Even small auto-debit amounts can make a big difference to your wallet in the long run
Nowadays many people take 7 days or 30 days free trial of OTT platforms, health apps, education apps and other digital subscriptions. But many times this free trial turns out to be expensive later. While starting the trial, the user unknowingly approves UPI AutoPay (UPI Mandate). After this, as soon as the trial ends, every month an amount of ₹ 199, ₹ 299, ₹ 499 or more starts automatically getting deducted from the bank account.
Money starts getting deducted every month without paying attention
Experts say that most people click on ‘Agree’ or ‘Continue’ without reading the terms and conditions of the app. During this time UPI Mandate also gets approved. Since the amount deducted is often small, many people do not realize for months that their account is being auto-debited.
What is UPI Mandate?
UPI Mandate or UPI AutoPay is a facility in which, once approved, payment is made automatically from the bank account every month on a fixed date or at a fixed interval. It is used for Netflix, OTT platforms, music apps, gym, insurance premium and many other subscriptions. If the use of any service is stopped, but the Mandate continues, money will continue to be deducted from the account.
How to check how many AutoPay are active in your name
If you suspect that money is being deducted from your account without your knowledge, then it is important to check all active UPI Mandates. For this, one can go to NPCI’s UPI Help portal and login through the mobile number linked to Aadhaar. Here all your active UPI Mandates will be visible. Those which are not needed can be revoked or closed from there.
If there is no option to remove a Mandate from the portal, it can also be stopped by going to the AutoPay or Mandate section of the respective UPI app like PhonePe, Google Pay, BHIM or Paytm.
Pay special attention to these things
Before starting a free trial of any app, read its terms carefully. If AutoPay is not needed, do not approve it. Keep checking your bank account and UPI Mandate from time to time. If you are not using any old subscription, then stop its AutoPay immediately. Even small auto-debit amounts can make a big difference to your wallet in the long run.
