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UPI Transaction Reversal Rules: Sending money to the wrong account using UPI is no longer a major problem. If you've made such a mistake, don't panic. By taking the right steps and consulting the government helpline, you can safely recover your lost money within just 3 hours. Learn the simple process.

UPI Transaction Reversal Rules: Nowadays, we make payments through smartphones in the blink of an eye, but this speed can sometimes prove costly. Sending money to the wrong UPI ID or mobile number due to haste or carelessness has become a common problem. It's natural to panic when your hard-earned money goes to an unknown account, as there's no direct button in the app to cancel a UPI transaction. However, as per banking rules, if you take the right steps in time, there's a good chance your money will be safely returned.

Punctuality and prompt complaint filing are essential.

In the event of a wrongful payment, response time is crucial. According to experts and banking guidelines, the first three hours after a transaction are crucial. As soon as you realize your mistake, notify your bank and the relevant payment app (such as Google Pay or PhonePe) without delay. The sooner you officially file your complaint, the easier it is for the bank to track the payment and initiate the reversal process. Delays can lead to technical and legal hurdles.

Provision to Freeze the Receiver's Bank Account

If the other party is reluctant to return your money or is not answering your phone, you can take strict action. You can call the Government of India's National Cyber Crime Helpline 1930 and provide complete details of the case. Based on your complaint, the relevant authorities may order the freezing of the receiver's bank account. Once the account is frozen, the person will be unable to use or transfer the funds elsewhere. Alternatively, you can directly contact the nodal officer of the receiver's bank and submit your complaint in writing.

Resolution Process Through the NPCI Portal

When the issue is not resolved at the bank or app level, the country's apex payments body, NPCI (National Payments Corporation of India), can assist you. You can register your complaint on the Grievance Portal by visiting the official NPCI website. You will need to provide proof of your transaction ID and bank statement. Once the complaint is filed, you will be given a reference number, which will allow you to check your recovery status online. To avoid such setbacks in the future, always use a QR code and confirm by sending ₹1 before making large payments.