Account to account transfer: What to do if you have transferred money to an incorrect account number?
Nowadays, most of the banking transactions are done through online mode. So, people now don‘t have the need to go to banks and stand in a queue for long time. People are using direct money transfers from a bank account (account to account transfer)for online shopping etc. Also, by using UPI apps like Google Pay there are many offers available. But, in some occasions people lose money due to various types of mistakes occurred during the time of online transactions. Money is often lost if money is transferred from one bank account to another bank account by entering incorrect account number. Let us take a look at what to do if you enter incorrect account number and transfer the money.
What to do if money is transferred to an incorrect account number?
Firstly, you need to call your bank’s customer care number and file a complaint. Otherwise, you can directly go to the bank branch to which you have sent the money, and inform the Operations Manager regarding the money you lost.
The bank informs the remittance bank that the money ( account to account transfer ) has been sent to the wrong account, but if the person who received the money hesitates to return the money, then legal action will have to be taken. It is possible to get back money through legal procedures, but it will take time delay.
If the transaction is done between the same banks, it is easy to find the details of the person who sent the money within a short duration, but if the transaction is done between different banks, it will take time to find out the person who received the money and its follow up procedures. If it is confirmed that the money has been sent to an incorrect bank account, the above mentioned steps should be taken immediately.
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