not happen every time. Sometimes banks or UPI apps have their own internal limits like how many transactions can be done in a day or sending more than a certain amount is not allowed. There are separate and higher limits for certain categories like insurance premium or investment payments. If the merchant is not tagged properly or your bank does not support that category, a large amount may fail. In such a situation, instead of sending a large amount at once, it is easier to send it in small parts.

What happens to your money if UPI fails?

There are generally two situations in which UPI fails. First, the payment failed and the money was not deducted from the account. It is definitely troublesome, but it is safe. The second situation is a bit stressful, the payment appears failed or pending, but the money gets deducted from the account. In most cases this money does not go away forever. According to RBI rules, automatic reversal should happen within the stipulated time. If the money is not returned within the stipulated time, there is also a provision for compensation to the customer.

What your bank will and won't do

The bank or UPI app can check the status of the transaction, file a dispute and initiate the process for reversal if the payment has indeed failed. There is a fixed grievance redressal system under NPCI. But the bank will not do that if you accidentally send money to a wrong person and the transaction is successful, then it will automatically take it back. Successful payment is not considered a failure. In such cases, getting the money back depends on whether the other person makes a refund or it is a case of fraud.

How to raise a dispute correctly?

Whenever there is a problem in UPI, first of all maintain the important information like UPI reference number, date, time, amount and screenshot. First complain through Report a problem or Help option in the same UPI app. If solution is not available from there, then contact the customer care of the bank and note down the complaint number. Even after this, if things do not work out, a complaint can be made under the Integrated Ombudsman Scheme of RBI.

A simple rule that will save you from getting upset

If any transaction is stuck, do not make the mistake of repeating the same payment again and again. This can lead to duplicate debits and complicate the matter further. First make it clear whether the old transaction has failed or has been reversed, only then make a new payment.