Have you ever made a mistake transfer? Do you know that you can reverse your mistaken bank transfer? Yes, you heard me well. You can reverse it! If you want to learn how to reverse a mistaken bank transfer, then keep on reading this.
There are many causes of a mistaken bank transfer, this is why it is very important that you are careful when making a transfer so that you do not have to deal with the stress of trying to reverse your transaction, this is because you cannot try to reverse your funds if the person you transferred to has not given the permission for this to take place. A mistake transfer occurs when you transfer funds from your account to an incorrect account or when someone transfers funds from your account to another account without your awareness.
How can I reverse a mistaken bank transfer?
There are three ways by which you can reverse a mistaken bank transfer which I have explain below:
1. Reversing your fund transfer from an account that does not exist
2. reversing your fund transfer from an account you know
3. reversing your fund transfer from an account that you do not know
How To Reverse Mistaken Bank Transfer Within 24 hours In Nigeria
REVERSING YOUR FUND FROM AN ACCOUNT THAT DOES NOT EXIST
The first way I have outlined is reversing fund transfer from an account that does not exist. This is by far one of the easiest ways to reverse funds. This is because you have mistaken transferred to an account that does not exist. This way, you do not even need to go to a bank as the funds will automatically be reversed on its own.
REVERSING YOUR FUND TRANSFER FROM AN ACCOUNT THAT YOU KNOW
The first way I have outlined is reversing fund transfer from an account that you know. This method of reversing funds is not as easy as the first which we have looked at. In this case, you have mistakenly made a transfer to an account that you know which could be a family member or a friend. For example, you are to send 10,000 to a friend but you end up sending it to a cousin.
You can therefore easily tell the person you have mistakenly transferred to about it. You then proceed to tell them to make a refund to you. They would definitely transfer it back to you.
REVERSING YOUR FUND TRANSFER FROM AN ACCOUNT THAT YOU DO NOT KNOW
The first way I have outlined is reversing fund transfer from an account that you do not know. This method happens to be the most complicated from all the methods I have outlined because you need to get your funds back from someone you have mistakenly transferred to that you do not know. Once you notice that you have made a transfer mistakenly to an account that you do not know, you would need to contact your bank immediately.
You would need to provide the customer support center with the following information:
1. the amount you mistakenly sent
2. the account name you transferred to
3. the account number you transferred to
4. the transaction time
5. the transaction id.
Once you have provided the accurate information of what I outlined above, the bank would freeze the account of the person you mistakenly transferred to for 48 hours. you bank would then take action to reach out to the individual so that he or she can make a refund of the fund that was mistakenly transferred.
How can I avoid a mistaken transfer?
You need to be extremely careful when making a transfer so that you do not go through the hassles of trying to reverse your funds. Here is how you can avoid a mistaken transfer:
1. cross check the account number you about to transfer to because just a single number can cause a mistaken transfer
2. make sure that the account name tallies with what you were given to transfer to
3. using bank apps in transferring is more reliable than USSD. It gives you the avenue to cross check both the account number, the account name as well as the amount to be sent at the same time.