by If you have accidentally transferred money to the wrong account, it is important to act quickly and try to get the money back. The first step should be to contact the bank or financial institution to which the money was transferred. Explain the situation to the customer service representative and provide as many details as possible, such as the date and amount of the transaction and the account number to which the money was transferred.
The bank may be able to trace the transaction and contact the other account holder to try to recover the funds. If the other party is willing to cooperate, they may transfer the funds back to your account. If not, the bank may reverse the transaction, depending on its policies and procedures.
If you are unable to get the money back from the bank, you may be able to take legal action. Depending on the jurisdiction, you may be able to file a lawsuit against the other party to recover the funds. Before taking legal action, be sure to consult a qualified attorney.
There are many ways to get money back. As per RBI guidelines, the payment service provider should be informed first if the user transfers the money personally. Whichever app you have used like Paytm, Phone pay, Google pay etc. report to their customer service. Each UPI app has its own customer support. You can report the problem and ask for the money refund.
Let us see how to file a complaint on the NPCI portal
- Go to the official website npci.org.in
- Click on the ‘What we do’ tab
- Select the UPI option
- Now you can select the dispute redressal mechanism
- You can submit the complaint including details like UPI transaction ID, virtual payment address, remittance amount, date of transaction, mobile number and email address etc.
- Select ‘Incorrectly transferred to another account’ as the reason for your complaint
- Finally, you have submitted your complaint.
Click here to go to the official website
