Why do banks delay refunds?

While most UPI payments are instant, sometimes bank do take additional time to complete the deposit process after they receive the money.

This can happen due to technical issues or any delays they're facing in banking processes. In such cases, please be assured that your money is safe with your bank and you will get the money back into your account within 5 days from the date you made the payment

Can I get a refund faster?
Your bank will definitly help you get your refund faster if you talk to them directly with the 12-digit UTR for this payment.

How do I find the UTR?
To find the 12-digit UTR for a payment, tap History on your PhonePe app home screen and select the relevant payment.

Steps to share a copy of your bank statement
We'd like to pass on your issue as feedback to your bank so that they can work on preventing such issues in the future
To do that, we need you to share with us, a screenshot of your latest bank statement. Here are some instructions for you.
- Login to your bank's website banking portal or app.
- Please take a screenshot of your bank statement, starting from the date of refund completion.
- Reply to this ticket with the screenshot.

How this can help?
Sometimes, banks face delays in depositing the amount to your account even after the refund is completed. We're continually working with banks to pass on feedback about such delays. When you share a screenshot, we'll use it as proof to send over to your bank, and this may help prevent such issues in the future.

Is it safe to share my statement with PhonePe?
When you reply to a ticket on the PhonePe app with a screenshot of your bank statement, please be assured that any confidential information is absolutely safe with us.

Please note that PhonePe will never call you or send emails asking for your account or statement details. To keep your account details safe, please make sure that you don't share bank statements anywhere except on the ticket we've created on your PhonePe app.