This question deals with whether you have transferred money to wrong account within your bank or to a different bank. Both scenarios covered and what you can do in both situations, covered from popular banks and UPI portal.

I found this information really helpful and that is why, presented the sorted information, just for your inconvenience.

1 Taken from PhonePe Website –

What to do when you make a wrong money transfer

Since money transfers via UPI directly credits the transferred money to the receiver’s bank account, reversing the money transfer is a challenging feat. Banks do not allow us to cancel or reverse UPI payments. For money to be reversed, it is mandatory for the receiver to provide their consent to the bank to transfer funds.

If the receiver is a family or friend, it would be quite simple to get the money back, however in case you make a wrong transfer and are unable to retrieve your funds, here’s what you need to do:

  1. Contact your bank directly and raise a wrong credit chargeback with the Unique Transaction Reference (UTR) number of the payment.
  2. In case the person you’ve incorrectly sent money to holds an account with your bank, your bank can directly contact them on your behalf and request to reverse the money to you.
  3. In case the person you’ve incorrectly sent money to holds an account with another bank, your bank can only act as a facilitator, and provide you with some details of the branch. You will need to visit the branch and speak to the manager for further assistance.
  4. The money can only be reversed if the receiver agrees. If they do, the money will be transferred to your account within 7 days.
  5. If the receiver fails to respond to your request or the bank is unable to retrieve the amount, you can file a complaint on the NPCI portal (https://npci.org.in/).
  6. After following the above processes, if the complaint remains unresolved, post 30 days you can approach the Banking Ombudsman and escalate the issue.

2 Taken from IndiaFilings website-

Legal Remedies Available for Wrong Money Transfer

Wrongly transferred monty cannot be easily reversed without the consent of the wrong beneficiary.  To get the money back, the beneficiary has to accept that a wrong transaction is made. In case a wrong beneficiary fails to return the money back, then a written complaint must be lodged immediately with the concerned Bank(s). Then a Lawyer can be engaged to provide a notice to the wrong beneficiary, requesting that the money be transferred back. If he or she refuses to give the money, even after a Legal notice, then a legal case can be initiated, though its a expensive and time-consuming route for resolution. Hence, its best to employ a legal route, only if the sum involved in large enough to warrant the legal expense and time.

3 Taken from PolicyBazaar Website-

How will you Take Quick Action if you have Made the Wrong Transaction?

  • If you have made the wrong transaction then immediately inform the bank and its concerned manager.
  • You must know that if the account number mentioned by you does not exist then your money will automatically be transferred into your account. In case the account number exists, you will have to take an immediate action.
  • Provide the bank details to prove that you transferred the fund to the wrong
  • If the amount has been credited to an unintended beneficiary’s account who has the name same as your intended beneficiary, you will have to provide proof to support that the transfer made was wrong.
  • For the sake of better communication, write a detailed mail about the matter to the bank.
  • The bank acts only as a facilitator and can provide you details like branch name and contact number of the unintended
  • Since it is your hard earned money, try to keep a track of the situation or the status of progress in the matter.
  • The bank may approach the recipient on your behalf in case the transfer is intra-bank. It may request for a reversal of transaction.
  • If the beneficiary agrees, the transaction will be reversed back within 7 working days.
  • In case of beneficiary from another branch, you have to personally visit the branch to meet the bank manager for the solution.

In case the Wrong Beneficiary Refuses to Return the Amount

It is not possible to get the money back without the consent of the wrong beneficiary. The process is a little tough, but he/she has to accept that there was a wrong transaction made to his/her account. Then, you need to contact your bank and communicate the matter in detail. You may also have to provide ID proof, address, and other details asked by the bank.

  • Communicate the matter in detail via mail. This also helps to keep a track of your complaint.
  • The person might refuse to return your money. In such a case, you may take legal action. Though, the situation becomes more complicated if your bank and the beneficiary’s bank are different.
  • If everything goes well and the person agrees to return your amount, then will take 8-10 working days to reverse the transaction.
  • The situation can get complicated and recovery would not be possible if the beneficiary refuses approval.

