What can I do if I transferred money to a bank account by mistake?

Bank transfers are an efficient and fast way to send funds to another person or entity. This process requires that you have the correct account number of the recipient to ensure that the money reaches the right person. However, in times of trouble or disorder, it is possible to commit errors when entering numberswhich may result in funds being transferred to the wrong account.

Although banking systems have security filters that allow you to verify the operation and confirm the recipient’s name before completing the transaction, many people overlook these steps. This can lead to transfer automatically without paying enough attention.

Can a bank transfer be canceled?

In a previous interview granted by the Superintendency of Banking, Insurance and AFP (SBS) to La República, the entity pointed out that it is not possible cancel a bank transfer if an error has been made in the recipient.

This is because the transferred funds become part of the other person’s assets, becoming intangible. Only in exceptional circumstances, such as in cases of fraud, could the transfer be cancelled, as long as there is a contract between the client and the entity that contemplates such a situation.

This you can do if you make a mistake in a transfer

Ana Reátegui, professor of Finance at ESAN Graduate School of Business, recommends that the first thing to do in case of an erroneous transfer is to contact the bank and request the money back. The bank will contact the recipient and begin a refund process, which may be extensive.

This also applies in situations of duplicate payment for a service. However the bank You will have to confirm that there was an error, and it will be the user who will have to initiate the procedure. Since the transfer is a voluntary action, it cannot be reversed because the bank He has not made any mistakes, as explained in a previous interview with this medium.

Verify that the account number you deposit to is correct

Remember that when making a bank transfer it is essential to enter the correct account number. How can you get it? Request this information directly from the recipient, along with their full name or, if it is a company, its official name.

This way you can avoid making mistakes when making a bank transfer

The first thing you need is the recipient’s account number. Once you have this information, open your app. bank, enter the account number and verify that the owner’s name is correct. To keep the recipient informed about the transaction, send them a screenshot as confirmation.