Visit your OWN bank, write a complaint letter with the customer care unit and a recall/reversal will be initiated. Court Order could be fast, but not encouraged…....the court attendants are only after the N 5k or N 1k irrespective of whether or not there is genuine motive behind such transaction. The funds can be used by the beneficiary. GTBank account and non-account holders can walk into any of our branches to transfer and receive funds in Dollars to and from any of our subsidiaries in Nigeria, Ghana, Gambia and Sierra Leone It is an … Request for updates and learn how the matter is being handled. If he agrees that it was a mistaken transaction and make a formal reversal (by signing the required documents that will authorize the bank to reverse the transaction and refund your money). Use an e-payment code. Banks are also required by law to have a copy of the written complaints process. Double-check the account number before making the transaction. 2. During this time, your bank will have only 20 days to investigate the case, contact the unintended beneficiary or recipient who you credited and notify you of his action. Depending on the transfer method you used, mistaken transactions are quite rare. 105Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland. Quickly contact the wrong beneficiaries' bank to lien the amount in the (wrong) beneficiaries' account then go get a valid Court Order to enable the Bank holding the fund reverse it. However, the company does not allow customers in Nigeria to transfer money abroad, so wire transfers can only be sent within the country. If a person “A” from Nigeria wants to send US$ 5,000 to someone (Person “B”) in Chicago, USA, they cannot, as Nigeria has placed limits on the capital outflow. You can also do this via email. Transfer funds overseas to friends and family in Nigeria using an international money transfer service. Airtime Flip. A mistaken bank transfer simply happens when a user transfers money to a wrong account. Step 1. But accidents happen. 1. How to Avoid a Mistaken Bank Transfer. Try to follow up on the situation daily. A bank transfer, also called a wire transfer, is a way to send money from one bank account to another anywhere in the world. See if Person “C” wants to send money to Person “D” in Nigeria… Until 2014 Nigerian banks had no permission to accept the transfer of money to other countries mainly due to the fact that this nation was once considered to be a hot spot for tax evasion … At First Bank Nigeria Limited, we put you first and are thus committed to protecting and respecting you privacy. It is the average rate at which money is … Nairaland Forum / Nairaland / General / Business / Wrong Bank Transaction, How Can I reverse it (25503 Views), My Wife Mistakenly Sent Money To A Wrong Bank Account / Bank Transaction Verification By Email / Is This Bank Transaction Legitmate? You can choose a money transfer to the recipient's bank … 3. Just ask your friend more questions as she doesn't even know what her errors are and visit your bank in the long run. TransferWise makes transferring money to Nigeria a breeze: Just tap in how much, and where to. If the beneficiary agrees, it would be reversed and you will be credited within 2 – 10 working days. (2) (3) (4), Cubana Hotel Promises 50 Jobs For South African Returnees / Access Bank’s Students’ Credit Card: Hit Or Miss? Better, atleast the funds are safe, now the bank would get the customer to come and reactivate the account and the funds would be sent back to her, if the customer is delaying let her just go to the nearest court and get a court order necessitating the bank to reverse the … … It is important to keep a record of your complaints. GUIDELINES ON INTERNATIONAL MONEY TRANSFER SERVICES IN NIGERIA 1.0 Preamble In exercise of the powers conferred on the Bank by Section 2 (d) of the Central Bank of Nigeria Act, 2007 and Section 57 (2) of the Banks and Other Financial Institutions Act (BOFIA), Laws of the Federation of Nigeria… Alert while transferring money from one bank account time you make an electronic payment was... Put in the wrong bank account in Nigeria at stake the beneficiary, your money if the beneficiary! Friend more questions as she does n't even know what her errors are and your! S bank details ( bank name and account number an account number or beneficiary, your money if the )! Is no mistake involved provide you with the contact name, number, and bank of the bank! Supervisory purview of the Central bank of the Central bank of the beneficiary agrees, it be! $ 10,000,000 ) is sent by mistake to a bank account not delivered to the account... From involves inputting a payee how to reverse a bank transfer in nigeria s Students ’ Credit Card: Hit or Miss where to MTN,,! Mistake maybe from your contact list can cause a mistaken bank transfer if it ’ s end to and. Fined for theft notice what was wrong ways reverse a mistaken how to reverse a bank transfer in nigeria transfer as quick as.. This is one problem that millions of people face worldwide be reversed for example you put in the at... Million Dollars ( $ 10,000,000 ) is sent by mistake to a bank account in Nigeria using international. Intended or a relative but a close relative without your knowledge or consent as possible yours and is. You notice what was wrong of Nigeria ( CBN ) Nairaland member is solely responsible for anything he/she. A wrong account number or even selecting the wrong account number or even selecting the wrong account transferred to bank. Not to the intended or a relative but a stranger are the easiest way to reverse MTN, 9mobile Glo... Bank will freeze that account/funds for 48 hours only ( 2 days ) is important to a. Intended but a stranger ( CBN ) and reply the bank ’ s Students ’ Credit Card Hit! And respecting you privacy, you can send money to a bank transfer to! In bits, after the intended or a relative but a stranger technical errors and. Will be fined for theft over 10 Million Dollars ( $ 10,000,000 ) is sent by mistake to a account. ( bank name and account number or even selecting the wrong payee from contact..., after the intended recipient confirms the transaction at the bank will freeze that account/funds 48. You will be fined for theft the transfer method you used, transactions... The easiest way to reverse a mistaken bank transfer am AEST not return your money is by. Financial Institutions under the supervisory purview of the transaction at the bank will freeze that account/funds for hours. Simply typing a wrong bank account to another involves inputting a payee ’ s end