₦airaland Forum

Have you ever transferred a huge amount of money to an incorrect account? If you've ever be a victim, kindly sit tight and read between the lines and the rigors and frustrations you witness will be reduced. A lot of human beings have lost jobs, businesses, relationships, or even their lives due to this problem, however, I've a little bit of information for you.

Though no one ever plan to make a transfer to a wrong account. The unfortunate is that many human beings have been a victim of this thing, which usually result to loss big sum of money.

The fundamental subject of this write-up is, every time you transfer cash to an incorrect account, the cash isn't always misplaced, you may nonetheless reclaim it and the way it works is what I'm approximately showing.

Whenever you plan to transfer cash to someone and it mistakenly got into a wrong account do not panic, just visit the bank you are using and table your complaint.

When you notify your bank of the development, they will investigate your account to confirm if the cash has virtually left the account. If they discovered that the cash has left your account, they'll then contact the bank official of account it landed. Once that is done, they'll tell the bank officials of the development, the bank official will then contact the owner of the incorrect account, informing him/her that the cash that was transferred to his/her account was an incorrect transaction.

At this stage, the owner of the incorrect account is predicted to conform and send the cash back to the real owner.

Hopefully, with all things being equal, wrongly transferred funds should be reversed within 2 days. However, sometimes it could take longer, even running into months, due to various reasons.

Now, the bank does not just go ahead to reverse the sum to your account simply because you claim to have been defrauded. If this is were the case, some persons could mischievously try to recall funds used as payment for legitimate services or products.

In resolving the complaint, the recipient has to verify your claim that the funds don’t belong to them. Like most banks state, consent from the recipient has to be given to reverse the amount in dispute, unless it is an outright fraud case.

If the recipient insists that it’s a valid transfer and refuses to give consent, the bank could maintain the hold on their account, making it impossible to spend the money. The problem, however, is that your money remains stuck in the account till the day they walk into the bank to authorise the reversal.

In some cases, the bank may advise you to take the case to court and secure an injunction to get back the money, or compel the recipient to show up.

If it is a case of fraud, you might need to involve relevant law enforcement agencies. Also, the account is then added to the watchlist for subsequent transactions, or completely closed, depending on the gravity of the allegation.

Whenever making a transfer, be sure to double-check account name, number and bank to avoid sending the money to someone else with similar details. Also, avoid divulging personal details to fraudsters so that they don’t gain access to your account to carry out unauthorised transfers.

SOURCE: https://efogator.com/what-to-do-if-you-mistakenly-transfer-money-to-a-wrong-bank-account/

No bank has the right to freeze anybody's account by just a mere allegation without a valid court order.


Any bank that tries that with me,I will sue their already useless ass and claim damages.

Pierocash:
No bank has the right to freeze anybody's account by just a mere allegation without a valid court order.


Any bank that tries that with me,I will sue their already useless ass and claim damages.

Not when the said transaction is fraudulent in the first place and not when you are involved in a scam. Otherwise why should someone place an oder placing an hold on your account? I have been a victim of transferring money to dubious accounts which ended up not being refunded. it is depressing.

hmm OK lesson learnt

This didn't help.

Absolutely nothing new here or helpful.

This is what people has been doing.

dangermouse:
Not when the said transaction is fraudulent in the first place and not when you are involved in a scam. Otherwise why should someone place an oder placing an hold in your account? I have been a victim of transferring money to dubious accounts which ended up not being refunded. it is depressing.

how do you ascertain transactions that are fraudulent? What legal frame work or indices do they use to arrive at the conclusion of the term "fraudulent"?

It is only the court that has the jurisdiction to issue order on the account,any attempt to do contrary to that is a violation of the account holders fundamental right which has consequences if pursued in court.

People and institutions should always learn legal precendences and stop taking laws into their own hands.

Pierocash:
how do you ascertain transactions that are fraudulent? What legal frame work or indices do they use to arrive at the conclusion of the term "fraudulent"?

It is only the court that has the jurisdiction to issue order on the account,any attempt to do contrary to that is a violation of the account holders fundamental right which has consequences if pursued in court.

People and institutions should always learn legal precedence and stop taking laws into their own hands.

When I mistakenly send a sum of money to your bank account and common sense dictates to you to refund said amount, when you lure me with fake promises and business deals and when money is being transfered to your account, when a third party remits an amount of money to your account requesting you to forward to another different account etc. These are fraudulent transactions which are against moral and bank ethics which I know you know. Unless you are ignorant or maybe trying to play to the gallery.

dangermouse:
When I mistakenly send a sum of money to your bank account and common sense dictates to you to refund said amount, when you lure me with fake promises and business deals and when money is being transfered to your account, when a third party remits an amount of money to your account requesting you to forward to another different account etc. These are fraudulent transactions which are against moral and bank ethics which I know you know. Unless you are ignorant or maybe trying to play to the gallery.

the law does not work with common sense,or emotion.

