Money deducted due to transaction failure from Paytm, GPay, PhonePe, BHIM UPI? Know how to get it back

While using UPI apps like Google Pay (GPay), PhonePe, Paytm, BHIM, has it ever happened that you make a payment and the transaction fails. Also, money is also deducted from the bank account? At the same time, sometimes it happens that the transaction gets stuck in the middle and you make the payment twice, after some time both the transactions become successful. In such a situation, how will you get your money back? Come, let us know…

Keep this in mind while making UPI payment

Many times, payment processing is not possible due to excessive load on the app or bank’s server. In such a situation, you should wait for a while before making the payment. The server problem gets resolved after some time, after which you can complete the payment. However, even if the money is deducted during this period, one should wait for at least 24 hours. The money of the failed transaction is automatically returned to the bank account between 24 hours to 72 hours.

However, sometimes it happens that the money is not returned. In such a situation, you should contact the customer care of the UPI aggregator i.e. app. After registering the complaint, they will analyze your transaction and send it back to your bank account. However, for this you need to exercise patience. If you do not get any help from the app, then contact the bank or NPCI.

What does NPCI do?

NPCI is an organization working under the Reserve Bank of India, which keeps complete accounts of digital payments. UPI apps act as an aggregator, but every transaction is managed by NPCI itself. The signal is given to the bank by NPCI, then the transaction is completed. This all happens in fractions of seconds. You can call NPCI a link between banks and UPI apps.

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