Digital payment systems like Unified Payments Interface (UPI) have revolutionized the way transactions are done.
They have eliminated the need to use cash in most cases by allowing one to scan a QR code and transfer the desired amount directly to a bank account.
From roadside vendors to retail chains, UPI is now ubiquitous in India because of the ease of transactions it provides.
While UPI is a secure payment system, inadvertent errors on your part can sometimes lead to financial losses.
Entering wrong UPI ID and sending money to someone else’s bank account by mistake is one of the scenarios you might have come across.
Most of us panic in such situations but according to the Reserve Bank of India, you can recover the transferred amount by taking the right steps.
RBI says that in case of unintentional transactions through digital services, the aggrieved person should file a complaint with the previously used payment system.
You can take help from the customer care of apps like Paytm, Google Pay and PhonePe and request a refund.
If the payment system fails to resolve your issue, you may contact RBI Ombudsman for digital transactions,
According to RBI, he is a “senior official appointed to redress customer complaints against system participants defined in the Scheme for deficiency in certain services covered on the basis of a complaint specified under section 8 of the Scheme.”
Complaint can be lodged when the payment system does not comply with the directions of RBI relating to payment transactions through UPI, Bharat QR Code and others, such as failure to credit the beneficiaries account or amount within a reasonable time failure to return. Time.
A complaint can also be made to the Ombudsman in case of wrongful transfer of funds to the beneficiary’s account.
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