Deactivating UPI funds turns into one of many necessary duties if you happen to’ve misplaced your cell phone. Unified Funds Interface (UPI) has turn into a distinguished 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 industrial banks within the nation assist UPI as part of the collective purpose to rework India right into a digital financial system.
However with the expansion of UPI as a system for enabling digital funds, it has additionally turn into necessary for customers to know what they need to do to save lots of their hard-earned cash.
On this article, we’re detailing the steps it is best to take to deactivate UPI funds out of your linked financial institution accounts in case you lose your cell phone.
Tips on 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 some other delicate particulars with anybody through the course of.
Block your cellphone quantity by calling the shopper care service of your community provider. 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 tackle, and the final recharge or invoice quantity paid for verification earlier than continuing along 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 dropping your cell phone. This may be simply executed on-line for residents of most states in India.
An FAQ 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. Nonetheless, there is no workaround out there on the positioning to let customers get their UPI entry blocked.