Nowadays, everyone uses online payments. Anyone who uses a smartphone will likely have a UPI-based app on their phone. Since the advent of UPI, the use of cash has decreased. From paying for tea at a tea stall to train fares and groceries, UPI payments are being used everywhere.

Sometimes, UPI payments fail, and money is debited from your bank account. People get worried when this happens. But you don't need to worry. You can easily recover your money. Let's find out how.

How to recover money deducted during a failed UPI payment?

If money has been debited from your bank account during a UPI payment, you don't need to panic. According to RBI and NPCI guidelines, the money can be easily recovered. You can recover your money using the 5 methods given below:

Wait for an automatic refund

File a complaint on the UPI app

Contact your bank

File a complaint with NPCI

Contact the RBI Ombudsman

Refund arrives within 48 hours.

Most failed UPI transactions are automatically reversed. According to the RBI, if a transaction fails but money is debited from your account, the money should be credited back to your account within 48 hours.

File a complaint through the UPI app.

File a complaint in the UPI app through which you made the payment. Every app has a complaint option. You can select that option and register your complaint.

If your money is not returned on time, your Payment Service Provider (PSP) or Third-Party Application Provider (TPAP) will have to escalate the matter to your bank and NPCI.

Contact your bank

If your money is not returned even after filing a complaint in the UPI app, you should contact your bank with the details of the failed UPI transaction. RBI guidelines state that banks must ensure that failed transactions are rectified within the stipulated time, and if money has been debited incorrectly, the bank must refund the amount.

Complain directly to NPCI.

If the bank or app provider fails to resolve your complaint, immediately call the NPCI toll-free number 1800-120-1740 and register your complaint.

NPCI monitors failed UPI transactions and coordinates with banks and apps to ensure resolution.

Contact the RBI Ombudsman

If the bank does not resolve the complaint within one month, you can escalate the matter under the Integrated Ombudsman Scheme, 2021.

The Banking Ombudsman provides a free mechanism for resolving complaints related to deficiencies in services provided by entities regulated by the RBI.

Disclaimer: This content has been sourced and edited from Dainik Jagran. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.