Transfer To An Incorrect Bank Account Number – What To Do?


We carry out several bank transfers practically every month. We pay for our bills, loans, exchange currencies, etc. Many people set up bank accounts just for transferring money to different people and institutions. We know that when we do something relatively often, there is a certain probability that we may make some mistake. It is not different in the case of transfers. The most frequent errors can include entering an incorrect recipient account number. Then what? Will we lose our money? We will try to explain it below.

Only a few years ago, if we sent money to the wrong account, we had to count only on the good will of the person to whom the money went. Banks, sheltering the banking secret, did not tell us who our funds went to, so we did not know who to turn to for a refund. Today the case looks a bit different. According to the website , the regulations allow for a deviation from the banking secrecy, thanks to which we can find out who our money hit by accident.

So what to do when we notice that we have made a mistake? It all depends on the moment when we noticed the mistake. When immediately after making the transfer – we have a chance to quickly recover our funds. Because Elixir sessions take place in strictly defined times, so if the money has not yet left our bank, all you need to do is contact us by phone and ask you to stop the transfer. A slightly longer procedure awaits us if we make an instant transfer or if we noticed a mistake later . Of course, we must report the situation to the bank. We can do it in the branch, by phone or via the Internet. The bank has 3 days to contact the person to whom we sent the money and inform about the error . When the recipient of the transfer decides to return the money (he has 30 days for it), the money will be returned to our account. Interestingly, the money will not go to us straight from his account, but the whole transaction will take place through a bank technical account. Thanks to this, the recipient of the transfer will not disclose his data to us.

And what if the person to whom the money came will not want to give our money back? In this case, we will receive the details of the recipient of the transfer and we will be able to return the case to the Court. Of course, in this case, the whole procedure will drag on, and we still have no certainty that we will get our money back. Therefore, always before making a transfer, check carefully the account number to which our funds are to be sent, so as not to make any mistakes.

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