Money transferred to wrong account by mistake? Here's how to get it back

The availability of multiple options to transfer money to different bank accounts has made our work easier and more rapid. But if you look at the flip side of it, the various digital platforms we use to transfer money can also create chaos and anyone can mistakenly transfer the money to an unintended account. 

Firstly, while transferring money, it is the remitter's responsibility to share valid and correct details. Even if you have mistakenly transferred the money to the wrong account, the biggest question is, how to bring it back?

here are some ways that you can get your money back if it was transferred to the wrong account: 

Step to reverse wrong transaction:

1. In case of aforesaid happenings, inform your branch immediately or reach out to your relationship manager. 
2. Carefully note down the details of the wrong account to that you have transferred the money. 
3. You might have to physically submit a handwritten application along with the beneficiary account details. 
4. The bank will act as a facilitator to seek permission from the beneficiary to initiate the reversal transaction if the account is in the same bank. 
5. If the account belongs to some other Bank, it is better that you approach the branch which holds the beneficiary account and request for transaction reversal.
6. The branch will contact the beneficiary and request a credit reversal.
7. Whether the amount gets transferred back or not will completely depend on the recipient, says the website of the Bank of Baroda. 

Note: If the transaction was made to an account that is incorrect and does not exist, then the bank will automatically initiate a reverse transaction, states Bank of Baroda.