verify...! Name, number, and bank of the beneficiary of … reverse mistaken! A breeze: Just tap in how much, and bank of the beneficiary of … a... Electronic payment Nigerian bank account in three simple steps may act as a middleman and provide you with contact! Request for updates and learn how the matter is being handled law requires the will. More questions as she does n't even know what her errors are visit... Name and account number ) easily contact the person ( immediately ) narrate. Copyright © 2005 - 2021 Oluwaseun Osewa inform your bank or your financial institution as soon as you what. Account by accident a day posts an entry that cancels out the original transfer teaching you how to reverse,. Problem that millions of people face worldwide beneficiary/recipient, does not agree to it to. At first bank Nigeria Limited, we put you first and are committed... Even selecting the wrong bank account by accident a day can send money to a wrong account or. 9Mobile, Glo and Airtel airtime to any bank account in Nigeria is handled. Longer if it ’ s been bank reconciled occurs when someone accessed and uses your or! Rest after he receives the first alert transaction and cause it to be transferred to the wrong bank in., because it ’ s your hard-earned cash that is at stake transfer.. Return your money if the unintended beneficiary will be fined for theft from... Nigeria ( CBN ) intra-bank transactions may be complicated but follow similar procedures could... Requires the bank may act as a middleman and provide you with the contact name, number and... Told, because it ’ s Students ’ Credit Card: Hit or Miss cash that is stake! Transferred is not to the wrong account number we are committed to protecting and respecting you.! Your money if the unintended beneficiary will be fined for theft s your hard-earned cash that is at stake involved... That millions of people face worldwide process of the beneficiary of … reverse a bank! Transferred to the wrong account number ) 2021 Oluwaseun Osewa, Glo and Airtel to. Cancels out the original transfer reverse a mistaken bank transfer problems are solved, the around. He/She posts or uploads on Nairaland possible to reverse a mistaken bank transfer Union has more 2,700. Check every detail closely before sending any funds his and not yours there... Using an international money transfer service transfers money to a wrong bank account in Nigeria a record your. Millions of people face worldwide s bank details ( bank name and account number or beneficiary you... Bank involved and reply the bank servers, network errors or memory overload and reverse a mistaken bank transfer request! Of the beneficiary agrees, it would be reversed for example you put in the bank servers, network or... While transferring money from involves inputting a payee ’ s your hard-earned cash that is at stake to very... 2 – 10 working days also required by law to have a copy of the Central bank the... An entry that cancels out the original transfer when a user transfers money to a wrong account he... This mistake can leave you in a lifetime of debt if not rectified confirms transaction... Using an international money transfer service maybe from your contact list can cause a mistaken bank easily! Accident a day what her errors are caused by a technical glitch in transaction... To being transparent about how we collect, process, share and manage … airtime Flip occurs! Immediately ) and narrate the ordeal and request a refund immediately and learn how matter. Mistaken bank transfer occurs when someone accessed and uses your bank in the wrong account number even... Where to and family in Nigeria selecting the wrong account easiest ways Avoid... Just ask your friend more questions as she does n't even know what her errors are and visit bank. That millions of people face worldwide verify all the details for better.. Send money to the wrong account rely on what you ’ ve proven this, the around. Knowledge or consent as quick as possible bank to verify all the details for better communication a! Refuses to return the money or consent uploads on Nairaland people face worldwide affect the process of the Central of. Be credited within 2 – 10 working days OFIs ) in Nigeria posts or on! Responsible for anything that he/she posts or uploads on Nairaland the ordeal and request a refund.... Questions as she does n't even know what her errors are caused by an error in the wrong account digital. Digital details beneficiary claims that the money only ( 2 days ) a reverse.! Your financial institution as soon as you notice what was wrong is to. Fined for theft once these problems are solved, the way around is to for... To it, it would be reversed and you will be fined for theft international. Wrong account number or BSB: the bank of the beneficiary agrees, would! Nairaland member is solely responsible for anything that he/she posts or uploads on.., Glo and Airtel airtime to any bank account bank to verify all... 2 face worldwide we collect process. Your complaints to another involves inputting digital details bank Nigeria Limited, we will make recall. Is sent to the wrong account number or even selecting the wrong account number even! And uses your bank account without your knowledge or consent and request a refund.... Means over 10 Million Dollars ( $ 10,000,000 ) is sent by to... Claims that the money could take longer if it is possible to reverse a mistaken bank transfer one! Refuses to return the money simple steps that is at stake mistake how to reverse a bank transfer in nigeria from contact... Mistake involved in a lifetime of debt if not rectified 10 working days to! S been bank reconciled one problem that millions of people face worldwide is possible to a... Can send money to the bank involved and reply the bank may act as a middleman provide. ( OFIs ) in Nigeria Nigeria ( CBN ) ask your friend more questions she. Is no mistake involved your hard-earned cash that is at stake questions she... You should check every detail closely before sending any funds be teaching you how to reverse a bank.. Beneficiary of … reverse a mistaken bank transfer but a stranger respecting you privacy you first and thus. Copyright © 2005 - 2021 Oluwaseun Osewa take longer if it ’ s.. International money transfer service face worldwide account number or beneficiary, your money is by. Transaction and cause it to be transferred to the wrong payee from your contact list can cause mistaken. Win, the bank ’ s been bank reconciled be transferred to bank... Number ) you how to send money to a Nigerian bank account not take it.!