Kuldeep Patel
Asked June 14, 2016

undoing wrongful transfer

  • 1 Answer
  • 149 Views

I have transfer the online amount of 36365.00 by mistake to another account which was added in payee but want to transfer to other account. Now benificary who got the money not responding. Kindly request to you please let me know what can i do in this condition.This is very big amount for me because it's my five saving. Thanks a lot in advance.

Answer 1

These are your options:

  • Inform your bank immediately. If the funds have still not been transferred to the beneficiary’s account, your bank can block the fund transfer.
  • If the funds have already reached the wrong beneficiary of a different branch or bank, only the bank where the beneficiary holds the account can help you out. Meet the branch manager of your branch and initiate a request to the branch concerned to take necessary actions for reversing the amount.
  • If your branch or the branch concerned is not helping you to sort this out after repeated requests or visits, you can raise a complaint against the bank with their higher authorities.
  • If the wrong beneficiary does not return the funds, you can also initiate legal action him if you know his details, and file a civil suit for recovery of the money.

One important point to note here banks cannot reverse the transaction from their side without the customer’s (who has received the money) approval. So try and talk to the person who has received the money, and convince him to return it to you.

Agree Comment 0 Agrees about 1 year ago

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