Criminal Trident Pack: IPC, CrPC and IEA by Sr. Adv. G.S Shukla and Adv. Raghav Arora
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A.A. Tandon (Software)     24 March 2022

Online payment to wrong beneficiary by mistake

Hi!

I was a customer of Opulentus until a few years back for their canada immigration services but I am not aspiring anymore. Since I was transacting with them until 2017/18 (don't remember exact date/year but it was around 4--5 yrs back), I had registered their bank account as payee in my ICICI bank account (because, I was paying to them online). Again, I am not transacting with them any more for the last 4 yrs or more.

On 31Jan2022, I made a payment of 20k INR to Opulentus account again by mistake from my ICICI iMobile app. I wanted to pay to my father (payee registered as Papa) but selected Opulentus by mistake (as payee list appear in alphabetical order, "Opulentus" was appearing just above "Papa", so I made a careless mistake).

I immediately notified Opulentus as well as bank on email. Bank took an application from me in writing to pursue my case and they connected on my behalf with Opulentus. As per the bank they contacted Opulentus multiple times in the last 1.5 months (over mail and phone both) but they are not giving debit consent. Now, according to bank they cannot withdraw and pay me back until Opulentus gives a consent. Also, as per the bank, Opulentus account is dormant and also that the bank has blocked the deposited money (so even Opulentus cannot use it)).

What can I do to get my 20k INR back? Are there legal ways to do it? I am sure Opulentus cannot just say no to my request when I have already mentioned that the payment was a mistake.

Sincerely

Tandon



Learning

 5 Replies

SIVARAMAPRASAD KAPPAGANTU (Retired Manager)     25 March 2022

In the event of a wrongful credit to an account through an online transaction, the banks seek the authorization of the Beneficiary to return the amount wrongly credited to such account.

 

Therefore, in your case, the Beneficiary of the remittance made by you (by mistake) needs to give a letter authorizing his bank to return that amount back to your bank and credit to your account.

 

Banks are not privy to the transactions between account holders of the same bank or different banks. Once an amount is credited to the account of a beneficiary the same shall become the funds of that particular account holder and banks have no authority to debit unilaterally the account to return the amount merely based on communication received from the remitter and/or remitting bank. It requires authorization of the beneficiary to whose account the amount was by mistake credited by the remitter.

A.A. Tandon (Software)     25 March 2022

I understand that bank's hands are tied and they cannot do anything. Also, I dont hold bank responsible in anyway based on the fact that they at least contacted Opulentus on my behalf.

However, is there a legal way to take the money back from Opulentus. What should I do next to get my money back? Or, should I consider it lost forever? Anyone could do human mistake like this, and would expect law to be on their side to recover it. Just because the mistake happened, doesnt mean the money belong to wrong beneficiary.

SIVARAMAPRASAD KAPPAGANTU (Retired Manager)     25 March 2022

Was there any dispute between you and the beneficiary Opulentus because of which they are not responding to the follow-up through your and their bankers too?

 

You may give a Registered Notice to them to refund the amount immediately followed by a legal notice. As per law no person/firm./company can enrich themselves by virtue of someone's mistake and cannot enjoy the funds that do not belong to them.

Palak batra   25 March 2022

Dear Querist,

 

If you have transferred the amount to the wrong account and the account details are invalid, your money will automatically return to your account.

 

But the account number is valid and the transaction is a success. You can request a reimbursement from your bank by informing them of the RBI guideline from October 2010. However, it depends on the recipient to provide permission for reversal of transaction.

 

In case of wrong transfer, inform your bank immediately that you have transferred the money to the wrong beneficiary account, call the customer care number. Make a note of the transaction's date and time, as well as your account number and the account to which the funds were mistakenly transferred. You might be asked to visit the branch.

 

Visit your bank branch, submit a written application of wrong transfer along with details. Attach the screenshot if necessary.

 

The bank will act as a facilitator and provide you with details of the bank and branch of the account where the money has been transferred. If it is in the same bank, you can check with the recipient directly and ask for a reversal.

 

Regards,

Palak

A.A. Tandon (Software)     31 March 2022

There was no dispute. I am thinking of visiting their branch first and informing them in person.


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