Learn how to block UPI ID linked to your bank account and manage your payments.
Digital innovation in the banking industry has changed the way we transact today. Be it payments, fund transfers, or purchases, you can complete a host of banking tasks within a matter of clicks. All you need is your smartphone and a stable internet connection.
A major reason for such a shift in India is the digital revolution that has taken the banking industry by storm. One term that has become the buzzword in the banking and transaction industry in India is UPI. Let us understand what it is, how it works and how to deactivate UPI ID if needed.
Short for Unified Payment Interface, UPI is a payment system launched by the National Payment Corporation of India (NPCI). It has added to the growth of digitalisation in India. Today, you can make payments on the go simply by linking your bank accounts to this payment system.
As a new-age payment system, UPI enables you to send and receive payments digitally on a real-time basis. UPI apps have become a typical means to make instant payments. You can link more than one bank account to a single UPI app and carry out small and big ticket transactions seamlessly. You need not provide your account number and IFSC code to complete the linking process. All you need is your mobile number registered with the bank account (RMN) to create a UPI ID instantly. The UPI ID is your Virtual Payment Address (VPA) that others can use to send you funds, without requiring your bank account details.
Once you have created your UPI ID, you can secure it with a four- or six-digit PIN or biometrics, and conduct financial transactions like shopping, transferring funds, making payments to vendors, checking account balance, etc., within seconds. You may also check your transaction history to track your spends and view your receipts digitally on the UPI app.
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At some point, you might want to deactivate your UPI ID. You may want to close an account, move overseas, or simply stop using the UPI account altogether. Whatever your reason may be, the process to deactivate UPI is just as simple as linking it. You can unlink your bank account from the UPI ID within a few minutes. Listed below are the steps on how to unlink bank accounts from UPI apps
With these simple steps, the bank account gets unlinked from the UPI app.
The process of how to unlink a bank account from UPI works similarly for almost all UPI apps with slight variations in settings. You can easily navigate through the process irrespective of which UPI app and bank account you wish to deactivate from services. You can also reactivate the UPI app and link it to the bank account in future, without any hassles.
To stop using the UPI facility altogether, you can select to close your account with the UPI app. When you re-register, you will get a new UPI ID. Another alternative is disabling the UPI service on your bank account. You can contact your bank branch to do the same. You may have to file a request with the bank. After your request is processed, the UPI ID linked to your bank account will get deleted permanently. Some banks also allow you to submit UPI activation and deletion requests through Net Banking. You can check with your bank for the same to avoid the hassle.
When you block or deactivate your UPI ID, you lose your virtual payment address and cannot make and receive payments via UPI apps. Making payments via QR codes to peers and merchants is also not possible. However, you can still use other digital payment methods like Aadhaar Enabled Payment System (AePS), Mobile Wallets, Debit/Credit Cards, etc. You can also use Internet Banking facilities, including National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS), and Immediate Payment Service (IMPS) to transfer money seamlessly.
Additionally, banks allow you to block your UPI ID if you suspect unauthorised access to it. Blocking the UPI ID under such conditions can prevent fraudulent transactions. But deactivation is not the only way to avoid fraudulent activities. You can enhance the security of your UPI accounts by setting and frequently changing UPI PIN or choosing biometric unlocking.
Now that you know how to deactivate UPI ID, you can easily deactivate the payment system whenever needed. It is worth noting that your UPI ID is different for different bank accounts, even if it uses the same registered number. Hence, when you choose to permanently delete it from your bank account, you can still use UPI with other bank accounts, if any.
In such cases, if you want to stop using your UPI facility entirely, you should delete it from all your bank accounts. Alternatively, you can simply unlink all your bank accounts from the UPI apps you use.
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*Disclaimer: This article is for information purposes only. We recommend you get in touch with your income tax advisor or CA for expert advice.