How to recover money transferred to the wrong account
Nowadays, transactions through UPI or internet banking are the most popular. People use UPI for everything from shopping to buying movie tickets, but many times, while making payment, in a hurry, the money goes to someone else’s account by mistake. If ever this happens to you too, don’t panic. RBI has some guidelines for recovery of money, through which you can get the money back in your account. In this regard, NCIB has also made people aware by sharing a post on social media.
Register a complaint on a toll-free number
As per RBI guidelines, if your money is accidentally transferred to someone else’s account while making payment through UPI or internet banking, you must immediately lodge a complaint on the toll-free number 18001201740. Inform the customer care about your issue, also provide information about which account number and at what time the payment was made. If the facts are found to be correct, your money will be returned to your account within 48 hours.
Contact bank branch
If the payment is made to the wrong account through UPI and Net Banking, contact the bank branch and report it by filling the form. Submit proof of wrong online payment message. Fill the form with details like transaction reference number, date, amount and the wrong account to which the money was transferred. If the bank is reluctant or refuses to help, you can file a complaint against the bank at bankingombudsman.rbi.org.in. As per RBI guidelines, it is the responsibility of the bank to investigate the complaint and make the refund within 48 hours.
