Many people accidentally send money to the wrong bank account while using their mobile numbers linked to the Unified Payment Interface (UPI). This happens because your phone number is connected to your UPI ID linked to your bank account.
Imagine a scenario where you regularly send money to your landlord’s mobile number, linked to his UPI ID. If, for some reason, the landlord’s number is given to someone else without informing you, and you unknowingly transfer money to the old mobile number, it can cause a problem.
How to Retrieve Money Sent to the Wrong UPI Linked Number
Legal experts suggest that to get back money transferred unintentionally, you need to prove that it was done by mistake. Once proven, it becomes the responsibility of the bank to reverse the transaction. According to Abhay Chattopadhyay from Economic Laws Practice, Regulation 8 of the Reserve Bank of India’s Ombudsman Scheme for Digital Transactions allows you to file a complaint if the bank fails to reverse the transaction.
Quick Action Increases Your Chances of Recovery
Acting promptly is crucial to increase the chances of getting your money back. Shreejith Menon from Fincare Small Finance Bank emphasizes the importance of reporting the issue quickly. Contact your bank immediately, provide transaction details, and attempt to communicate with the unintended recipient. Timely reporting, close collaboration, and cooperation increase the likelihood of a successful resolution.
Manmeet Kaur from Karanjawala & Co agrees that quick action is vital, and she adds that the responsibility lies with the previous mobile number’s subscriber to maintain their privacy.
Using NPCI’s Help to Retrieve Wrongly Transferred Money
If the wrong transaction was done using UPI, you can use NPCI’s dispute redressal mechanism to file a complaint. Follow these steps:
- Go to https://www.npci.org.in/what-we-do/upi/dispute-redressal-mechanism.
- Navigate to the ‘complaint’ box, select the nature of the transaction, and choose the issue (e.g., ‘Person to Person’ and ‘Incorrectly transferred’).
NPCI outlines the levels of complaint escalation on their website. If the issue remains unresolved, escalate it through the UPI app, the bank handling the transaction, and NPCI using the grievance portal. If unsatisfied, approach the banking ombudsman.
Will Someone Access Your Bank Account with Your Mobile Number?
Reassigning a mobile number doesn’t grant automatic access to a customer’s bank account. Banks use secure authentication processes like passwords, PINs, security questions, and two-factor authentication to protect accounts. Even if the mobile number is deactivated and reassigned, only authorized individuals can access and manage the account.
When Will Your Mobile Number Be Allotted to Someone Else?
According to TRAI’s Telecom Consumer Protection Regulations, a telecom subscriber’s connection cannot be deactivated for non-usage until at least 90 days have passed. If a prepaid mobile number has a minimum balance of Rs 20, an extension of up to 30 days is provided before deactivation. After at least 15 days from deactivation, a deactivated mobile connection can be allocated to another subscriber, and the affected subscriber can revive their number during this period by recharging with Rs 20.
