These days, UPI has transformed how we handle money by offering a quick and convenient method to send and receive money. That too with the ease of tapping the screens on your mobile phones. However, mistakes may happen, and you might need to reverse a wrong transaction done with the UPI money transfer app. There are several ways to reverse your wrong UPI transactions, whether a wrong amount transfer, an incorrect recipient, or any other issue. This post will help you learn how to do reverse UPI transactions.
What should you do first?
The first step is to find out where the wrong UPI transaction has happened. There are several reasons for the wrong UPI transactions. These include the wrong UPI registered phone number, the sent amount might be wrong, or you might have scanned an incorrect QR code. After you have found where the mistake occurred, make sure that you have entered the correct UPI ID and check twice the entered amount.
How do you initiate the reversal process?
If you have wrongly sent the money to your family or friends, it will be easy to get it back. But what if you have sent it to someone you don’t know? Below are the steps you need to do for the UPI reversal process.
- Contact the recipient
You should first contact the person with whom you have made the wrong UPI transactions and request that your funds be reversed. You should give them the necessary details and ask them to cooperate to reverse the money.
- Contact Customer care support
If the recipient is a stranger, you should report the wrong UPI transaction to the customer support team of your UPI app. You should provide them with all the necessary details and evidence of your wrong UPI transaction.
- Look for assistance from your bank
You can contact your bank and inform them about the wrong UPI transactions, providing them with the necessary UPI account details and evidence. They will help you to initiate the reversal process to recover the wrongly transferred fund.
How do banks handle wrong UPI transactions?
After receiving the complaint about a wrong UPI transaction, your bank will start an investigation to verify the details you have provided. This may include reaching out to the receiver’s bank to make sure the transaction enables the reversal process.
Banks try their utmost to solve the wrong payment problems punctually. However, there can be some delay in the process, depending on how complex the case is and the cooperation of all parties involved. You must follow up regularly for a timely resolution.
Based on the findings of the investigation, your bank may fully or partially reverse the transactions. If the recipient doesn’t cooperate or denies receiving money wrongly, the process takes a lot of time.
Final Thoughts
There will always be the chance of wrong transactions while making UPI money transfers. Don’t stress yourself for this. Instead, try out the above-mentioned tips to initiate your wrong UPI transactions. Make sure you quickly verify your transaction and reach out to the bank and UPI customer support.