There are legal frame work designed to address such grievances which resides with the court of competent jurisdiction

If a police man sees a criminal shoots someone to death,does he have the right to impose punishment on the offender? NO! the police will need to take advantage of the legal frame work to make the offender pay.they don't just go and lock you up and say,"common sense knows that he is a criminal". Who pronounced him a criminal?

Same applies to what you are saying.

Pierocash:
how do you ascertain transactions that are fraudulent? What legal frame work or indices do they use to arrive at the conclusion of the term "fraudulent"?

It is only the court that has the jurisdiction to issue order on the account,any attempt to do contrary to that is a violation of the account holders fundamental right which has consequences if pursued in court.

People and institutions should always learn legal precendences and stop taking laws into their own hands.

I made an POS withdrawal and my account couldn't be debited at the time, a fault which wasn't mine and if which I did not notice at the time. months later it was traced and had to be debited from my account. Are you sayung the court will roast the bank for it? what is right is right and we should learn to condemn that which is bad. Our society is so much decayed that the abnormal is fast becoming the normal, reason fraudsters are being celebrated and tolerated. If you mistakenly transfer money to someone's account and you couldn't get it back, I know you would recant all these your above assertions and demand a refund from your bank.

Pierocash:
the law does not work with common sense,or emotion.

There are legal frame work designed to address such grievances which resides with the court of competent jurisdiction

If a police man sees a criminal shoots someone to death,does he have the right to impose punishment on the offender? NO! the police will need to take advantage of the legal frame work to make the offender pay.they don't just go and lock you up and say,"common sense knows that he is a criminal". Who pronounced him a criminal?

Same applies to what you are saying.

You are obviously not reading between the line. The bank as an institution has it's own legalities in dealing with such transactions and that's what the op highlighted and that's what many people don't know including you. And yes the police has the right to put down an armed criminal resisting arrest anywhere in the world.

dangermouse:
I made an POS withdrawal and my account couldn't be debited at the time, a fault which wasn't mine and if which I did not notice at the time. months later it was traced and had to be debited from my account. Are you sayung the court will roast the bank for it? what is right is right and we should learn to condemn that which is bad. Our society is so much decayed that the abnormal is fast becoming the normal, reason fraudsters are being celebrated and tolerated. If you mistakenly transfer money to someone's account and you couldn't get it back, I know you would recant all these your above assertions and demand a refund from your bank.

you are not getting the point here. You can get your money back through legal processes without infringing on the right of the accused. After all, an accused is deemed innocent until proven guilty.

No bank has a right to lock an account on account of allegation and accusation without a valid court order.

Doing that is illegal and can be pursued in court and damages awarded.

It may not sound nice to you,but that is the law bro.

Arguing it till tommorw doesn't change the position of the law.

Pierocash:
you are not getting the point here. You can get your money back through legal processes without infringing on the right of the accused. After all, an accused is deemed innocent until proven guilty.

No bank has a right to lock an account on account of allegation and accusation without a valid court order.

Doing that is illegal and can be pursued in court and damages awarded.

It may not sound nice to you,but that is the law bro.

Arguing it till tommorw doesn't change the position of the law.

The banking industry is regulated with their own laws too. That's what the op is highlighting here. Try and get it too. You can take it to the banks

dangermouse:
You are obviously not reading between the line. The bank as an institution has it's own legalities in dealing with such transactions and that's what the op highlighted and that's what many people don't know including you. And yes the police has the right to put down an armed criminal resisting arrest anywhere in the world.

the bank has their legality ,and their legalities doesn't include freezing an account without a valid court order.

You don't lock an account by just allegation or accusation,what if the allegation is wrong.

It the court that has the right to issue such directive and not the bank. The bank can put other modalities in place in assisting
you recover it by interacting with the parties involve for possible cooperation from the account holder.

Anything outside that,it is only the court has the power to make pronouncement as regards freezing it ,and not the bank.

dangermouse:
The banking industry is regulated with their own laws too. That's what the op is highlighting here. Try and get it too. You can take it to the banks

does that include freezing an account? Show me the banking act that says that without a court order.

Pierocash:
the bank has their legality ,and their legalities doesn't include freezing an account without a valid court order.

You don't lock an account by just allegation or accusation,what if the allegation is wrong.

It the court that has the right to issue such directive and not the bank. The bank can put other modalities in place in assisting
you recover it by interacting with the parties involve for possible cooperation from the account holder.

Anything outside that,it is only the court has the power to make pronouncement as regards freezing it ,and not the bank.

Its step by step bro. when all other avenues has been exhausted then if blocking the said account becomes necessary, then the bank will tow that part. They won't be stupid to do it without following due process and your suing them later will amount to nothing. Don't indulge in illegal activities its as simple as that.