- If the fund transfer using UPI has failed, and if the funds are debited from the bank account, the bank will reverse the funds. Please check with the bank for further clarification.
- Banks may usually take 72 hours to refund such amounts.
- The multiple reasons of failing of fund transferred using UPI can be as follows: -
- Direct transfer without using comet: -Funds were transferred directly to Jainam’s VPA or UPI ID from the UPI app instead of using the Add Funds option on Comet.
- Unmapped bank a/c:-The UPI ID (VPA) is mapped to a bank account that is not registered with Jainam. Transactions from an unmapped UPI ID will fail automatically and get reversed within 72 working hours. If the funds are not reversed, contact the bank.
- Delay in accepting UPI request : -The UPI request sent to the app was not accepted within 5 minutes.
- Beyond maximum limit: -More than 35 UPI transactions were attempted in a day.
- Beyond bank’s maximum limit per day: -The daily UPI transfer limit set by the bank was exhausted. UPI transfers have a limit of ₹1 to ₹2 lakh per day. Banks may have further restrictions on the amount per transaction.
- Incorrect input: -The UPI ID (VPA) was entered incorrectly.
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