UPI Payment Tips: UPI payment was made to the wrong address, RBI told how to get the money back..

Digital payment has made our lives easier to a certain extent. Now we can make online payments of lakhs of rupees in a jiffy. UPI has an important contribution to making online payments easier.

Now we can easily make online payments by scanning a QR code or by entering a mobile number. In such a situation, many times UPI users make transactions on the wrong UPI ID in a hurry. In such a situation, there is a problem in getting the money back.

If you also accidentally make a transaction on the wrong UPI ID, then you do not need to panic. Reserve Bank of India (RBI) has issued new guidelines (RBI New Rules For UPI Payment) to address the concern related to wrong transactions from UPI. According to the new guidelines, if payment is made on the wrong UPI ID, then the money can be refunded within 24 to 48 hours.

If the user sending and receiving the money is a customer of the same bank, then this refund will be done in less time. On the other hand, if both users are customers of different banks, then the refund process may take more time.

Apart from this, we are going to tell you some ways with the help of which you can easily get a refund.

You should first contact the person to whom the payment has gone by mistake. You can request that person to send the money back by sharing the screenshot of the payment.

If the user receiving the money refuses to refund, then you can register a complaint by calling the toll-free number 1800-120-1740.

You can talk to the customer care support of the UPI-based app through which you have made the payment. Share the transaction details with customer care support and register a complaint.

You can also contact your bank regarding the wrong UPI payment. The bank can help you in refunding the money.

UPI transactions are managed by the National Payments Corporation of India (NPCI). You can also complain with NPCI.

You can get your money back by following all these easy methods.

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