You Can Try Again in About 24 Hours.
Near of the fourth dimension, the UPI payments are successful instantly and the money is added immediately to the receiver's banking concern account. However, in some cases, the users confront failed UPI transactions while sending money from one bank account to another. This can be due to multiple reasons like the users may have entered incorrect receiver'due south details or UPI Pivot, he/she may accept exceeded the daily limit, have bereft balance, etc.
Read farther to know in item what to exercise in instance the UPI payment fails repeatedly. Below, we have explained some of the possible reasons behind the same-
The Daily UPI Payment Limit is Exceeded
A user can do a limited number of UPI payments in 24 hours. Almost of the banks put a limit of 10 daily UPI payments. If the user exceeds the daily limit and then it is advised to retry later on 24 hours or tin can endeavour making payment using a different bank business relationship.
Bereft Balance in the Bank Business relationship
In this scenario, the user may be trying to pay/ship an amount that is more than than the available balance in the bank account. It is advised to check the account rest by borer on the UPI money transfer icon on the app homepage.
Wrong Pivot
In case the user has forgotten the UPI Pin, he/she tin reset the UPI PIN by tapping on the UPI profile on the app homepage and choosing the option of 'Forgot UPI PIN'.
Incorrect Receiver Details
It is strictly advised to check the bank business relationship number and IFSC code of the receiver'due south bank while sending the money. The user tin also face up a failed transaction if he/she fills in the incorrect IFSC code or account number while sending the money.
Benefits of Using Paytm UPI Transaction
Permit'due south take a look at the benefits of using Paytm UPI Transactions:
24X7 Service
Since UPI transactions are done using mobile apps, they can be washed at whatever time or from anywhere. There is no fixed timing when yous can behave out transactions.
Cash-complimentary Transactions
Dissimilar RTGS, IMPS and NEFT, which charge a fee for transferring funds from one account to another, UPI enables cash-free transactions every time one uses it.
Simple and Fast
UPI transactions are simple and easy to utilize as it does not require complex business relationship details such as account number, IFSC code, branch proper name, account holder'southward name, etc. A user just needs to enter the UPI ID or PIN to consummate the UPI transactions.
Condom and Secure
The Reserve Bank of India (RBI) and National Payments Corporation of India (NPCI) regulate UPI transactions. Thus, it is absolutely rubber and secure. The payments can be initiated only by using the registered mobile number with the depository financial institution in which the user holds his/her account. The transactions can exist completed only subsequently confirming the UPI Pin.
UPI Transaction Limits
The UPI transaction limit is the maximum amount that the user is allowed to transfer from his/her bank account to another. The maximum UPI transaction limit is Rs. ane lakh.
Wrapping it Up!
Paytm UPI is ane of the most user-friendly and safety modes of fund transfer. Withal, in case the user faces whatever difficulty while transferring the funds or if the UPI is not working then they can check the aforementioned reasons for the successful transactions. Moreover, they can as well telephone call the customer care number Paytm i.e. 0120-4456-456 to get the queries resolved.
FAQs
What are UPI transactions?
By using the UPI, users can transfer funds from his/her bank business relationship to another bank account using mobile payment applications such as Paytm.
Are at that place any charges on UPI transactions on Paytm?
No, there are no charges applicable on UPI transactions on Paytm. The users tin carry out the UPI transaction on Paytm costless of cost.
How much time does it have to complete a UPI transaction?
A UPI transaction tin be completed instantly later on confirming the details.
Source: https://paytm.com/blog/payments/upi/what-to-do-if-upi-transactions-are-getting-failed/
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