4  Taken from AdityaBirlaCapital website –

What to Do if You Execute a Bank Transfer to the Wrong Account?

If you execute a bank transfer to the wrong bank account, you can take the measures listed below:

  • Inform your bank: You should immediately inform your bank and its concerned manager.
  • Provide your bank details: You should provide the respective bank details to prove that you transferred funds to the wrong account.
  • Prove that the transfer was accidental: If the amount has been credited to an unintended beneficiary’s account, you will have to provide proof to support that the transfer was made accidentally.
  • Send a detailed mail: For enhanced communication, write a detailed mail about the incident to the bank.
  • Seek help from the bank: The bank acts as a facilitator and can provide you details like branch name and contact number of the unintended beneficiary.
  • Reversal of transaction: The bank may approach the recipient on your behalf in case the transfer is intra-bank. It may request for a reversal of transaction. If the beneficiary agrees, the transaction will be reversed back within 7 working days.
  • Visit the branch if it is a different bank: In case the beneficiary is from another bank, you should personally visit the branch to meet the bank manager for a solution.


Note: You should know that if the account number typed by you does not exist, then your money will automatically be transferred back into your account. In case the account number exists, you will have to take an immediate action.

What to Do if the Wrong Beneficiary Refuses to Return Your Funds?

Generally, it is not possible to get your money back without the consent of the wrong beneficiary. However, here’s what you can do if your money is sent to the wrong bank account and the beneficiary refuses to return your funds:

  • The wrong beneficiary will have to accept that a wrong transaction was made to their account. Then, you will need to contact your bank and communicate the matter in detail. You may also have to provide an ID proof, address, and other details.
  • You can also communicate the matter in detail via mail, which also helps to keep a track of your complaint.
  • If the wrong beneficiary refuses to return your money, you can take a legal action. Though, it may be difficult if your bank and the beneficiary’s bank are different.


If the beneficiary accepts the wrong bank transfer and agrees to return your amount, it will then take 8 to 10 working days to reverse the bank transfer.

5 Taken from Kotak Bank Website –

What is the RBI saying?

As per the RBI’s guidelines, it is the responsibility of the remitter to share valid and correct beneficiary details while transferring funds.

Though it is mandatory to mention the beneficiary name in the instruction request and it should be part of the fund transfer message. Transfer of funds solely relies on the beneficiary account number. The aforementioned guideline is true for both physical and online modes of money transfer.

What will happen if the transaction is a success?

In case you have mistakenly initiated a transfer to a wrong account and the fund has been credited to the other bank’s beneficiary account, you may follow the mentioned steps:

  • First thing first, inform your branch or contact your relationship manager to inform the incident.
  • Note down all the details related to the wrong transaction.
  • You might have to visit the branch to submit a written application and hand over all details along with screenshots.
  • The bank will share the beneficiary details with the other bank where the money has been transferred.
  • If the account is in the same Bank, the bank may act as the facilitator and seek permission from the beneficiary to initiate transaction reversal.
  • 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.
  • The branch will contact the beneficiary and request a credit reversal.

Is credit reversal possible without beneficiary permission?

The bank has no right to initiate credit reversal without the beneficiary’s permission. In that case, you may approach the law with all the presentable documentation and inform the incident.

5 Taken from Bank of Baroda website-

What happens after submitting the Wrong Transaction Complaint?

If it is an intra-bank transaction, the bank itself will reach out to the wrong recipient and request the reversal. If it is a transfer to another bank, your bank will act as a facilitator, providing you with the details of the wrong recipient’s bank and branch. Then you can personally visit the concerned bank and talk to the manager. You may have to produce all proofs and communications regarding the incorrect transaction. The bank manager will then contact the wrong recipient and request that the incorrect credit is re-transferred to you.

Hope all these posts cumulatively helps you in assessing the situation of refund of wrong money transfer.