It notifies the wrong recipient about the accidental transfer and requests to reverse the transaction at the earliest. What if the bank makes the wrong transfer?Īccording to bankers, the bank immediately begins their SOP (standard operating procedure) in such cases.Despite all this, there are rare cases where accidental money transfers happen either due to a bank’s error (such as what happened with Citibank) or on the part of customer. The sender is issued an acknowledgment receipt once the transfer is done. Finally, the amount to be wired is cross-checked before initiating the transaction. These include the account numbers, IFSC Codes. Unlocking opportunities in Metal and MiningĪs Citibank retreats, new MNCs extend their reach.Commodity Ki Paathshala Pharma Industry Conclave.India Inc On The Move Sustainability 100+.Interview Series Business In The Week Ahead.
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