UPI has made payments instant, but sometimes a payment fails while the money is still debited from your bank account. The Reserve Bank of India (RBI) has clear rules for such cases. Here is what to do after a UPI failed transaction.
The RBI rule on refunds
In a circular issued in September 2019 on harmonisation of turn around time (TAT), the RBI fixed timelines for failed digital transactions. For a UPI person to person payment where your account is debited but the beneficiary is not credited, the money must be reversed automatically by T+1 day, meaning by the next working day after the transaction. If the bank misses this deadline, it has to pay compensation of Rs 100 per day of delay to the customer, without the customer having to ask for it.
For payments to merchants, similar timelines apply, and the circular lists the TAT for each type of failure.
Step 1: Wait for auto reversal
Most failed UPI payments are reversed within a few hours or by the next working day. Check your bank statement and the transaction status in your UPI app before taking any further step. Keep the UPI transaction ID (UTR number) handy.
Step 2: Raise a complaint in your UPI app
All major UPI apps such as BHIM, PhonePe, Google Pay and Paytm have a help or dispute section against each transaction. Select the failed transaction and raise a complaint. This is the first level of the NPCI dispute redressal mechanism.
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Step 3: Contact your bank
If the issue is not solved, contact the bank whose account was debited. You can use its customer care number, branch or online grievance portal. Mention the UTR number, date, amount and the response you received from the app.
Step 4: NPCI portal
The National Payments Corporation of India (NPCI) has a complaint section on its website under the UPI dispute redressal mechanism. You can file a complaint there if the app and the bank do not solve the problem.
Step 5: RBI Ombudsman
If your complaint is not resolved within 30 days, or you are not happy with the reply, you can file a complaint under the RBI Integrated Ombudsman Scheme, 2021 on cms.rbi.org.in. The service is free.
Safety tips
- You never need to enter your UPI PIN to receive money. A request asking for your PIN to “get a refund” is a fraud.
- Do not search for customer care numbers on random websites. Use the number given in the app or on the bank’s official website.
- Never share OTPs or screen sharing access with anyone.
Bottom line
For a UPI failed transaction, the rule is on your side: auto reversal by the next working day, and Rs 100 per day if the bank is late. Raise the complaint in a step by step manner and keep records of every reply.
Source / स्रोत: RBI circular on turn around time for failed transactions, NPCI UPI dispute redressal, RBI Complaint Management System
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