Failed UPI get Penalty #finance #upi #anushkarathodfinance

If your UPI/Mobile Wallet gets debited but the merchant has not received the payment due to some error, then the amount should be auto reversed to you within a specific time frame. The time frames are:

1) UPI to Merchant: If you pay via UPI and the confirmation is not received by the merchant’s system, then auto reversal should be done within the next 5 working days, or else banks need to pay ₹ 100/- per day post that.

2) Wallet to Merchant: If you pay via digital wallet and the confirmation is not received by the merchant’s location, the auto reversal in Remitter’s Account should be done within the next working day if the issuer and acquirer banks are the same.

3) Wallter to Merchant (If the issuer and acquirer banks are different): then according to the system and network used (UPI, IMPS, CardNetwork), the TAT will be determined. Any delay beyond that will lead to ₹ 100/- per day of delay compensation.

Now, here if the mistake is of your bank, you will receive compensation. However, If your account is debited and the beneficiary has not received the money in the stipulated time, the penalty will be paid to them and not us.

Source: Circular Harmonization of Turn Around Time (TAT) and customer compensation for failed transactions using authorized Payment Systems - Circular DPSS.CO.PD No.629/02.01.014/2019-20

Disclaimer: I am not a licensed financial advisor, registered investment advisor, or registered broker-dealer. This video should be used as an educational tool only and are not a replacement for professional investment advice.

[ojack]

Thank you mam is din ka intezar kar kar raha tha

[umaira.rrangrez]

2 years back i had face this. Till now i don't have received it back.

[KISHANKUMAR-ukbk]

hello mam Mera Kotak Mein account hai Maine Paytm se 13 March 2024 ko 500 ka transaction kiya tha Mere account se debit ho gaya tha Samne wale ka SBI ka account tha unke khate Mein Paisa Aaya Nahin Abhi Tak Aaj 22 tarikh ho chuka hai tum mujhe kya karna hoga kya mujhe bhi Pratidin 100 rupaye Milenge

[gauravdubey]

bhai mere sath bhi yahi hua and trust me mene 30-40 mail trail cahlaye, sabko CC me rakha but koi response nhi hai. both banks do blame shifting. or rahi baat complaint ki. me RBI ombudsman tak complaint kar chuka hu it's so complicated ghanta kuch nhi hota. RBI ka mail Id hi unavailable hai.
so basically bhulo pese ko . In sarkari bank wale ke bacche khaenge bas . or rahi baat rules ki, bro rules follow karwane me itna time waste hoga jitne me tum usse jyada pesa kama loge.

[vrushabhpandurkar]

Please make video on 'IX GLOBAL' and on their 'AUTOMATION' services

[BeeWhyy]

How to claim.. wrote multiple mails and talked to customer care of SBI. Still did not got the money returned.

[_shetty]

What is the procedure mam ...can we ask the bank directly for the penalty of 100 rs per day or there is any other way ....plz let me know ....plz give us the information .. #financequeen . #anushkarathod🙏🙏🙏

[HarshSharma-nppk]

Are claim kaise krein ye btao didi ye information to pehle se pata h

[Jeoffery]

What about debit card/ATM card failed transactions?

[kartiksharmaa]

To kya mein ye 10 saal baad clain kr sakta hu per day 100 rupees lga ke

[nehakausarshaik]

Madam, I am tried to with draw Rs 10, 000 on 19.8.2022 by ATM of Axis bank, but message is coming, but monkey is not dispensed till date no auto reversed my money, please what can i do in this matter, also submitted my complainf at same bank branch, no vain, please tell solution and how much compensation I get

[Gomraj]

Mera bank he ICICI Bank . Main ne friend ko 700₹ imobile pay se UPI payment kia tha, payment failed hogea. Friend ko v money Nehi Mila or muje v refund Nehi Mila. (9.1.2023)tarikh ko payment kia tha. Customer care se bat kor Raha hu muje w8 kor ne ko bolraha he 🥴
Abhi muje mera 700₹ to milaga or baki 100₹ penalty jo hota he yo muje milaga ki neki 😁

[ashwindhapade]

Mere HDFC bank se paise debit hue NEFT transaction se but wo paise mere SBI me credit nahi hue hai.. Kya kare plz suggest

[kanhaiyakumar]

Proper information toh dijiye jisme yeh to pta ho ki kisse penalty Leni hai receiver bank se yaa sender bank se T+1 ka pura detail dijiye yeh 24 ghante hoga ya 48 or isme Saturday Sunday include hoga nhi or kaise penalty claim karenge process btaiye mam we all know this normal thing we can claim but what is the process no one's know about that

[siddharthtripathi]

Fews days back i made a upi payment on flipkart for an order that i placed, the amount got debited from my account but the order was not confirmed, after talking to the customer service they said that their might be a technical glitch from bank's side, still not got the reversal from bank

[srking]

I sent money to my friend and it was debited from my account but it didn't go to my friend's account.

Help me Mam😢😢😢😢

[cyrondacosta]

My card transaction in POS machine failed at a petrol pump station and the amount got debited. It's been 4 days now the amount is not credited in my bank account. Should I wait for few more days to claim the penalty amount from the bank?

[vijayendrakumar]

@anushkara How do I claim this? Plz help

[samirshah]

Where to complaint I got refund after 15, days in UPI

[akshayrathore]

Amount 10 ka hi ho to bhi 100 per day milenge kya