SBI UPI Money Transfer: Transaction Failed But Money debited? Know What To Do

New Delhi: SBI UPI Money Transfer: Fund transfers these days can be made in a jiffy, all thanks to UPI payment system. The YONO LITE SBI App allows customers to transfer fund without having to register the beneficiary recieving it. Although if you are sending money using beneficiary’s Virtual ID, then the beneficiary should mandatorily be registered with UPI.

For the SBI YONO UPI, customers have a Daily transaction limit of Rs 1,00,000 set as Per day Limit and as EasyPIN Limits (Individual overall daily limits).

Meanwhile, it may so happen sometime that you have initiated a UPI fund transfer, where your transaction has failed but money has been debited. In such a scenario what are the options that you can explore?

SBI offers real-time reversals for technical difficulties, so if your account is debited but the transaction fails, the money will be returned to your account right away. You can file a complaint directly using the SBI YONO LITE app if the amount is not reversed.

You can file a complaint by choosing the "Payment History" option, choosing a specific transaction, and then choosing "Raise Dispute." The "Dispute Status" element in the SBI Personal App's UPI capabilities allows you to do so as well.

Recently State Bank of India (SBI) announced that it has launched real-time payments system linkage between India and Singapore and vice-versa through SBI's BHIM SBIPay mobile application.

The linkage will allow fund transfers from India to Singapore through registered mobile numbers and from Singapore to India using UPI ID, the bank said in a Statement.

“The UPI-PayNow linkage is a significant milestone towards development of infrastructure for cross-border payments between India and Singapore. The initiative closely aligns with the G20’s priorities of driving faster, cheaper, and more transparent cross-border payments. The inward bilateral remittance between Singapore and India is around USD 949 Mn as of 2021 (as per World Bank Bilateral Remittance Matrix Dec ‘22),” it added.