UPI: If you transfer money to wrong account, how to get it back here
If you've transferred money to the wrong account using UPI (Unified Payments Interface), here are the steps you can follow to try to get it back:
Act Quickly: Time is crucial. Try to initiate the process as soon as you realize the mistake.
Contact Your Bank: Immediately get in touch with your bank or payment service provider. Call their customer service or visit your nearest branch.
Gather Details: Prepare all relevant transaction details:
1)UPI Transaction ID
2)Date and time of the transaction
Beneficiary's UPI ID or bank account details
Amount transferred
Your own bank account details
Raise a Complaint: Explain the situation and file a formal complaint with your bank. They will guide you on the next steps.
Beneficiary Bank Notification: Your bank will contact the beneficiary bank to request a reversal of the transaction. Provide any additional information requested by your bank promptly.
Beneficiary's Consent: If the beneficiary agrees to refund the money, the process can be quicker. If they refuse, it may be more challenging.
Contact the Beneficiary: If possible, try to contact the recipient directly and request a refund. Explain the mistake and ask for their cooperation.
Police Complaint: In cases of fraudulent transactions or refusal by the beneficiary, you may need to file a complaint with your local police and obtain a copy of the FIR (First Information Report).
RBI Complaint: If the issue persists, you can file a complaint with the Reserve Bank of India (RBI) through their dedicated portal for electronic transactions.
Legal Action: If all else fails, you may have to explore legal options, such as approaching a consumer court or seeking legal counsel.
Remember that the success of getting your money back depends on various factors, including the cooperation of the recipient and the timely actions you take. It's crucial to act swiftly and follow the guidance provided by your bank throughout the process.
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