Here's how to get the money sent to the wrong account

There are many ways of transferring money today. There are many mediums available including Internet banking, UPI. However, sometimes it happens that we are in a hurry to enter the wrong account number that will transfer the money to someone else's account. There is an urgent need to take action, which we are going to discuss next.

Here's how to get the money sent to the wrong account
Here's how to get the money sent to the wrong account

After transferring the money, confirm that the person you sent the money to has received it. If the money has been reached in his account then it is ok and if not reached, check that you have filled in the correct name, account number, bank etc. information.

Inform the bank immediately in writing If you feel that you have mistakenly transferred money to the wrong person's account, please inform the bank immediately, as well as the information in writing. These include the date and time of the transaction, your account number and all the information in which the account has been mistakenly transferred.

Sometimes this happens because of the wrong account number or IFSC code, the money transferred is automatically returned to your account. However, this may take some time. If you do not automatically have money in your account, go to the bank and meet the branch manager. Try to know which bank account the money went to and if this wrong transaction happened at a branch of your bank, your money will easily be returned to your account.

Refund Amount If the money has been mistakenly transferred to another bank account, it may take longer for the refund. Often, such cases can take up to 2 months. You can get information from your bank about which branch of a city has been transferred to which account. You can even try to get a refund by talking to that branch

Bank Giving Direction: When you transfer money from your bank account to someone's account you get a message. It says, if the transaction is wrong then send this message to this number. The RBI has also directed banks to take immediate action if the money is mistakenly deposited into another account. The bank is responsible for returning your money from the wrong account to the correct account

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