UPI Reversing: You can get your money back through UPI reversing. However, it is a difficult process. Apart from this, the policy of the bank and UPI platform also matters in this process.
Through UPI applications like Paytm, PhonePe, Google Pe and BHIM UPI, you can easily complete tasks like shopping, ticket booking and bill payment. Although these applications have made our daily life much easier, still sometimes we have to face problems because of them. For example, sometimes it happens that we transfer money to someone else by mistake. In such a situation, we become very worried that how can we get our money back?
During the last few years, the trend of UPI payment has increased very rapidly. The biggest reason for this is that through this you can transfer money from anywhere to anyone. Through this, money can be sent very easily in a jiffy. Apart from this, through UPI applications like Paytm, PhonePe, Google Pe and BHIM UPI, you can also complete tasks like shopping, ticket booking and bill payment very easily. Although these applications have made our daily life much easier, still sometimes we have to face problems because of them. For example, sometimes it happens that we transfer money to someone else by mistake. In such a situation, we become very worried that how can we get our money back?
This is how you can get your money back
You can get your money back through UPI reversing. However, it is a difficult process. Apart from this, the policy of the bank and UPI platform also matters in this process. Also, you should take immediate action on this and it is also important that you have complete details of transaction ID, transaction date and amount. Apart from this, you can also check all the terms and conditions of your bank and UPI service provider for accurate information related to this.
Can UPI be reversed?
Anup Nair, CEO of In-Solutions Global, in his statement to News 18, told that UPI transactions are generally considered final, but there are situations where you can request to reverse or dispute the transaction. You can appeal to reverse a transaction made in error or an unauthorized transaction.
In these cases you can appeal for UPI reversal
You can appeal for UPI reversal in situations like mistakenly sent money, unauthorized payment, fraudulent transaction, unaccepted payment and technical fault. Nair said that in case of fraudulent transactions, it is important to report the fraud to BHIM or NPCI customer care. However, there is no guarantee of a successful reversal. To avoid such situations, it is important to verify the details of the person to whom the money is to be sent, enter the correct amount and be wary of unknown merchants.
UPI reversing cannot happen in this situation
It is also important to keep in mind that UPI payments cannot be reversed. Once your payment has been approved, it is not possible to reverse it. But then if you want to do this then you should immediately talk to your UPI provider. If your bank or service provider does not listen to your complaint, then you can also file a complaint with NPCI for this.
