Wrong credit given by bank
cyberca
(Querist) 17 April 2012
This query is : Resolved
SIR,
ON 31ST MARCH NATIONALISED BANK CR. WRONGLY SOME AMOUNT TO MY SB ACCOUNT. I HAVE NOTICED THROUGH NET BANKING REGARDING WRONG CREDIT GIVEN BY THE BANK. DUE TO CLOSING OF THE BANK I WAS NOT INFORM TO THE BANK. I HAVE WAITED TILL 3RD APRIL TO RESERVE OF WRONG CREDIT GIVEN BY BANK. ON 3RD I TRANSFERRED THE AMOUNT TO MY ANOTHER SB ACCOUNT IN OTHER BANK THINKING THAT AFTER CONFIRMING THE I CAN RESERVE THE SAME AND RETURN BACK. IN BETWEEN THE BANK EMPLOYEE APPROCH ME FOR THE SAME AND STATED THAT THE MISTAKE HAPPEN FROM OUR SIDE PL. RETURN THE AMOUNT (IT IS ORAL COMMUNICATION BETWEEN BANK EMPLOYEE AND ME) IT BETWEEN BANK DEBITED BY SB ACCOUNT WHICH WAS WRONGLY CREDITED DUE TO WHICH MY SB ACCOUNT DR. BALANCE AND ONE OF MY ESC BOUNCE. (I WAS HAVING SUFFICIENT AMOUNT TO CLEAR MY ECS) MY QUESTION IS THAT CAN BANK DEBIT THE SAME WITH WRITTING DEBIT MY ACCOUNT? SECONDLY THEY HAVE DEBITED INTEREST FOR THE SAME (i.e. DEBIT BALANCE)?
IN THIS CASE WHAT CAN I DO FOR DEBITING INTEREST AND NON RECEIPT OF WRITTEN COMMUNICATION FROM BANK.
(I HAVE DEPOSITED WHOLE THE AMOUNT WHICH WAS TRF. FROM MY ACCOUNT)PL. ADVISE
Shonee Kapoor
(Expert) 17 April 2012
It is fine pal.
You can ask them for a written confirmation that is it.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
ajay sethi
(Expert) 17 April 2012
if your bank account has been wrongly credited bank is justified in debiting your account .
prabhakar singh
(Expert) 18 April 2012
Mr.cyberca!
Sorry to state you not your banker is at fault.
a wrong credit can be corrected by corresponding entry of debit and that is only rule of accounting.
SAINATH DEVALLA
(Expert) 18 April 2012
Dear Querist,
Of course it was a mistake by the bank,and these things happen sometimes.But once you found the credited amount in your account,you should have kept quiet,because the bank would have rectified the mistake at the end of the day.You should not have moved the amount into you another account.Here the fault lies in you and you cannot blame the bank.Hence no remedy.
RAJU O.F.,
(Expert) 18 April 2012
Instead of crediting to the account of another customer, amount was wrongly credited to your account by an employee, by oversight. Even after knowing it was a wrong credit you had withdrawn the said amount and transferred to another account in another bank. Bank corrected their mistake by debiting your account; but by the time money had already gone making it under debit balance. Please settle the matter amicably without precipitating the issue further, for getting peace to the banker and yourself.
C. P. CHUGH
(Expert) 20 April 2012
In this age of computing, such error are not surprising. Hence the bank was very much right in correcting their error. Now you played smartly and moved the funds, which otherwise did not belonged to you, you have to face the consequences. Request the bank and they would reverse the interest. settle amicably. Legally nothing to be gained.
c.p.s. ramachary
(Expert) 24 April 2012
I fully agree with the opinion of Mr. O.F. Raju. You were under moral obligation to inform the bank about the wrong credit. But you have failed to do so of course with good intention to refund the same when bank requested you. But instead of that you have transfered to your another account. If you have had not transfered the amount the bank could reverse the wrong entry as bank had right to recover any mistaken payment. I don't think bank is wrong in reversing the entry from your account. You should have informed the bank to avoid the above said emberasment of breach of your ECS instructions the bank.
R.V.RAO
(Expert) 30 January 2014
am sure you have not expected a wrong credit and surely must have kept sufficient amount in your account to honour ECS debit.so there is no chance of amount being insufficient to honor your monthly/qrtrly ECS commitment.
quasi contracts law says no body should unduly enrich themselves at the expense/cost of others. so it is clear. two wrongs cannot make one right.
whatever bank wrongly credited,they subsequently debited.
bank is not even obliged to talk to you before debiting your account,as it is only a corrective action.
you have no cause of action. sorry.
