Deactivating UPI funds turns into one of many vital duties in the event you’ve misplaced your cell phone. Unified Funds Interface (UPI) has turn out to be a outstanding cost system in India, with UPI transactions crossing over 2,800 million in June. Ranging from invoice funds to transferring cash from one checking account to a different, UPI can be utilized for many duties that require real-time switch of funds. All main business banks within the nation assist UPI as part of the collective aim to rework India right into a digital economic system.
However with the expansion of UPI as a system for enabling digital funds, it has additionally turn out to be vital for customers to know what they need to do to avoid wasting their hard-earned cash.
On this article, we’re detailing the steps you need to take to deactivate UPI funds out of your linked financial institution accounts in case you lose your cell phone.
Learn how to deactivate UPI funds in case you lose your cell phone
Earlier than starting with the steps on how one can deactivate UPI transactions in case you lose your cell phone, it is very important word that you shouldn’t share your UPI PIN or every other delicate particulars with anybody throughout the course of.
Block your telephone quantity by calling the shopper care service of your community service. This may limit thieves from initiating transactions utilizing your SIM card or misplaced cell phone. You could be requested to supply your private particulars equivalent to your full title, billing handle, and the final recharge or invoice quantity paid for verification earlier than continuing together with your request.
Name your financial institution helpline to get your telephone quantity blocked out of your account and ask to disable UPI service.
File a primary data report (FIR) about dropping your cell phone. This may be simply finished on-line for residents of most states in India.
An FAQ web page on the Nationwide Funds Company of India (NPCI) web site talks about blocking a cellular quantity in case a person has misplaced their cell phone. Nevertheless, there’s no workaround accessible on the positioning to let customers get their UPI entry blocked.
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