Money sent to someone else’s account by mistake Nowadays everyone has started using digital means to transfer money. In which the number of people using UPI payment is continuously increasing.
Nowadays transactions can be done easily through digital wallet, UPI, BHIM app and other services RBI guidelines are that in such a situation the bank has to arrange for the money transferred to the wrong account to be returned to the right account First, take a screenshot of the transaction as proof that you have made a mistake . Next, contact the customer service of the UPI app you used (like Google Pay, PhonePe or Paytm) for assistance. If it does not result in a refund, contact the customer service of the bank where the money was transferred.
Money has been sent to someone else’s account by mistake
If you have accidentally sent money to the wrong account through a UPI app like Google Pay, PhonePe or Paytm, don’t panic. There is a process you can follow to recover your funds. This information is especially useful for people who frequently use UPI for digital payments.
If you use UPI for digital payments, it is important to know what to do in case of an error. Whether you’ve accidentally sent money to the wrong account or need to know how to handle it, the information below is crucial. Knowing what steps to take can help you resolve any issues quickly and get your money refunded. So, if you ever make a wrong UPI payment or exchange money through UPI, make sure to read and understand the complete information below. Did UPI transfer money to wrong account by mistake? So don’t worry, just follow these steps
What to do after sending money to wrong account through UPI?
If you find yourself in a situation where money has been sent to the wrong account through UPI, there are steps you can take to resolve the issue and potentially get your money refunded.
First, take a screenshot of the transaction as proof that you made a mistake.
Next, contact the customer service of the UPI app you used (like Google Pay, PhonePe or Paytm) for assistance.
If it does not result in a refund, contact the customer service of the bank where the money was transferred.
You can also visit your own bank and show the screenshot of the transaction to the branch manager.
In some cases, the money may automatically return to your account within a few days.
If the information provided here does not resolve the problem, you can lodge a complaint with the Reserve Bank of India (RBI) Ombudsman, who is the most senior officer in the RBI and can help resolve customer issues.
It is important to be prepared if you ever accidentally make a wrong payment or use UPI. If the money ends up in the wrong account, there are steps you can take to get it back, such as contacting customer service or visiting your bank. Remembering these methods can help you recover your funds if this ever happens to you. Note that you can withdraw the refund by following the methods described above.
First inform the bank about this
If by mistake you have transferred money to someone else’s bank account, first inform your bank by phone or e-mail. Meet the branch manager at the earliest. Only the bank to which you have transferred the money can solve this problem. Inform your bank about this transaction in error. Include the date and time of the transaction, your account number and the account number to which the money has been mistakenly transferred, etc.
Legal action can be taken
In case money is transferred by mistake, the receiver is ready to return the money. But if he refuses to return the money, you can file a case against him. You also have the right to take legal action against you in such cases. You can take legal action by filing a complaint with the bank. RBI’s guidelines are that if money is mistakenly credited to someone else’s account, your bank should take immediate action. The bank has to make arrangements to return the money from the wrong account to the correct account.
Money will be returned
If the account number to which you have transferred the money is wrong or the IFSC code is wrong, the money will be automatically credited to your account. But if this does not happen then go to your bank branch and meet the manager. Tell him about this wrongful transaction. Try to find out which bank account the money went to. If the money is mistakenly transferred to another bank account, it will take longer to get the money back. Many times banks also take 2 months to settle such cases. You can find out from your bank that the money has been transferred to which account of which branch in which city. You can also get refund by talking to that branch.
What does the BHIM rule say?
According to BHIM rules, if a person has transferred money from BHIM UPI app to another person’s account, then you will not be able to send money to them again. For this you have to request the receiver itself to transfer your money a second time. When you transfer money from BHIM app, it is very important that you check all the details. Transfer the money only after checking all the details of the person to whom the money is to be sent and avoid any loss
Keep these things in mind while making online payments
When transferring money, double check the receiver’s bank account number.
While entering the bank account number in a hurry, if even a single number is moved back and forth by mistake, your money may be transferred to the wrong account.
Add Account Beneficiary before sending money. So, you get the facility of frequent transfers.
Start sending money to someone else’s account with a small amount for the first time. So, if the money goes to the wrong account, the loss is reduced.