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Online fund transfer through bank

Page no : 2

rajeev (director)     14 August 2013

Simply , the payment done by me has gone to wrong account no. by my mistake, what will be further legal procedure to get my payment ? is it possible or not

rajeev (director)     14 August 2013

i have complete address of account holder as well as icici bank branch.













Suri.Sravan Kumar (senior)     14 August 2013

in my opinion write letter to the account holder to whose account the amount was wrongly credited requesting for refund of the amount.

Kumar Doab (FIN)     14 August 2013

RBI is Central bank and its guidelines are statutory and mandatory.

RBI guidelines have already been posted.

You may submit a written complaint to BM of SBI and narrate all previous representations made by you in person and that he has declined to accept your representation and refused to act by stating nothing can be done.

Mark a copy to the Chairman of the bank, and to Nodal Officer, Divisional Manager to whom this BM reports.

It is strange that why can’t you handle the banker in SBI in your own city.

There are specific guidelines issued by RBI for such matters and this banker is duty bound to act. GATHER A CROWD OF WELL WISHERS AND TAKE YOUR LAWYER ALSO TO THIS BANKER AND DRILL SOME SENSE INTO THE HEADS. If this banker is adamant and recalcitrant call 100 and police and show them the RBI guidelines and declinature and conduct of this banker.

Banks are under CCTV surveillance. If your conduct is not offensive and you are not wrong this banker is inviting trouble for him.

You can also escalate to Grievance Redressal Cell and Citizen Charter.

You may approach BM of ICICI bank and submit a written narration and ask about escalation matrix and escalate also. Request the manager operations in the local branch to sound the BM of Devengere too. Or obtain details from website and escalalte.

You should immediately call toll free helpline number of SBI and ICICI bank as well.

You need to obtain a written communication from SBI specifying the transaction and provide it to ICICI bank so that ICICI bank blocks the transaction and refunds the amounts to originating bank SBI and then to you. ICIC bank shall act immediately upon receipt of communication/letter of SBI.




Advocate Sastry (Advocate)     14 August 2013

Dear Rajeev,

Get Phone number of the Branch Manager of ICICI Bank and speak to him on TOP PRIORITY…  Forget about legal procedures….

@ Kumar Deb,

Your suggestion for action is acceptable if the SBI has done the mistake in the account number while transferring the funds.... Here in this case Mr. Rajeev has transferred the funds himself by using the NET BANKING facility...He has done the mistake in typing the account number... Hence I suggest the matter should be resolved amicably with tact.....I wish GOOD LUCK to Rajeev and he will not repeat such mistakes in future...He will get back his funds...

The number of transations among banks  under RTGS and NEFT are inreasing day by day... Sometimes mistakes are bound to happen...Being humans we err and not the mahines.. I have seen that in many cases the RTGS/NEFT is returned when acount number does not tally... There are some exceptions like that of Rajeev....

rajeev (director)     14 August 2013

Today when i talked to beneficiary on his mobile no-09945731145 (SRASWATHI) , he told me that no amount has credited in his account but when i checked his account in ICICI Bank (through one of my best collegue,who is posted at ICICI Bank,Patna)rthere was rs 10200+18040=28240 is credited in his account.Now he refused to return my payment.This is my effort from my side.

        Now what will be my next action . i am just confused ????????????????????//

Kumar Doab (FIN)     14 August 2013

@ Mr.Sastry,

Your latest post meant for me is taken positively. I am thankful, to you for furthering the discussion.

You are absolutely right: There is no match and substitute for amicable approach.

The fact is that your posts shall update and educate many and thus serve the purpose of this forum.

The internet based transactions have its own hazards.

Mr. Rajeev, yourself and everyone has the right to not to accept everything that I have posted.

The following post is not meant to argue or debate. It is a heartfelt opinion.

We faced a similar situation with PNB.

The Dy. Manager was arrogant, rude, blunt and declined to issue anything in writing that was need of the hour from the PNB; which was originating bank. When we arranged a crowd of members of our society and our lawyer the Branch Manager regretted on behalf of bank and his deputy and immediately issued the letter containing the details. The affected member of our society carried the details to the other bank and mater was resolved.

The funds were refunded to the originating bank PNB and then to customer.


We have tried for long and after lots and lots of efforts have been able to form a united community and each member of the community gathers and stands for each other.

Our community does not shy from telling the bank, banker and other establishments that we all will pull out of the bank/establishment and then there may not be any business left in our locality which is very big. The bank, banker, establishment is free to shift the shop and store somewhere else. We do not shy from sounding the Chairman of the establishment, media, police, and lawyer…………………..

It has always helped to resolve the matter with banks, telecom companies, insurance companies,………………..which are otherwise known to be adamant, bossy……………….

It was difficult to achieve such levels of unity but it was possible and it has its own benefits.

Even the police is extra careful to perform its duty efficiently.

This has helped us to lower the burden of litigation which otherwise is inflicted on hapless customer.


Kindly look into one of the post, where  Mr. Rajeev has commented that:

“Today i have visited SBI with my complain then they told me they cannot help me in my matter .’

This is perturbing.

This BM/banker has offended the customer although the bank has provided him with the resource, means, and authority to redress the matter at his level only.

Had he done it on the spot, he would have saved the golden hours, which are crucial in such matters, and there would have been  no need for escalation too? Now someone else in the hierarchy would be doing it for the BM.

Extracts from RBI guidelines:

In order to handle surging volumes in a limited time window,some banks use name matching software, while a few others employ a risk-based approach based on the nature and value of transfer.”

