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Money transferred to wrong account, this is how to get refund 2023

Money transferred to wrong account, this is how to get refund 2023 - networth, wiki, biography
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The Reserve Bank of India (RBI) has released the Ombudsman Program Annual Report, 2021-22. In this report, the RBI noted that most of the complaints received during the year were related to digital payment and transaction methods.

We take a lot of precautions when transferring money.

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The Reserve Bank of India (RBI) has released the Ombudsman Program Annual Report, 2021-22. In this report, the RBI noted that most of the complaints received during the year were related to digital payment and transaction methods. Even though we are very careful when transferring money, mistakes can still happen. If even one number is wrong, your hard-earned money will go to the wrong account.

How to get money back if transferred to the wrong account?

Whenever you discover your money has been transferred to the wrong account, the first thing you think about is how to get it back. For this, you need to follow some steps.

According to the Bank of Baroda website, if money is transferred to the wrong account, the bank must be informed in advance. You can do this immediately by calling the bank’s customer care number. You must call them and provide all the details of the transaction. In return, the bank will provide you with an inquiry or complaint number.

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Additionally, you can report a mistaken transfer by sending an email to your bank’s customer service department. That means written records of all communications with your bank will be available.

There is another way. You can go to your home bank branch and talk to the manager and send an official notification about the wrong transfer.

Can money be refunded to the account?

Note that if the account number provided is incorrect or does not exist, the money will be refunded to the account immediately. However, according to the Bank of Baroda website, if the details are valid and the amount is lost, it is entirely up to the recipient to get it back.

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According to the bank, if the recipient approves the reverse transaction, you will get your money back without any trouble.

TagsMoney transfer Money transferred to wrong account Online money transfer

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Money transferred to wrong account, this is how to get refund

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