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If your money has been transferred to the wrong account, know how to get it back

Money Transfer: Due to the increasing digitization in the country, now most of the banking work can be done online. A large number of people use netbanking and do most of the bank work sitting at home. However, it is important to exercise caution while using online banking. It happens many times that people in a hurry accidentally send money to someone else’s bank account. If this happens to you too, then there is no need to worry. We’ll show you how to get your money back that went to the wrong account.

contact bank manager
If money goes into someone else’s account by mistake, then you should immediately contact your bank branch manager. You will have to give proof to the bank manager that you have mistakenly sent money to another’s account.

If the money has been transferred to the branch of the same bank in which you also have an account, then in such a situation, the bank only acts as a mediator and a mail is sent to the person to whom the money has gone. If that person gives his permission, then you will get your money back in the next 7 days. Also, if your money has gone into the account of another bank, then you will have to meet the officials of that bank and tell them your problem.

What if the other person refuses to pay?
If the person (to whom your money has gone by mistake) refuses to return the money to you, then you can file a legal complaint against him. For this, you must have the written information of the recipient received from the bank.

If that person agrees to return your money, then he has to submit documents like ID and address proof to his bank, after which you can get your money.

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.

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