Money transfer to wrong account number; To get back your money here is the complete solution

Money transfer to wrong account number; To get back your money here is the complete solution.

Money transfer to wrong account number
How to get back your money if you accidentally transferred money to wrong account ?

In this modern era all people want to do all banking transactions in online mode according to their convenience. All the banks in India, i.e public and private sector banks are now a days providing online banking facilities to their valued customers. Today at home, we are able to transfer money to who ever we want. This online banking system is very easy and convenience, but have some risk factors along with the convenience. Sometimes people transfer money to wrong person's account number, actually this happening due to entering wrong account number in a hurry, so your hard earned money reaches the account of an unknown person.

So here we come up with a solution to your problem, In this we discuss the ways through which you can get your money back even if you transfer money to unknown person account. So read carefully all the methods which are very useful for online banking users:

◆If you transferred money to unknown account number, you should immediately inform to your bank through phone or email (Email communication is preferred). Based on your information, the bank will inform the bank of the person in whose account money has been transferred by mistake. The bank will ask that person permission to return the wrongly transferred money.

◆At the same time, as per RBI's Policy that if money is transferred to someone else's account by mistake, then your bank will have to take action as soon as possible to make arrangements to return the money from the wrong account to the correct account. Here, If the unknown person receiving the money agrees, then your money will be returned to your bank account within 7 working days. 

◆There is another legal way to get back your wrongly transferred money. If the unknown person in whose account the money has been transferred accidentally by mistake, refuses to return it, then a case can also be filed against him in the court. However, in case of non-refund of money, this right comes in the context of violation of RBI rules. So RBI will take the right action against person with bank to shutout the problem, but this process may take little more time to get back your money.

These things you should remember while you are doing any Online Money Transfer:

We discussed all above the possible ways to get back your money, if you accidentally send money to unknown person account. But to avoid these complications you should take care during entering details of account number and name to whom you want to transfer money, then check it again and if required verify the details agsin. It would be better to transfer small amount of money and check whether it is going to right account or not before transferring a big amount.

Note:- All the methods are discussed is useful for all type of Online Transactions i.e Net Banking, UPI and Mobile Banking users.

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