LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Kiran Kumar   04 January 2024

Wrong money transfer

I had wrongly done a transaction. But the account number and IFSC Code combination is incorrect. That means I had entered account number of Mumbai bank of baroda and IFSC code of tamilnadu branch. Usually when account number does belongs to branch money will not get deposited. In my case it got deposited. 

Can I appeal in RBI ?

 

Is bank liable for processing a incorrect payment 

 

Pls help



Learning

 4 Replies

P. Venu (Advocate)     04 January 2024

Have you taken up the issue with the Bank concerned?

T. Kalaiselvan, Advocate (Advocate)     04 January 2024

You may first approach the bank for this incorrect transaction and request for reverting the amount back to your account. 

If there's no proper response then you can plan for further legal action 

Kiran Kumar   05 January 2024

Okay sir Thanks for your response sir

Shruti   22 April 2024

IFSC code is meaningless. It's just a formality. There are other things that are meaningless entries in a banking transaction that I am not elaborating here. So be careful.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register