UPI Payment Failed? Here's How to Get ₹100 Daily from Your Bank
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When UPI Transactions Go Wrong
Digital payments through UPI have simplified our lives, but sometimes transactions fail. You might see the frustrating message: "money deducted but not received." Many users remain unaware of their rights in such situations.
You have legal protection. If banks or payment apps delay refunds beyond the allowed time, you deserve compensation. This hack ensures financial institutions cannot hold your money indefinitely after a failed UPI transaction.
Your Right to Daily Compensation
According to Reserve Bank of India guidelines, banks must refund failed UPI transactions within T+1 day. This means transaction day plus one business day. If the refund doesn't happen within this timeframe, the bank owes you compensation.
The compensation amounts to ₹100 for each day of delay until the refund processes completely. This rule applies specifically to failed transactions where money was debited from your account but never reached the recipient.
Important note: This compensation doesn't cover successful transfers sent to wrong recipients. It only applies to genuine technical failures in the UPI system.
Step-by-Step Guide to Claim Your Money
- Wait for the deadline: After a failed transaction, allow T+1 day for the automatic refund. Don't panic immediately.
- Raise a dispute: If no refund appears after T+1, file a dispute through your UPI app. Use Google Pay, PhonePe, Paytm, or whichever app you used for the transaction.
- Escalate to RBI: Should the app dispute remain unresolved, file a formal complaint on the RBI CMS portal at cms.rbi.org.in.
- Mention the delay: Clearly state how many days the refund has been delayed. Banks must pay ₹100 daily beyond the turnaround time as per regulations.
Following these steps puts pressure on banks to process refunds promptly while securing your rightful compensation for any delays.
Why This Matters for Digital India
As digital payments become ubiquitous, understanding consumer rights grows increasingly important. The RBI implemented these compensation rules to maintain trust in the UPI ecosystem. Banks and payment service providers now face financial penalties for poor performance, encouraging better service.
This protection empowers users to transact confidently, knowing their money has safeguards even when technology falters. It represents progress toward a more accountable digital financial system.
About the Author
The TOI Tech Desk comprises dedicated journalists delivering timely, relevant technology news to Times of India readers. Their coverage spans gadget launches, reviews, trends, analysis, exclusives, and breaking stories impacting the digital world. From how-tos to developments in AI, cybersecurity, personal gadgets, and major platforms, they provide accurate, authentic reporting.
