What to do if you accidentally deposit money into another’s account?

In the changing digital age, most people are now switching to online transactions.
Of course, along with financial transactions, various types of fees, insurance or loan installments, salary of employees, purchases, etc. have gone online. Different recharges, different bills, other transactions can be done online.
So people don’t have to use cash or go to the bank.

If you have an internet connection, you can do online transactions from your smartphone from anywhere.
But, what will you do if you accidentally deposit money into another’s account?

How can you deposit money into others account by mistake?

This cannot happen without having to enter the wrong account number while transferring money online. So go ahead only after confirming the account number you provided when sending the money.

What to do If the money is deposited in someone else’s account?

As per RBI rules, no one can withdraw money from your account without your permission. If this happens, you should inform your bank by phone or email within three days. You should then approach the bank manager and file your complaint.

The bank should inform the date and time of the relevant transaction. You should take a screenshot of the online transaction when combined. Also make a complaint in writing to the person whose account has been deposited in error and request that you get your money back.

This is how you get your money back:

Both banks will be investigating your complaint and transaction at each level. It will be checked to see if the money has gone into someone else’s account by mistake, or if someone else has accidentally withdrawn it. The person whose account was paid in error will instruct the bank to refund the money to their account holder. The bank will deposit your money back into your account after the bank confirms the check. The bank also has certain conditions.

What to do If you do not get your money back?

First of all, do the same as above to get your money part. Even so, if the account holder or his bank refuses to get your money back, file a complaint directly with the police. Your bank may also report it to the police based on your complaint. It is your bank’s responsibility to get your money back to you.

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