If you accidentally transfer money to wrong bank account, then how will it be returned – Check Here

If you accidentally transfer money to wrong bank account, then how will it be returned – Check Here

If money is transferred to another person’s bank account by mistake, then first inform your bank by phone or email. It would be better if you meet the branch manager as soon as possible.

New Delhi. A lot of time is being emphasized on digital payment. There has been a huge increase in digital transactions between and after the Corona crisis. At present, money transactions are being done easily through digital wallets, NEFT / RTGS, UPI, Google Pay, BHIM app and other services. All these mediums are the easiest ways to send or receive money. Due to these, it has become easy to transfer money, but the same mistakes are happening. Many times, when the bank account number is mistakenly typed while transferring money, it gets transferred to the wrong account.

Know what to do if the amount is transferred to the wrong account? What are the rules of Reserve Bank of India (RBI)?

Immediately inform your bank

If money is transferred to another person’s bank account by mistake, then first of all inform your bank by phone or email. It would be better if you meet the branch manager as soon as possible. Only that bank can resolve this issue, in whose account the money has been transferred. Call your bank’s customer care center and tell them everything. If the bank asks for all the information through e-mail, then send the complete details of the transaction. In this, information like transaction date, time, your account number, where the money was sent, its account number will be included.

Meet with Branch Manager

That you have transferred money into the bank account, they account number is wrong or incorrect IFSC Code (IFSC) is money you will arrive in your account. At the same time, if it is not so, then go to your bank and meet the branch manager. Give him complete information about this wrong transaction. Try to know in which bank account the money has gone. If money has been transferred to another bank account by mistake, then it may take more time to get the money back. Sometimes banks can take up to 2 months to settle such cases. You can find out from your bank that in which branch of which city the money has been transferred to which account. You can withdraw the amount by talking to that branch.

FIR itself can be done

In most cases of accidentally transferring money to someone else’s account, the receiver is ready to return the money. If he refuses to return the money then you can file a case against him. You also have the right to take legal action on your behalf in such cases. If you want, you can take legal action by registering a complaint with the bank. RBI has directed that if money gets deposited in someone else’s account by mistake, then your bank will have to take quick steps. The bank will have to make arrangements to return the money from the wrong account to the correct account. Nowadays, on transferring money, a message is received on mobile and mail that if the transaction is wrong then send a message to this phone number. You can also file a complaint through this.

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