One among the biggest financial nightmares is sending money to a bank account that was not supposed to receive the funds. Oops! This account holder is not familiar to you, and also there is no idea of his/her intentions of how complicated he will make the process of getting back that money. Still, it is necessary to take the required actions without any delay of a single minute.

Here are some tactics that you can try to get your money back safely to your bank account –

Inform to your bank IMMEDIATELY

You need to explain immediately to your bank about the mistake you have made. It is always the first thing to do because more official you keep the actions, stronger are the chances of faster recovery.

• Your bank can immediately send a message to the other bank to stop the payment by the other bank holder. Nothing can work faster than this.
• Also, the bank can stop your internet banking service for a while because that can help make the situation better and smoother.
• It is necessary to refrain from thinking that you can handle it on your own, or you will do it later. In many cases, people fail to recover due to the delay.
• Even if the transaction happened in the midnight and there is no actual person available to talk to you at least send an e-mail. It will become the responsibility of the bank then.

File a police report to cyber cell especially if the amount is big

Yes, it is a must if you have transferred in thousands or millions of Euros, because bigger the amount, bigger the risk. The recovery is difficult when the amount is big.

• Usually, the advice from the law and police side is that you should inform the cybercrime cell even if it is a short amount. The reason is, if you have the amount to a wrong account and that account holder has wrong intentions, he may try to get access to your money again. This time it will be his initiative.

Suppose you have taken a small amount through quick loans in Ireland to transfer to a friend to buy something for you. Mistakenly it goes to a wrong account, and you think it was a small amount why to inform the police, informing bank is fine. But how do you know that the account holder will not try to break your security in the greed in the future? That is why big or small, always inform the police.

Meet the branch manager personally

Despite all the necessary steps taken, you should always work on every aspect to help get faster recovery. Once again, the safety factor is important because you should think of the long-term impact of any carelessness irrespective of the amount.

• The branch manager has a better hold on such issues than those on the customer care number. The reason is, he deals the situations very practically in day-to-day responsibilities.
• You get the most suitable suggestions that support obtain a strong shield against the possibilities of a big issue. A personal conversation is much more beneficial than calling on customer care.

ONLINE MONEY TRANSFER SAFETY TIPS

The digitized world brings benefits and threats with it, but with some safety measures, one can easily send the money safely.

• Confirm the recipient bank details twice before sending the money Do not consider the job done until you do not receive the message of debt
• Once you receive the message check the account number once again
• Do not send all the money at the same time if the amount is big
• Always send a very small amount and call the recipient to confirm the transaction
• In case of any doubt, first of all, inform to the bank account even if it is a doubt only

Conclusive thought

Mistakes of sending the money to the wrong account number happen because it is a human error. It is essential to keep calm and follow the right procedure for recovery that always informs the bank account. Rest should be followed accordingly. The most crucial factor is the faster you work on it, smoother will be the recovery part.