Don't Let UPI AutoPay Drain your Bank Account, Here's How to Stop Unwanted Payments

Life is easier with UPI. With just one tap, you may pay your bills, renew your subscriptions, and prolong your gym membership.  But here's the catch- UPI AutoPay could also make you pay for things you stopped using months ago.

The old meditation app you stopped using after January? Or the online course that you took but never finished? If autopay is left enabled, money is discreetly leaving your bank account every month. 

What is UPI AutoPay?

Putting up AutoPay for UPI is like putting up a standing order.  You provide authorisation once (an e-mandate), and the payment deduction happens on a defined schedule, like every month, every three months, or however you like. 

Your UPI app normally sends you a notice before each transaction, but honestly, only a few of us actually read them. The autopay feature comes in handy for things like streaming services, loan payments, insurance payments, utility bills, mobile recharges, or SIPs. But if you ignore what’s going on in the background, convenience can become carelessness.

How to Stop UPI AutoPay?

UPI autopay should be tracked closely to avoid unnecessary money deductions. Here's how to stop those extra AutoPays before your bank account balance inexplicably goes down again. 

1. Launch your UPI app. It can be BHIM, PhonePe, Paytm, or Google Pay. 
2. Go to the Settings or Profile section. 
3. Tap on AutoPay or Mandate
4. This will show you a list of services for which AutoPay is enabled. 
5. Select services you no longer want to pay for. 
6. Click "Cancel," "Pause," or "Revoke," depending on what your app says and do.  That service won't take another rupee without your permission.

Some Tips You Should Follow for Smart UPI Payments

Check your UPI AutoPays every three months. Check your active mandates regularly.  If you don't know someone on the list, look them up.  It could be an old subscription, or even worse, a sign-up you forgot about that is still charging you.

How to Get Back Your Money Already Deducted 

If you didn't want a payment to go through, you call the customer service number for the service provider; most will give you your money back if you do so fast.  If they don't answer, tell your bank and ask them to stop future debits from that source.

There is no denying that UPI AutoPay is helpful, but don’t just set it and forget it- you may end up paying more than you should. The good news is you can prevent this by following these simple tips. 

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