Cheque wrongly credited to somebody else account
Ganesh
(Querist) 04 July 2018
This query is : Resolved
I had asked my father to deposit cheque in my bank account. The cheque had my correct account number but by mistake while filling deposit slip my father filled wrong account number. Now money has been credited to wrong account number instead of what is mentioned in the cheque.
Spoke to Bank Manager and he is arguing that due to wrong number mentioned in deposit slip, it is credited to wrong account. Though i agree partly it is our mistake but cheque had correct account number. I expect bank should have credit to account number mentioned in the Cheque.
After argument with Bank Manager, finally he agreed to check with "Wrong account person" and get the money (2 lakhs) in 10 days. He doesn't have answer what happens if the person doesn't return in 10 days. Now I am waiting for 10 days to get over (until 13th July 2018). Please guide me know how to approach this further.
R Trivedi
(Expert) 05 July 2018
Bank is also at fault. If both the account number and name do not match then they transfer the money to suspense account for future adjustment if claimed. And bank does not have to talk to him, your manager should immediately lien the money in that wrong beneficiary account and call him for amicable return.
Ganesh
(Querist) 05 July 2018
@Trivedi - To further clarify, The account number and name is correct on the cheque (as per bank records). The mismatch is between cheque details and deposit slip (rose slip) that my father filled while depositing in the bank.
Yesterday evening Bank Manager called to credit 70,000/- to my account. It seems this was recovered from the wrong account person. He said that he has forzen the other person account now and asked me to wait for 10 days to recover remaining 1.3 Lakh.
Ganesh
(Querist) 05 July 2018
@adv Kamakshi -
I agree both deposit slip account number and account number mentioned on the cheque should match (cheque had both my name and account number). In my case, cheque's account number is correct and deposit slip account number is wrong. As Mr. Trivedi explained, in this case, money should have gone to suspense account for clarification rather Bank decided to credit the money to deposit slip account number. This is mistake from bank part, if my understanding is correct. Now I believe onus on Bank to recover the money and pay it back. I don't need to approach wrong account person to recover the dues as you have mentioned. Please clarify.
P. Venu
(Expert) 05 July 2018
The person in whose account the money has been wrongly credited is bound to return the unearned amount. And the Bank is obliged to take appropriate steps for the purpose. However, your insistence on the Bank being more at fault than you (or your father) only helps to distract the real issue.
K Rajasekharan
(Expert) 05 July 2018
Your instruction to the bank should be the bank manager's Bible for what to do in a cheque deposit case.
If you - or your father - has written the number wrongly you cannot find fault with them.When you write a wrong entry you are tacitly agreeing them too to make similar mistake and deposit your money in a wrong account.They have also the same right to make such a mistake.
Bank doesn't exist for reconciling the wrongs done by the customers. But if they do it shows their magnanimity and service mindedness.
krishna mohan
(Expert) 12 July 2018
Banker has duty to verify and credit to the right beneficiary irrespective of mistake in the account no. You can submit a written representation for credit. Failing which you can file a compliant with Ombudsman of your region online with all evidence so that at their intervention bank will be compelled to recover. Do update on the outcome based on above efforts.
Ganesh
(Querist) 24 July 2018
This issue is now resolved. The money has been returned by wrong person and bank credited remaining money to my account on 12th July 2018 (day earlier than originally committed).
I don't agree with some of the experts advice. Neither I am asking favour nor bank is doing any favour to me. No reason for me to feel guilty. As Mr. Krishna Mohan explained, Bank has duty to follow code of practice as per RBI guidelines. In case of mismatch between account number and account name, bank should investigate before taking any decision.
Based on my search, I found that following grievance address stages at the bank.
Stage 1 - Complaint Registration with Regional Head
Stage 2 – Escalation of Complaint to the Deputy General Manager, Customer Relations Dept. (CRD) at HO
Stage 3 - Escalation of Complaint to Principal Nodal Officer
Final stage - Escalation of Complaint to the Banking Ombudsman
I raised the online complaint (stage 1) with the evidence. The bank manager called me next day to assure me that he is taking all necessary steps to recover the money. I can sense change of his tone. Within three days of complaint, I got my money back. Thanks to Bank Manager and the person willingness to return.
During my conversation with Bank Manager, I found that generally bank don't verify the account number written on the cheque rather they go by what is written on the deposit slip. I think this is scary as there is chance to forge. I didn't argue with him much but need to watch out for this.
