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Sent Money to Wrong UPI ID, What to do to recover money?


One of my friends called me in a tensed voice that he has transferred 15000 rupees to a wrong UPI Id(phone number) by mistake. He anxiously wanted to know what he can do to recover his money as the owner of the phone number is not responding despite repeated calls to him. I am listing below the steps he can take to recover the money after which he seemed to relax a bit.

The Unified Payments Interface (UPI) is a digital and real-time payment system developed by the National Payments Corporation of India (NPCI) and regulated by the Reserve Bank of India (RBI). UPI in simple words is a real-time payment system in India that enables seamless money transfers from one bank account to another instantly and free of charge through a mobile device. UPI streamlines the process of transferring funds between individuals and businesses, enabling individuals to make online purchases, pay utility bills, and shop at brick-and-mortar stores through QR codes, VPAs, or UPI registered mobile numbers. UPI can be used to send and receive money.

Total transactions processed by UPI in 2023 stood at 182 lakh crore rupees. Sending money through Unified Payment Interface(UPI) is convenient, easy to use, eliminates the need to carry cash, change related problems and hassles associated with cheques but mistakes can happen, resulting in funds being transferred to the wrong recipient.

Reasons resulting in funds being transferred to the wrong recipient :-

Precautions one needs to take before doing UPI transfer :-

Steps to take after sending money to wrong UPI Id :-

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