Has it ever happened to you that the balance in the bank account showed less and after checking it was found that any old subscription or service is still deducting money? If yes, then you may have ever acted UPI Autopay and have forgotten now.
Nowadays, people use Autopay for services like mobile recharge, electricity bill, OTT platforms (eg Netflix, Amazon Prime or insurance premium. Due to this, there is no hassle to pay again and again. But the problem occurs when you stop using that service and still keep money cut every month.
So let’s know how you can close UPI Autopay in a few seconds and avoid unnecessary expenses.
What is UPI Autopay?
This is a digital facility that gives you the convenience of setting up ‘e-Mandate’ for any service through UPI. Once you turned on Autopay for a service, the payment on the fixed date will automatically cut from your account – without any reminder or manual process.
What are the things used for?
- Mobile Mobile DTH Recharge
- Electricity or water bill
- Insurance premium
- EMI or loan installment
- Mutual fund sip
- Gym fees or online class fees
How to turn off Autopay Mandate?
If you are not using that service now and do not want the money to be deducted, then follow the easy steps given below:
1. Open your UPI app – such as PhonePe, Google Pay, Paytm, etc.
2. Go to Settings or Profile section.
3. Tap on ‘Autopay’ or ‘Mandates’ options.
4. The list of all active services will be seen.
5. Select the service that is to be closed.
6. Click on ‘Cancel’ or ‘Revoke’.
After doing this, money will not be deducted from that service now.
What to do if the money is cut by mistake?
If a payment is cut without your acquaintance and you have not used that service, then first contact the customer support of that company. Some companies offer refund options within 24 to 72 hours of payment.
If you do not get help from the company, then you can also contact your bank and request to block such transactions.
Caution is the rescue
- Think twice before setting Autopay for any new service.
- Keep checking old and not used subscriptions from time to time.
- Do not ignore bank SMS or UPI notifications.
UPI Autopay makes our digital life easier, but it is necessary to use it wisely. Otherwise, money will continue to be deducted every month without need and we will not even know. So today go to your UPI app and check active mandates and close those who do not need immediately.