The Reserve Bank of India (RBI) has released the annual report of the Ombudsman Scheme, 2021-22. In this report, RBI has mentioned that most of the complaints received during the year were related to digital payment and transaction methods.
The Reserve Bank of India (RBI) has released the annual report of the Ombudsman Scheme, 2021-22. In this report, RBI has mentioned that most of the complaints received during the year were related to digital payment and transaction methods. Although we take a lot of precautions while transferring money, mistakes can still happen. If even one number goes wrong, your hard earned money will go to the wrong account.
How to get money back if money is transferred to wrong account?
Whenever you come to know that your money has gone into the wrong account, the first thing that comes to your mind is how to get it back. For this, you have to follow some steps.
According to the Bank of Baroda website, the first thing to do when money is transferred to the wrong account is to inform the bank about it. You can do this immediately by calling the customer care number of your bank. You will have to call them and give them all the details of the transaction. In return, the bank will give you a request or complaint number.
Apart from this, you can also give information about the wrong transfer by sending an email to the customer service department of the bank. That means written documents of all communication related to your bank will be available.
There is another way too. You can talk to the manager by visiting the home branch of the bank and submit an official notification of wrong transfer.
Can the money be returned to the account?
Do note that if the account number provided is incorrect or does not exist, the money will be credited back to your account immediately. According to the Bank of Baroda website, however, if the details are valid and the money is lost, it will be entirely up to the recipient to get it back.
According to the bank, if the recipient of the funds approves the reverse transaction, you should get your money back without any hassle.
