PhonePe is one of the top wallet applications in India. It is widely used because of its simplicity, convenience, and ease of use. When making transactions on PhonePe, it is possible to make wrong transactions. Human errors or changing your mind are the major causes of making the wrong transactions. If you notice that you made the wrong transaction while it is still pending, there is nothing you can do about it.
Plenty of PhonePe users are forced to follow lots of steps in an attempt to get their money back. Some of them even proceed to court.
If a transaction on your account is displayed as Pending, it is not complete. It is, therefore, not possible to cancel it until it is complete. A transaction should take an average of three to five business days to be complete. There are, however, transactions that may take up to 10 business days. If you wish to dispute a transaction, you must wait until it is complete. You can only issue disputes to PhonePe for complete transactions.
It is impossible for the wallet application to cancel any transaction that was initiated by the account owner. It may end up as a failed or successful status. If your transaction fails, you will get the money sent back to your account. If it is a successful transaction, the beneficiary will receive the money.
The easiest way to get your money back is by negotiating with the beneficiary. E-wallet companies do not have any control over your money after it is debited from your bank. Speak to your beneficiary politely and they may send your money back. If your transaction is failed, you may get your money back in five to seven business days.
Get Help From PhonePe
PhonePe is under no legal obligation to help you get your money back after a wrong transaction. They may, however, help you if you ask. If you are unable to cancel a wrong pending transaction, you should contact the customer support team for help. PhonePe may help you reach the beneficiary and get your money back.
Getting Help From Your Bank
You may ask for help from your bank if you made a wring PhonePe transaction through bank transfer. Talk to the manager of your local branch and explain your problem in detail. Keep an open mind while asking for help from your manager. They are not legally obligated to help you. Your relationship with the manager may determine whether or not they help you. While they cannot freeze the money if it has already been sent, they may help you convince the beneficiary to send it back.
Getting Help From Court
If all other attempts fail, you may need to go to court to get your money back. Most users do not get to this point. If a beneficiary is unwilling to solve the issue diplomatically, the court may require them to provide proof that they were the intended target of the money. When going to court, you must carry all the necessary documents. You should provide proof that you accidentally sent money to them and that you tried to get it back diplomatically. If the beneficiary was not the intended recipient of the money, the court may order them to give it back to you.
If you have trouble getting your money back after a failed transaction, you should contact PhonePe through their customer support team. If you contact them by phone, you will be connected to a live agent who will guide you through the process. You may also contact them by email and wait for a response.