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How do I recover money sent to the wrong UPI? Start a chargeback process. Here are 3 steps you should take to reclaim your hard-earned money.
How do I recover money sent to the wrong UPI? Start a chargeback process. Here are the 3 steps you should take to reclaim your hard-earned money
Imagine finding yourself in a situation where you intended to send money to a friend’s account, only to realize that it ended up in the hands of a complete stranger due to a striking similarity in UPI IDs. What steps would you take to reclaim your hard-earned money?
Fear not, as I’m here to guide you through the process.
This incident recently unfolded in my own life. While attempting to transfer funds to a friend via UPI, I inadvertently directed the money to an unfamiliar account.
Determined to retrieve my funds, I delved into extensive research to explore potential solutions. That’s when I stumbled upon the concept of chargeback—a powerful tool that empowers individuals to reclaim erroneously directed payments.
The chargeback process hinges on your bank’s ability to request the recipient bank to reverse the transaction and credit the amount back to the originating account.
It is crucial to initiate this process within a 30-day window, a standard deadline from the date of the erroneous payment. It’s worth noting that the complaint filing deadline may vary depending on the card network, be it Visa, Rupay, or Mastercard.
To kickstart the chargeback process, one must submit a written complaint to their respective bank. This complaint should include vital details such as the reference number or transaction ID of the payment in question.
It’s imperative to clearly outline when (date) and to whom (UPI ID of the recipient) the payment was made. Upon filing the complaint, the bank will furnish you with a unique complaint number—guard this number with care.
In most cases, the credited amount should be reflected in your account within 15-20 working days.
However, should this not transpire, don’t hesitate to reach out to your bank and with the help of the complaint number, you can inquire about the status of your case.
Should the bank fail to provide satisfactory answers regarding your complaint, take matters into your own hands. Visit the National Payments Corporation of India (NPCI) website, where you can file a formal complaint.
The NPCI, an organization established under the provisions of the Payment and Settlement Systems Act, of 2007, oversees retail payments and settlement systems in India.
If your grievance remains unresolved after 30 days, customers have the option to approach the Banking Ombudsman (B.O.) for further assistance. You can find the relevant details on your bank’s website.
In navigating this challenging process, I’ve come to appreciate the importance of persistence and empowerment.
It’s crucial for women to be informed and proactive when faced with financial challenges. Remember, your money is your hard-earned asset, and you have every right to fight for its rightful return. Stay strong, stay informed, and let no obstacle deter you from reclaiming what is rightfully yours.
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I am Ekta Sati, born & brought up in a very peaceful and beautiful city, Rishikesh. I am an admirer of nature and loves to spend my time on the riverside and in the forests. read more...
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UP Boards Topper Prachi Nigam was trolled on social media for her facial hair; our obsession with appearance is harsh on young minds.
Prachi Nigam’s photo has been doing the rounds on social media for the right reasons. Well, scratch that- I wish the above statement were true. This 15-year-old girl should ideally be revelling in her spectacular achievement of scoring a whopping 98.05% and topping her tenth-grade boards. But oddly enough, along with her marks, it’s something else that garners more attention – her facial hair.
While the trolls are driving themselves giddy by mocking this girl who hasn’t even completed her school yet, the ones who are taking her side are going one step ahead – they are sharing her photoshopped pictures, sans the facial hair, looking nothing less than a celebrity with captions saying – “Prachi Nigam, ten years later”.
Doctors have already diagnosed her with PCOD in their comments, based on photographic evidence. While we have names for people shamed for their weight – body shaming, for their skin colour- racism, for their age- age shaming, for being a female- sexism, this category of shaming where one faces criticism for their appearance has no name. With that, it also has zero shame attached to it.
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