If you have sent the money to the wrong bank account then you can request the bank manager to hold that money in the beneficiary account, so that the person can not use that amount. In the meantime, the bank or you can contact that person and request him/her to give back that money.
Here you can know how to write a letter to the bank manager for the wrong bank transactions and also download the sample letter format.
Sample Letter Format to Bank Manager for Wrong Transaction
The Bank Manager,
Name of the bank,
Sub: Wrong money transfer
I, Raghuram Santhapuri, savings bank account holder of your bank with a/c number 32100256456. On 25/12/2020 I have made a wrong money transfer for an amount of 10000 Rs (Thousand Rupees).
Instead of sending money to a/c no 123456789 in favor of Mr. Sunil Padala, I have sent the money to 123456780.
I have made this transaction through Quick transfer mode through my internet banking portal, and the reference number of the transaction is 456789456.
Here I am requesting you to please help me in getting back my money, I will be grateful to you.
What happens when you transfer your money to the wrong bank account
- If the other person doesn’t use that money and belongs to the same bank then your bank can put that money on hold. So the wrong beneficiary cannot withdraw or use that money for other purposes.
- If the wrong beneficiary belongs to another bank then your bank will request the other bank to put that money on hold request, but it depends on how fast your bank or other bank responds.
- Once the money put on hold then the bank request the wrong beneficiary about this issue and ask him/her to pay back that money to the remitter.
- (Or) you can take the contact number of that person and request to give back your amount. But it all depends on the other person to whom the money was wrongly credited.
- If the wrong beneficiary is a genuine person then he/she may contact their bank’s branch and intimated the issue, in that case, it is easy to get back your money. (But it is very rare to find people like that)
So it is always better to double-check the beneficiary account details or mobile number whenever you are transferring money either through internet banking or UPI payment services like Google Pay or Phonepe.