If you mistakenly transfer money to a wrong account, do not panic, simply do this
According to our financial desk report, cases of wrong money transfers have become increasingly common as more people rely on mobile banking apps and USSD codes for daily transactions. But if you ever find yourself in this situation, don’t panic — you can still recover your money if you act fast.
Here’s what to do:
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Contact your bank immediately. Visit your branch or call customer service to lodge a formal complaint. The bank will begin an internal investigation and track where the money went.
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Let the bank handle the process. Your bank will notify the receiving bank, which in turn will contact the account holder who mistakenly received your funds. In most cases, the person will be asked to refund the money voluntarily.
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If the recipient refuses to cooperate, escalate. Your bank may advise you to report the case to law enforcement or obtain a court order, as keeping money mistakenly sent to one’s account is a criminal offense under financial laws.
Remember — quick action and proper documentation give you the best chance of recovering your money. Always double-check account details before confirming any transfer, no matter how small. Read Original