Bank Rules Amount Been Credited to Your Account By Mistake Know these Rules Before Spending

Wrongful Credit: What happens if you suddenly get Rs 1,00,000 instead of Rs 1000 in your account. Usually people are surprised and happiness. But before spending it, the information given in this news can save you from some big trouble.

Many times the money goes to someone else’s account when there is a disturbance in any one digit while writing an account number while writing an account number while transferring money or while transferring money. Such mistake in the banking system is called ‘Wrongful Credit’. Many times it happens that we make a plan to spend the money in the account by considering the money made by mistake, while it has some special rules.

Give information about transaction immediately to the bank

According to the Indian banking law, if the money has come to your account by mistake, then it does not mean that you are entitled to it, but the money will be considered the same, which it is actually. You cannot claim that amount. It is illegal to do so. The bank can reverse that money anytime. In such a situation, instead of spending it out, inform the bank immediately. If you want, go to the phone, email or branch yourself and give the details of that transaction to the bank.

The bank investigates this way

For such cases, banks have an internal protocol, through which it is investigated to accidentally go to whose account. On finding out that money has come to your account and you have spent it, you can legally get stuck and if you refuse to return the money, the bank can freeze your account.

There may be punishment for jail

Not only this, a case of fraud can be registered against you and may also have to go to jail. Yes, according to Section 403 of the Indian Penal Code, wrongly using someone else’s property is ‘Disonest Misappropiation of Property’. It may have two years of jail or fine or both. In such a situation, try to reverse the bank, you should give information to the bank before that or cooperate with the bank in this process.

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