Did you send money to the wrong account? Do not worry! HOW do you get it back


New Delhi: Gone are the days of having to queue for an hour at the banks for transactions. Now United Payment Interface (UPI), internet banking and mobile wallets have greatly reduced the problems with banking transactions. In addition to the growing acceptance, the risks have also grown.

During the transfer, amounts are often deposited into the wrong account. Sometimes this also happens with bank fraud. In that case you can get the amount back. Let’s take a look at the process.

RBI new guidelines

Under RBI’s new guidelines, it is the bank’s responsibility to refund your money within 48 hours. If the bank does not help to get the money back, the customer can complain to bankingombudsman.rbi.org.in. In case of incorrect transactions, you can send a letter of complaint to the bank.

Please state the account number, the name of the account holder, the transaction reference, the transaction date, the amount and the IFSC code and the account number on which the transaction was inadvertently made.

Legal procedure

There is also a legal way to get your money back. If the person to whose account money was transferred by mistake refuses to return it, a lawsuit can also be filed against him. However, in case of non-refund of money, this right is considered a violation of the rules of the Reserve Bank.

According to the guidelines of the Reserve Bank of India, it is the responsibility of the left to provide the correct information about the beneficiary’s account. If the left makes a mistake for any reason, the bank will not be held responsible for it.





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