How To Recover Money Sent To The Wrong UPI ID: A Step-By-Step Guide

As the Unified Payments Interface (UPI) continues to grow in popularity across India, the number of accidental transactions, such as sending money to the wrong person, is also on the rise.

However, there’s no need to panic – swift action can help you recover your funds. Here’s what you should do if you find yourself in this situation.

Immediate Action: Start With Documentation

If you’ve accidentally transferred money to the wrong UPI ID, it’s crucial to act quickly.

The first step is to take a screenshot of the transaction as proof. This serves as evidence for the bank or authorities when you initiate the recovery process.

Contact Your Bank Or NPCI

Once you’ve documented the transaction, you need to contact your bank immediately.

You can either call your bank’s customer service or visit the branch in person with the transaction details, including both your information and that of the recipient.

Alternatively, you can reach out to the National Payments Corporation of India (NPCI) helpline at 1800-120-1740 to lodge a complaint.

It is essential to do this within three days of the transaction for the best chance of recovering your money.

NPCI’s Dispute Redressal Mechanism

The NPCI has a dedicated system in place for resolving UPI-related disputes. Here’s how to file a complaint:

1. Visit NPCI UPI Dispute Redressal Portal
2. Select the ‘Dispute’ Tab
3. Choose Transaction Type: Select either ‘Person-to-Person’ or ‘Person-to-Merchant’
4. Fill in Necessary Details: Provide the following:
   • Transaction ID
   • Bank Name
   • UPI ID
   • Amount
   • Transaction Date
   • Your email ID and mobile number
   • A recent copy of your bank statement
5. Submit the Form

After submission, NPCI will investigate and take the necessary steps to help recover your funds.

Know Your UPI Transaction Limits

Understanding UPI transaction limits can help avoid accidental large transfers in the future. Here are the typical limits for different types of payments:

• General Transfers: Up to Rs 1 lakh per transaction
• Insurance or Capital Market Payments: Up to Rs 2 lakh
• IPO Applications: Up to Rs 5 lakh

(Note: These limits may vary slightly depending on your bank.)

Escalating The Issue

If your bank or NPCI does not resolve the issue within 30 days, you have the option to escalate the matter.

The Reserve Bank of India’s Banking Ombudsman acts as an independent mediator and can help resolve the complaint within another 30 days.

Complaints can be submitted online via the RBI’s official website.

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As digital payments become increasingly common, it’s essential to stay informed about your rights and the steps you can take if things go wrong.

By acting quickly and following the proper procedures, you can minimise stress and increase your chances of recovering any funds lost in a UPI-related mistake.