Contactless payments have been encouraged during the COVID-19 pandemic. People now prefer to pay through UPI or wallet or account instead of cash. But it is often seen that by sending money through digital mode, money can be deposited in the wrong account. People believe that once the money is deposited in the account of another beneficiary their money cannot be returned but this is not true. If you have transferred money to someone else’s account by mistake, you will get your money back. There is a banking process involved and once it is completed the customer can get the money back. Let us know how to recover the money transferred by mistake.
Follow these steps if money has been transferred to another account by mistake
Step 1: If you have transferred money to someone else’s account by mistake, then first of all go to your bank to find out in whose account the money has gone.
Step2: Now, approach the bank of the person in whose account the money has been transferred.
Step 3: You can get your money back by providing proof that the money was transferred by mistake.
According to the Reserve Bank, if money is withdrawn without your permission, then you will have to inform the bank about this incident within 3 days.
By taking this step the bank will be able to send the money back to your account.
increase in such incidents
For some time, many such incidents have come to the fore in which people’s money was transferred to the wrong account. People Are Also Victims of Online Fraud Incidents of people receiving spam phone calls, where scammers pose as bankers, have risen sharply during the COVID-19 pandemic.
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