My husband and I are currently in the UK, and he transfers some money from his salary to his Indian ICICI account for some EMIs. Today when he was making the transfer, he accidentally entered the wrong account number, but the account belongs to the same bank (ICICI) and the same branch (Najafgarh). He called the branch manager, who told us that the account in question has not had any transactions for the past 5 years and the KYC isn't complete too. The account holder's permanent address is in Darbhanga, Bihar. He said he will get in touch with his legal team and let us know what can be done. He has already sent an email to the bank as well as the bank here in the UK. What else can we do? Is there a chance we will get the money back?
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Contact the account holder
send him email requesting him to transfer funds to your bank account
mention money was wrongly transferred into holder account by mistake
if he cooperates you should get your money failing which you would have to sue him to recover your money
We don't have details of the account holder. Can the bank share such details with us?
Bank can furnish the details of residential address of account holder , his email Id , contact number to you
Dear ma'am,
You have done your part, you contacted the bank and have told the details, now the bank shall look into this matter.
you are required to keep a record of all the emails and conversation details for references in the future. incase the bank does not take adequate steps, you can take legal action against the bank. till then it is advisable to wait till the bank fulfills its obligation and you are required to timely inquire the bank regarding this matter.
When any unauthorized cash is received by account holder he is bound to return the same. If he fails it amounts to criminal breach of trust under Section 406 of Indian Penal Code, 1860. It is for the bank to see that your money is returned to your account. Bank is bound to share detail with you. Then you can issue notice him and proceed against him seeking recovery.
You need to file a civil suit in that case if he denies the same to you
- Since, you have already informed the bank , then the bank is under obligation to check the details of the beneficiary and if the person holds an account with the same branch, the bank can request him to return the money.
- Further, as the said bank has informed you with the address and details of that beneficiary , then you can send a notice to him for the refund of the credited amount in his account .
- Further as per the rule of RBI, It is the responsibility of the bank to take necessary steps in case the money gets deposited in someone else's account by mistake.
- Hence, the ICICI is also responsible for returning your money from the wrong account to the correct account after debiting the account of beneficiaries.
- You can also lodge your compliant with the RBI , if not get refund the said amount.
If the money sent to the wrong account number by mistake had been usurped by the account holder even knowing that it do not belong to him, it would be difficult to recover the amount.
The bank can put pressure on the wrong account holder only to some extent, later when the account holder refuses to return the money then the bank authorities also may not be in a strong position to help you legally on this issue.
You may thoroughly follow it up.
You can ask the bank to furnish the details of the account holder to whose account this money was transferred by mistake.
The bank may oblige and may furnish the desired details in the given situation.
If you have made complaint to bank within 24 hours of the transaction, Then you money will get refund.
Still you feel Bank Manager is not co-operative then you can make complaint to RBI officer. You for safety purpose you can send an email to RBI officer and keeping CC to Branch Manager and ICICI Bank Regional Manager as well.
