How to Reverse a UPI Transaction?
How to Reverse a UPI Transaction?
Reversing a UPI (Unified Payments Interface) transaction on your payment app might be difficult because UPI transactions are usually instant and irreversible. However, under the following circumstances, you may be eligible to seek a reversal or refund:
To reverse a UPI transaction on your payment app, follow these steps:
Contact the receiver right away: If you made a UPI payment to the wrong individual, the first thing you should do is contact them right away and request a refund. If the recipient is agreeable, they can simply reverse the transaction.
Contact your bank or UPI app provider:
If the recipient is unable or unwilling to reimburse the money, you can seek assistance from your bank or UPI app provider. You must supply them with the transaction reference number (UTR), date, and transaction amount. They will subsequently begin the UPI Auto-Reversal procedure on your behalf.
Contact your bank or UPI app provider:
The UPI Auto-Reversal procedure might take many days. During this period, it is critical to check in with your bank or UPI app provider to see how your reversal is doing.
Please keep in mind that UPI transactions may only be reversed if they are still pending or unsuccessful. A transaction that has been completed cannot be reversed.
Here are some more pointers:
- Enter the recipient's UPI ID or cellphone number with caution. Before making the payment, double-check the information.
- If you have any doubts about a seller, double-check their information before making a payment.
- Keep track of your UPI transactions and promptly report any unauthorized transactions to your bank or UPI app provider.
