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Sometimes, a small negligence while doing an online transaction can become a big problem. Sometimes, some people mistakenly enter the wrong bank account number, due to which the amount goes to the wrong account. At the same time, sometimes due to a technical glitch in the bank's system or the mistake of an employee, someone else's money can come into your account. In banking language, it is called "wrongful credit". By the way, in such cases, the Reserve Bank of India (RBI) and the bank have fixed rules and procedures to resolve it, which are necessary to follow.

If ever a large amount is suddenly transferred to your bank account, do not be happy thinking it is a lottery or a game of luck, because this money may be related to illegal activities. It may also be that this amount has been sent for some crime, fraud, or anti-national work. In such cases, according to the law, you can also come under investigation and get into trouble. So the right step is to immediately inform your bank and the nearest police station about it, so that you remain safe.

What to do instead of panicking?

If money is transferred to another account by mistake, then instead of panicking, it is most important to take the right step immediately. First of all, inform your bank through phone, email, or mobile banking app, and then share complete details like date, time, amount, and account number of the transaction. It will always be better for you to meet the concerned branch manager as soon as possible and file a written complaint.

RBI rules

According to RBI guidelines, it is the responsibility of the bank to take immediate action on the customer's complaint and try to resolve the problem within 48 hours, so if the account number to which the money has been sent does not exist, then the money is automatically returned to your account.

Option of legal action

Apart from this, if the money has gone to someone else's account, then the bank requests that person to return the money. However, remember that the bank cannot withdraw the money without the consent of that person. Apart from this, if that person refuses to return the money, then you also have the option of taking legal action.

You may be jailed
If you knowingly or unknowingly spend the money that has come into your account by mistake, then it can be considered a legal offense. Let us tell you that in such cases, action can be taken against you under Section 406 of BNS. Under this section, there is a provision of 1 to 3 years of imprisonment, a fine, or both. So whether the amount is small or big, returning it immediately or informing the bank police is the safest way, so that you can avoid legal trouble.

If the person spends the money transferred by mistake and refuses to return it, then you have the right to take the legal route. In such a situation, a recovery suit will have to be filed in the Civil Procedure Court. At the same time, the court will collect the details of the accused's properties and attach them if needed. After this, your money will be compensated through these properties. If the accused does not have any property, then the court will find an alternative solution and deliver justice.

Tips to avoid mistakes

Before making any payment, double-check the recipient's name, account number, and UPI ID.

If you are sending a large amount to someone for the first time, first confirm by sending a small amount (like ₹1).

Save frequently used contacts in the UPI app. (Note: The news is based on general information.)

5 FAQs:

1-What is wrongful credit?

When another person's money is transferred to a bank account by mistake, it is called wrongful credit.

2-What should be done first in such cases?

Immediately inform your bank in writing or through email and give complete details of the transaction.

3-If wrong money comes into my account, can I spend it?

No, doing so is illegal, and legal action can be taken.

4-What do RBI rules say?

According to the RBI, the bank has to investigate such cases quickly and return the money to the correct account.

5-What to do if the other person refuses to return the money?

You can file a recovery suit in the civil court or lodge a complaint with the police.

Disclaimer: This content has been sourced and edited from Zee Business. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.