“viii) The above notwithstanding, in cases where it is found that credit has been afforded to a wrong account, banks need to establish a robust, transparent and quick grievance redressal mechanism to reverse such credits and set right the mistake and / or return the transaction to the originating bank. This particularly needs to function very efficiently and pro-actively”

You would notice that RBI has not shied away from instructing the bank and banker also to put a mechanism in place to reject the transaction. Machine is installed to augment the human effort and not to provide an escape route.

If at all an error does happen the BM being head of the branch ( family of bankers and customers) is expected to move swiftly and redress the matter on the spot. It is part of his duty. In case put up by Mr. Rajeev, he has been running since the BM/banker has outright declined to act, help and guide too………………………………


The SBI and in particular the BM/Banker of SBI who has made above mentioned statement also needs to be confronted. Instead of soothing the customer with quick redressal and issuance of needful letter this banker has declined to act.

Although a good employee in private bank ICICI bank may take extra step (which seems to be most unlikely as it would need written confirmation from originating bank) and block the a/c of another customer in ICICI, would you agree that it might be reported as a transgression by customer and his superiors too for violating the set protocol in such matters?

The guidelines set by RBI is same for SBI and ICICI bank…………………………………and other banks.

There is no dearth of good and honest citizens. It is very much possible that the customer in ICICI bank oh his own intimate the ICICI bank for credit of monies which do not belong to him, and responds to the request to Mr. Rajeev.

Imagine a hypothetical situation: if the customer of the other banks (other than ICICI bank customer whose name is mentioned by Mr. Rajeev) withdraws the funds, closes the a/c and moves away.

The only option would be litigation: lengthy, costly, tiresome. Stressful……………….

In another case M/s HDFC bank bluntly announced it shall refund only if the drawer of the funds refunds it to the bank……………………………!!!

It is once again reiterated that this BM/banker could have saved the golden hours by acting on the spot, which was expected of him and which is his duty.



rajeev (director)     14 August 2013

Waiting for your help.....................

Advocate Sastry (Advocate)     15 August 2013

Dear Rajeev,

Try to speak to Branch Manager of ICICI Bank, through your best friend who is in ICICI Bank, Patna... This can help blocking the account  and prevent funds being withdrawn... I appreciate you are acting very fast and taking swift action even before our actual guidance... GOOD LUCK

Kumar Doab (FIN)     15 August 2013

Submit a carefully structured representation addressed to:

- BM of SBI with copies to his immediate superior, State Head, Grievance Redressal Head, Citizen Charter, Chairman, Nodal Officer, Head- personnel and HR, narrating all representations made so far, citing the declinature of BM to act, and provide you the necessary documentation for onward transmission to ICICI bank………………………………

Mention full details of the amounts transferred by you…………….

Demand that you should be supplied with copies of communications if any sent by this BM, to his superiors in the bank on the date you reported the matter and ICICI bank, and copies of communication sent later by this BM and other officials and the current status………….

This bank is under the purview of RTI.

You may also obtain the guidelines in such cases set by RBI.

Meet the superior and city head in local HO of the SBI with copies of your communication and demand an action on the spot. Let him send communications to all concerned, pick up phone provided by the bank and call concerned and resolve the matter on the spot.

Demand a letter/certificate so that you can carry it to ICICI bank in person.

-Local BM of ICICI bank, BM of ICICI Bank at Karnataka, MD, Escalation desk, Nodal Officer, etc……………………and request to block the amounts equivalent to as mentioned by you, and help.

Mention full details of the amounts transferred by you…………….

Refrain from mentioning the name, address, phone number of the a/c holder of ICICI bank as it may adversely affect the employees of this bank who have shared it with you.

Your friend in ICICI bank can guide you on it.

If the helpful staff in ICIC bank can block the withdrawal till you succeed in getting the requisite communication from M/s State bank of India, it shall be good for you.


After your matter is resolved thank the ICICI bank and its officials even if by email and proceed against this BM/banker in SBI. Ensure that the transgression is recorded in his personnel file and he is awarded with a penalty: major or minor .

Prasun Chandra Das (Banker)     22 August 2013

Dear Mr Rajeev,


Firstly, 3 facts - (1) The SBI Branch Manager has to accept your written complaint and take action and/or reply to you on it. He cannot dismiss a complaint by saying "nothing can be done".  (2) In reality, only the SBI BM/official (and no other person at the moment) can do something. If SBI writes to ICICI, ICICI will hold the disputed portion of the money, atleast for a few days. (3) There is a cardinal rule that in case of wrong credits to an a/c due to mistake by bank official etc, the bank can debit the a/c of the customer to make the transaction right without the consent of the a/c holder, only if the intimation of the credit has not been passed on to the customer. Practically, banks reverse such wrong credits unilaterally because the banks know that it will be hard for the customer to prove that he already had intimation of the credit after the credit and before the debit,


Secondly, as advised earlier, more particularly by Kumar Doab, please do not waste time any more time and submit a written application to your SBI BM, and mandatorily have it acknowledged. Also tell him that he will be personally liable for negligence if he does not act fast, since the matter is of grave importance. Also write to SBI Zonal/Central Office, and ICICI branch where wrong credit has gone to, and ICICI Central office, I am sure you will be able to find the addresses from the Internet.

Wish you the best - hope your money is recovered.

rajeev (director)     01 September 2013

Thanks a lot to all of above legal advisor and finally my money get reverted into my A/C.Special thanks to shastry sir.

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