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Saturday, April 4, 2020

Don't worry if money is transferred to the wrong bank account by mistake, the bank will refund your money.


Don't worry if money is transferred to the wrong bank account by mistake, the bank will refund your money.



Often, the wrong bank details goes into the wrong bank account due to filling in the wrong details. Many people are unaware that what should be done in the event of such a tragedy and how to get the money back? Here's what you should do if this happens to you.

The process of getting money back


File a complaint to your bank as soon as possible in case someone else's account or more money is transferred. If you and the person in the same bank account are in the same bank, the process will be completed soon. Moneywill be returned to your account within a day or two.

The RBI's guidelines are that if the money is mistakenly deposited into another's account, the bank will have to take action sooner. The bank will have to arrange to return the money from the wrong account to the correct account.

You can also present a screenshot of the transaction for proof of transaction. The bankwill then process it, which may take 2 to 3 days.

This process can be completed quickly if the account of the sender and receiver is in the same bank, but if the receiver's account is in another bank, it will take time.

If the banker's account is in another bank, the bank account that you mistakenly transferred the money to will go to the bankbranch and complain there. The bank cannot transfer money to anyone without the permission of its customer.

In addition, banks do not provide information about their customers. So you have to make the bank aware of the whole situation. The bank will then inform the account owner and ask you to transfer the money back to your account.

In most cases of error transfer, the receiver is ready to give the money back. But if he refuses to give the money back, you can file a case against him.



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