Know your rights as a UPI user

The Reserve Bank of India (RBI) has a fixed set of rules which serve the users of all eWallet companies. These rules enable UPI users to get protection from UPI frauds and mobile wallet issues.

Click here to understand where to file a UPI fraud complaint. 

[sc_fs_multi_faq headline-0=”p” question-0=”Where to file a UPI fraud complaint? ” answer-0=”As per the rules, a registered e-wallet user should get a refund from the e-wallet company in case of fraud. The user must complete the Know Your Customer (KYC) verification formalities before exercising these rights” image-0=”” headline-1=”p” question-1=”Rights of a UPI user according to RBI” answer-1=”Mobile wallet companies, like Paytm, PhonePe, AmazonPay, GooglePay, etc must display contact details like phone number, email ID, office address, escalation method etc. The e-wallet app or the website should display such information. This will enable a user to report suspicious activity without delay.” image-1=”” count=”2″ html=”false” css_class=””]Apps like PhonePe, GooglePay, Paytm, AmazonPay enable customers to conduct seamless transactions in a tap. The ease of transferring money has also put many users at the risk of being cheated by UPI fraudsters. People end up losing thousands within seconds due to tricks adopted by fraudsters.

As per the rules, a registered e-wallet user should get a refund from the e-wallet company in case of fraud. The user must complete the Know Your Customer (KYC) verification formalities before exercising these rights.

Rights of a UPI user according to RBI

• Mobile wallet companies, like Paytm, PhonePe, AmazonPay, GooglePay, etc must display contact details like phone number, email ID, office address, escalation method etc. The e-wallet app or the website should display such information. This will enable a user to report suspicious activity without delay.
• Mobile wallet companies should ensure that users register working phone numbers and email IDs to receive immediate alerts. As a customer, you should keep your contact details updated so you don’t miss out on an important notification.
• Every mobile wallet company should have 24 hours customer care helpline. It is mandatory so that a user can report an unauthorised transaction without any delay, regardless of time. Previously, this was a loophole through which fraudsters benefitted by scamming people in the wee hours.
• If the mobile wallet company is at fault for a loss, it should refund the amount to the user. If the e-wallet company commits a negligent act, deficiency, or fraud which causes loss to the user, then it must reimburse the user. The user must report the wrong transaction within 3 days to receive the refund of the entire amount of the wrong transaction. The company should initiate the refund even if the user has not complained.
• A mobile wallet can compensate up to Rs 10,000 if the report of a wrong transaction is made within 4 to 7 days. If the amount of the wrong transaction was lower, then the company will refund that particular amount. For issues reported after 7 days, the refund amount will depend on the company’s refund policy.
• The mobile wallet company must solve a UPI complaint within 10 days of receiving the report of the fraud. Other complaints must be resolved within 90 days irrespective of who is at fault. The user will get the full amount of the wrong transaction if a complaint is not solved within 90 days.

Do you have a UPI complaint with a mobile wallet company? You can start your case below for free-