How to get your money back when you transfer money by mistake

Many people panic when they mistakenly transfer money to another account, however the law has clear regulations on this issue to help those who mistakenly transfer money get their money back.

Nowadays, to ensure safety and speed, most people choose to transact through banks instead of direct transactions. However, sometimes due to negligence, the account owner transfers money to another account by mistake. What should be done in this case?

Contact the bank immediately

According to lawyer Nguyen Thanh Duy (Minh Man Law Firm, Ho Chi Minh City), if the customer transfers money to the wrong account, he/she must immediately contact the bank to notify the wrong beneficiary account. From there, the bank must check, review and immediately notify the bank in charge of the wrong account for handling according to regulations.

Lawyer Duy also added that Circular 23/2010/TT-NHNN regulating the management, operation and use of the Interbank Electronic Payment System has provided guidance on resolving errors at the order initiator (transferor).

Many people choose internet banking transactions.

Specifically, if the customer's account has sufficient balance, the bank will create a payment order to return the excess or mistakenly transferred amount to the account.

In case the customer's account does not have enough balance to recover, the receiving unit will record the Refund Request Log as the Unexecuted Payment Order and request the customer to deposit money into the account to execute this Refund Request.

If the customer is no longer able to pay or the customer is a transient whose place of residence is unknown, the receiving unit must coordinate with local authorities and law enforcement agencies such as the police, courts, etc. to find every way to recover the money.

Lawyer Duy concluded: "Thus, banks have the responsibility to coordinate to request account holders who mistakenly transferred money to return the mistakenly transferred amount upon request from the customer."

The person who mistakenly transferred money and does not return it may be prosecuted.

In case the mistakenly transferred amount has been withdrawn, used and the account owner does not agree to return the amount, the customer can sue the account owner at a competent Court to request the return of the above amount according to the provisions of Clause 1, Article 599 of the Civil Code:

“A person who possesses or uses another person's property without legal basis must return the property to the owner or legal possessor; if the owner or legal possessor cannot be found, the property must be handed over to a competent state agency...”

Bank transactions are more convenient than direct transactions.

In addition, if one intentionally possesses, uses, or fails to return the money to the person who transferred the money by mistake after receiving notification from the bank and the person who transferred the money by mistake, the person who intentionally possesses or illegally uses the above amount of money may also be prosecuted for illegal possession of property as prescribed in Article 141 of the Penal Code.

According to Thanh Nien