Advice on transfer errors
August 1, 2022 | 30,00 EUR | answered by Karl Böhm
Dear Lawyer,
I am reaching out to you as I urgently need help regarding a transfer error that recently occurred to me. My name is Emil Klinger and I am a customer of XYZ Bank. A few days ago, I made a transfer of 500 euros to a friend. Unfortunately, I made a mistake and entered the wrong account number. As a result, the money was transferred to the wrong account.
I have already contacted my bank to correct the error. However, I have not received a satisfactory solution so far. My money has still not arrived in my account or the recipient's account. I am very worried that the money is lost and that I will be held responsible.
My question to you as an expert in banking law is what steps I should take now to correct the transfer error and retrieve my money. Are there legal options to force the bank to reverse the transfer? Or do I need to potentially take legal action against the recipient of the money?
I hope for your competent advice and support in this matter. Thank you in advance.
Sincerely,
Emil Klinger
Dear Mr. Klinger,
Thank you for your inquiry regarding the transfer error you recently experienced. It is understandable that you are concerned, especially if the money has not yet arrived in your account or the recipient's account. In such cases, it is important to act quickly and take the right steps to correct the error and retrieve your money.
First of all, it is positive that you have already contacted your bank to report the error. Typically, the bank should be able to correct the error and reverse the transfer. However, depending on the bank and individual situation, it may take different amounts of time for the transfer to be actually reversed.
If your bank is unable to correct the error or refuses to help you, there are legal options available to force the bank to reverse the transfer. In banking law, there are certain legal regulations that protect consumers and require banks to correct errors in transfers.
In your case, it may be advisable to consult a lawyer specializing in banking law. An experienced lawyer can help you enforce your rights and initiate legal action against the bank if they refuse to correct the error.
Regarding the recipient of the money, it is important to note that legally, they are not obligated to refund the money if they received it mistakenly. However, in some cases, it may be advisable to also take legal action against the recipient to retrieve your money.
Overall, it is advisable to seek professional legal advice in this matter to ensure that your interests are protected and you retrieve your money. If you have any further questions or need my assistance, I am at your disposal.
Yours sincerely,
Karl Böhm
Lawyer specializing in banking law
