By Admin 
Digital payments have made our lives very easy. Earlier, to send money, people had to go to the bank, stand in long queues and fill cheques, but now through UPI and online banking, we can send money to anyone in a few seconds. Apps like Paytm, Google Pay, PhonePe or BHIM have made this process very fast and simple. But with this speed a problem has also increased.
Many times money is transferred to the wrong account or wrong UPI ID. This situation can be very stressful, especially when a large amount has been transferred. But there is no need to be afraid. If you complain properly, there is a possibility of getting your money back. So let us know what to do if money goes to the wrong account by mistake and how it can be brought back.
wrong transaction problem
UPI transactions are instant. Once a payment is made, it is difficult to stop it. For this reason many people get scared and are unable to do anything immediately. But the Reserve Bank of India (RBI) and National Payments Corporation of India (NPCI) have made rules for such a situation. Under these rules, the customer can get the money back by complaining. The most important thing is to take immediate action when an incorrect transaction occurs. The sooner you complain, the greater are the chances of getting your money back.
What to do if money goes to the wrong account by mistake?
1. Contact Customer Care of UPI App – If you have accidentally sent money through Google Pay, PhonePe, Paytm or BHIM, then first go to that app. There is an option of Help, Support or Report a Problem in the app. Go there, select the wrong transaction and lodge a complaint. While making a complaint, it is important to provide information about transaction ID, UTR number, date and amount sent. Based on this information, the app team requests the receiver bank to withdraw the money through NPCI.
2. Contact the bank – If the app doesn’t help immediately, contact your bank. You can call the customer care number of the bank or go to the nearest branch and lodge a written complaint. The bank starts the process of getting the money reversed by contacting the receiver bank through NPCI.
3. Complain on NPCI helpline – You can also lodge a complaint by directly calling NPCI’s helpline 1800-120-1740. There is also an option for online complaint in the Dispute Redressal Mechanism section on the NPCI website. While making a complaint, you have to provide information like transaction ID, UTR number, amount sent and both UPI IDs.
4. Take help of Banking Ombudsman of RBI – If the solution is not available from the bank or NPCI, then you can take help from the Banking Ombudsman of RBI. This is the last option.
Also read: If you are unable to pay the credit card bill, can you be arrested? What are the rules?