Raghunandan Money – Investment Khushiyon Ka.

Why Did the Mutual Fund Payment Fail?

By: Akriti Tomar | Date : Dec 11, 25

Mutual fund payments may fail due to issues related to UPI, netbanking, NEFT/RTGS, eMandates, or AMC-level rejections. The following tables provide the exact failure messages, reasons, and refund timelines.

UPI Failure Messages and Reasons

 
Payment failure message Reason
Payment was unsuccessful as you could not pay with the UPI app within time. The payment request expires after 5 minutes. If not approved within this duration, the transaction is cancelled.
Payment was unsuccessful as you could not complete it in time. The UPI app did not respond within the gateway’s 5-minute validity window.
You may have cancelled the payment or there was a delay from the UPI app. The request was cancelled on the UPI app or timed out.
Payment was unsuccessful due to a temporary issue. Any amount deducted will be refunded within 5–7 working days. Temporary issue with the linked bank account. Use an alternate bank account to retry.
Payment failed. Please try again with another bank account. Payment not captured by the bank but forwarded to the gateway. Client must check with their bank.
Your payment didn’t go through as it was declined by the bank. Bank declined the transaction. Retry using netbanking, NEFT/RTGS, or eMandate.
The gateway request to submit payment information timed out. The 5-minute window expired. If debited, funds will be refunded.
Invalid VPA / Incorrect UPI ID. Incorrect UPI ID entered. Retry with a valid UPI ID. Any debited amount will be refunded.
Payment processing failed due to error at bank or wallet gateway. Error on the bank or UPI app side. Retry after some time.
Payment was unsuccessful as the bank linked to this UPI ID is temporarily unavailable. Bank servers are unavailable. Any debited amount will be refunded within 5–7 working days.
Payment was unsuccessful due to a temporary issue at your bank. Error from the client’s bank. Retry later or contact bank.
Your payment is pending approval. Debit request is pending with the bank. Order will process once bank confirms.
You’ve reached the maximum transaction limit for this account. Daily bank limit reached. Retry with a different payment method.
UPI refund timeline: 3–7 working days depending on the bank/gateway.

Netbanking

Payments may fail due to delayed authorisation from the sponsor bank.
  • If debited and not reported to ICCL: refunded the next working day.
  • If reported to ICCL: refund processed within 5 working days, with email notification.

NEFT / RTGS

  • Payments are credited directly to ICCL.
  • Orders are mapped FIFO.
  • If the payment cannot be mapped or the amount doesn’t match: refund processed by T+4 working days.

eMandate

  • Fails if the bank account has insufficient balance on debit date.
  • The bank may charge a penalty.

AMC-Rejected Orders

If the AMC rejects the order after payment:
  • AMC refunds ICCL by T+5 working days.
  • ICCL then credits the investor’s bank account.
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