Deactivating UPI funds turns into one of many essential duties for those who’ve misplaced your cell phone. Unified Payments Interface (UPI) has turn into a distinguished fee system in India, with UPI transactions crossing over 2,800 million in June. Starting from invoice funds to transferring cash from one checking account to one other, UPI can be utilized for many duties that require real-time switch of funds. All main business banks in the nation assist UPI as part of the collective purpose to rework India right into a digital economic system.
But with the expansion of UPI as a system for enabling digital funds, it has additionally turn into essential for customers to perceive what they need to do to save their hard-earned cash.
In this text, we’re detailing the steps you must take to deactivate UPI funds out of your linked financial institution accounts in case you lose your cell phone.
How to deactivate UPI funds in case you lose your cell phone
Before starting with the steps on how one can deactivate UPI transactions in case you lose your cell phone, it will be important to word that you shouldn’t share your UPI PIN or another delicate particulars with anybody through the course of.
Block your cellphone quantity by calling the client care service of your community provider. This will prohibit thieves from initiating transactions utilizing your SIM card or misplaced cell phone. You could also be requested to present your private particulars akin to your full title, billing deal with, and the final recharge or invoice quantity paid for verification earlier than continuing together with your request.
Call 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 could be simply finished on-line for residents of most states in India.
An FAQ page on the National Payments Corporation of India (NPCI) website talks about blocking a cell quantity in case a person has misplaced their cell phone. However, there is no workaround obtainable on the location to let customers get their UPI entry blocked.