How to Use UPI Wisely: A Guide for Beginners

UPI has completely changed how we make payments in India. It's quick, easy and simple. Whether paying bills, shopping online or something as small as buying a pack of chips, UPI has made it all effortless.

For beginners, this shift feels like second nature. Splitting a coffee bill? Just scan. Taking an auto? Tap and done. It's become a part of everyday life. With convenience, it's also important to know how to use it smartly and make it work in your favour. In this guide, we'll explore simple yet effective tips to make the most of UPI while staying safe and managing your money wisely.

Verify UPI ID before making a transaction

Before you hit 'send', always double-check the UPI ID of the person you're transferring money to. A tiny typo can send your money to the wrong person and getting it back can be a real hassle. Most apps show the recipient's name after you enter the UPI ID-take a second to confirm it matches who you're sending money to. It's a small step, but it can save you a lot of trouble.

Avoid using too many UPI apps

It's tempting to try every new UPI app out there, but sticking to one is a lot better. Managing multiple apps can get unmanageable-you might forget which app you used for a specific payment or lose track of your spending. If possible, use your mobile banking app. It's secure, well-integrated with your bank and keeps everything in one place. One app means less confusion and better control over your transactions.

Track UPI payments

Keeping an eye on your payments is super important, and your UPI app makes it easy. Open the app, go to the Passbook or History section and pick the bank account linked to your transaction. This will show you all your recent payments in one place. Regularly checking your payment history can help you stay on top of your spending and quickly spot anything unusual, like unauthorised transactions or unexpected charges.

Check UPI transaction status

Sometimes payments get stuck or fail, and it's important to know what's happening. To check the status of a payment, open your UPI app and go to the transaction history or recent payments section. Each transaction will show a status like "Success", "Pending" or "Failed". If it's pending, you might need to wait, but if it's failed, you can try again or contact your bank for help. Knowing the status keeps you informed and in control.

Request a refund

Accidentally sent money to the wrong UPI ID? Don't worry, there are steps you can take. First, reach out to the person who received the money and request them to send it back. Most people are cooperative if it's an honest mistake. If that doesn't work, contact your bank's customer support. Share the transaction ID and other details, and they'll guide you on how to recover your funds. It's a process, but it's worth it to get your money back.

Make UPI payments swiftly with mobile banking app

Making UPI payments doesn't have to be complicated, especially when you have mobile banking app. With user-friendly interface and seamless integration, you can send money, pay bills and check your transaction history all in one place. Whether it's settling bills or paying for essentials, the app makes it quick, secure and stress-free. Plus, with added features to track and manage your expenses, it's perfect for staying in control of your finances. Don't wait! Download your bank's mobile app now from the App Store or Google Play and enjoy the benefits and features of your savings account today.

This Article is for information purpose only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. The Bank makes no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Article. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from the Bank. The Bank, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein.