How to Recover Erroneous transferred fund
Erroneous transfer means when you send a large sum of money to the wrong account, and recovering such funds can be a little bit difficult if you don’t go through the right channel. This mistake is mostly done by pos agents and has made most of them run into debt.
Steps on how to recover erroneously transferred fund
- Visit your bank: if you use your personal account to make such transactions, the first thing you need to do is to visit your bank and make complain about the transaction.
- Contact support: this option is applicable to pos agents, whenever such occurs message the support, given them the details of the transaction
- Get police report: after visiting the bank you would be requested to get police report if it involves large sum of money, the police report will enable the bank to put a Lien on the account to stop the money from being transferred to another account
- Court order: this will give the bank full access to restrict the account owner from moving the money to another account
After all, this has been done and the money is still intact in the bank account, the bank will have to message the receiver’s bank for cash reversal. And if it is from a pos, the pos company will have to message the bank for money reversal