Sent money to the wrong bank account? What to do now
“Dear @TheOfficialSBI I made a payment to the wrong account number by mistake. I have given all the details to my branch as told by the helpline. Still, my branch is not providing any information regarding the reversal. Please help,” the customer posted.
In reply to this query, SBI’s official Twitter account has mentioned the steps you need to take if you have sent money to the wrong bank account. If a customer has entered the wrong bank account number of the beneficiary while transferring money, he or she needs to contact the home branch. Then, the home branch will initiate the follow-up process with the other bank without any pecuniary liabilities.
However, if the matter is not resolved at the branch, then the customer can raise a complaint at https://crcf.sbi.co.in/ccfunder Personal segment/ Individual customer – General Banking/ Branch related/ No response to queries category and mention the details of his or her issue in the comment box, the SBI said. “The concerned team will look into it,” the public sector bank further mentioned.
Replying to another customer facing the same issue, SBI earlier said, “Customers are requested to verify the accuracy of the beneficiary account details before initiating a digital transfer. Kindly note that the bank will not be responsible for any erroneous transaction initiated at the customer’s end. However, the home branch of the customer can initiate follow-up processes with other bank (s) without any pecuniary liabilities. Please contact your home branch and the respective beneficiary bank for more assistance in this regard.”
Wrong bank account transfer: What RBI says
The responsibility to provide correct inputs in the payment instructions, particularly the beneficiary account number information, rests with the remitter/originator, as per the Reserve Bank of India (RBI). “While the beneficiary’s name shall be compulsorily mentioned in the instruction request, and carried as part of the funds transfer message, reliance will be only on the account number for the purpose of affording credit. This is applicable both for transaction requests emanating at branches and those originated through the online/ internet delivery channel. The name field in the message formats will, however, be a parameter to be used by the destination bank based on risk perception and/or use for post-credit checking or otherwise,” the central bank said.
