Bank Transaction Tips: If money goes to someone else's account by mistake, RBI told how to get it back..
During the last few years, the prevalence of digital banking has increased significantly in the country. The easy availability of smartphones and the internet has promoted digital banking. UPI has taken it to even remote villages.
This has made many banking operations possible, especially money transactions, in a jiffy. However, some dangers have also increased with this. There was a mistake of one digit and the money went to someone else. Due to this many people have to suffer losses.
This caution will reduce mistakes-
If money is lost somewhere else by mistake, it can be recovered if action is taken in time. Today we are going to tell you this. Before that, let us discuss some precautions so that such a mistake does not happen. Before sending money anywhere, double-check the details. If you are sending through UPI, then after scanning the QR code or entering other details, the name of the account holder appears, confirm it. By doing this, the chances of making a mistake will be reduced and you will get rid of later problems.
Must check email and message-
After transferring money through any method, a message and email comes regarding the deduction of money. After transferring money, check the message and email. With this, you can immediately know whether the money has gone to the wrong account. If you have accidentally sent money somewhere else, inform your bank without delay.
For this, the customer care of the bank can be called. The bank can ask you for all this information through email. In the email, tell the bank the information like transaction number, amount, from which account the money was deducted, to which account the money was transferred by mistake and the date and time of the transaction.
RBI has taken these measures-
For such a situation, RBI has taken a big solution. Whenever you do any transaction, in the message or email you get informing you about it, banks ask whether you have done this transaction by mistake. The Reserve Bank has made it mandatory to ask this. Besides, it is also necessary to provide a number or email in that message. If the money has been transferred by mistake or has gone to the wrong account, then immediately complain on that number or email. This is the easiest way to get back the money deducted by mistake.
In these cases the money will come automatically-
Many times it happens that the IFSC number is entered wrongly or the bank account you enter is not activated. In such cases, money may be deducted from your account, but in these cases, the amount deducted is automatically credited back. If the money does not come back on its own then you can go to your bank branch and complain to the manager. Your money will be returned within a few days.
This number is very useful for UPI-
Nowadays most of the transactions are happening through UPI. If you have also made a mistake in sending money through UPI, then immediately take a screenshot of it. All payment apps including Paytm, PhonePe, Amazon Pay, and Google Pay give the option to share or save the receipt after the transaction. If you make a habit of this, you will have an account of all the transactions and this will be useful in case of any mistake. Complaints about wrong transfer through UPI can be made by calling 18001201740. This is a toll-free number.
After this you will have to go to the bank-
If a complaint on toll toll-free number does not get a solution then you will have to go to the bank. In such a situation, if the account to which you have sent the money and your account both belong to the same branch, then you will get the refund quickly. If the account in which the money has been transferred is of some other bank or branch, there may be a delay in getting the money back. In such cases, it may take up to two months for the money to be refunded. You will get information from your bank as to which bank branch has processed the transaction. You contact the same bank branch directly. The concerned bank branch will contact the person in whose account the money has been transferred by mistake and seek consent to return the money.
This is the last resort-
If the person in whose account the money has gone refuses to return it, then the process can be lengthy. In such a situation, you may have to take recourse to the court. You may need to initiate legal action by sending a notice from the court. Reserve Bank of India rules say that banks are not responsible for this. Since you fill in all the details yourself, the entire responsibility also becomes yours.
Follow our Whatsapp Channel for latest update