If money is deducted from the account but the transaction is not completed - GyanMahiti.in -->

 If money is deducted from the account but the transaction is not completed


Under Digital India, the UPI payment system has evolved rapidly across the country in the last few years. Nowadays, most smartphone users resort to UPI for payment in a matter of seconds. Data from the National Payments Corporation of India (NPCI) shows that a total of Rs 4,90,638.65 crore was transacted on the UPI platform in May. By May 2021, 224 banks are facilitating payments through this platform. About 2,539.57 million transactions were made on the UPI platform last month.

Frequent payment failures due to network

Among such large scale payments, there are cases when money is deducted from the account while doing UPI but the payment is not completed. Sometimes payment failures are often due to technical glitches or network failures. In such a situation, people have to suffer. NPCI, the organization that manages UPI's payments, informs the public about this from time to time and informs them about new updates.

There were some errors regarding the payment of UPI

In April alone, there were some errors in UPI payments. However, NPCI issued a clarification in this regard and said that the problem was due to the change in the financial year. In such a situation, as a customer, you should know what to do if your UPI payment fails? Who you should complain to and when the money will be returned to your account. Today we are giving you important information regarding this.

What if the money is deducted from the account but the transaction is not completed?

In UPI system it is reversed in the account immediately after the payment is rejected. Within minutes, the money is credited to the payer's account. Sometimes it takes a while. If the money does not reach the account within an hour, you can contact your bank about this. If there is no response from them within a month, then you can lodge a complaint under the RBI's 2019 Digital Transactions Ombudsman Scheme.

Where to complain about UPI transactions?

You also have the option to lodge your transaction related complaints through the UPI application. After complaining about this application, you can also check what its status is. The transaction is being shown as 'pending' and the amount is not refunded later. Is this a problem? If you also see 'pending' after making a payment, it means that your payment has been successful. But the transaction seems to be pending due to a bit of a problem at the beneficiary bank level. They will receive this payment within 48 hours. It is completed automatically after daily settlement from the bank.

What information does the UPI platform receive about your account?

The UPI payment system is designed by NPCI and is regulated under RBI rules. Any information on the UPI platform is available based on your mobile number. This information is masked. 

ગુજરાતીમાં વાંચવા માટે અહિ ક્લિક કરો

This means that UPI cannot collect all the information about the account. This exchange of information between the bank and the UPI platform takes place through a secure banking network. NPCI does not have this data stored nor can it be used.

If money is deducted from the account but the transaction is not completed

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 If money is deducted from the account but the transaction is not completed


Under Digital India, the UPI payment system has evolved rapidly across the country in the last few years. Nowadays, most smartphone users resort to UPI for payment in a matter of seconds. Data from the National Payments Corporation of India (NPCI) shows that a total of Rs 4,90,638.65 crore was transacted on the UPI platform in May. By May 2021, 224 banks are facilitating payments through this platform. About 2,539.57 million transactions were made on the UPI platform last month.

Frequent payment failures due to network

Among such large scale payments, there are cases when money is deducted from the account while doing UPI but the payment is not completed. Sometimes payment failures are often due to technical glitches or network failures. In such a situation, people have to suffer. NPCI, the organization that manages UPI's payments, informs the public about this from time to time and informs them about new updates.

There were some errors regarding the payment of UPI

In April alone, there were some errors in UPI payments. However, NPCI issued a clarification in this regard and said that the problem was due to the change in the financial year. In such a situation, as a customer, you should know what to do if your UPI payment fails? Who you should complain to and when the money will be returned to your account. Today we are giving you important information regarding this.

What if the money is deducted from the account but the transaction is not completed?

In UPI system it is reversed in the account immediately after the payment is rejected. Within minutes, the money is credited to the payer's account. Sometimes it takes a while. If the money does not reach the account within an hour, you can contact your bank about this. If there is no response from them within a month, then you can lodge a complaint under the RBI's 2019 Digital Transactions Ombudsman Scheme.

Where to complain about UPI transactions?

You also have the option to lodge your transaction related complaints through the UPI application. After complaining about this application, you can also check what its status is. The transaction is being shown as 'pending' and the amount is not refunded later. Is this a problem? If you also see 'pending' after making a payment, it means that your payment has been successful. But the transaction seems to be pending due to a bit of a problem at the beneficiary bank level. They will receive this payment within 48 hours. It is completed automatically after daily settlement from the bank.

What information does the UPI platform receive about your account?

The UPI payment system is designed by NPCI and is regulated under RBI rules. Any information on the UPI platform is available based on your mobile number. This information is masked. 

ગુજરાતીમાં વાંચવા માટે અહિ ક્લિક કરો

This means that UPI cannot collect all the information about the account. This exchange of information between the bank and the UPI platform takes place through a secure banking network. NPCI does not have this data stored nor can it be used.

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