Advocate Siji Malayil practices at Karnataka High Court. He enrolled with the Bar Council of Karnata... Read More
Recover Money Mistakenly Transferred In A Bank Account
I have transferred money to some other account by mistake. In account number one digit was worngly typed. We have immediately informed the bank but by the time bank take the action person has transferred money to some other account. Now that person is not giving money. We have also lodged a police complaint about the same. Police were also not able to recover money. Please advise the process for the same.
- Sector-1, Noida
The most important thing to understand is that if a transaction has been made, the bank cannot reverse it from its end without approval from the beneficiary. The bank can only act as a facilitator. You can file a legal case with the help of a recovery lawyer but no recovery is possible if the beneficiary contests the reversal and refuses approval.
Answered on 22 Aug 2019
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