Deactivating UPI funds turns into one of many essential duties in case you’ve misplaced your cell phone. Unified Funds Interface (UPI) has grow to be a distinguished fee 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 industrial banks within the nation help UPI as part of the collective purpose to remodel India right into a digital financial system.
However with the expansion of UPI as a system for enabling digital funds, it has additionally grow to be essential 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.
Find out 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 observe that you shouldn’t share your UPI PIN or another delicate particulars with anybody in the course of the course of.
Block your cellphone 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. Chances are you’ll be requested to offer your private particulars similar 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 cellphone quantity blocked out of your account and ask to disable UPI service.
File a primary data report (FIR) about shedding your cell phone. This may be simply accomplished 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 cell quantity in case a consumer has misplaced their cell phone. Nonetheless, there’s no workaround out there on the location to let customers get their UPI entry blocked.
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