Simple Private Money System Execution' title='Simple Private Money System Execution' />Get Instant Praxis II Access Right Now Youre satisfied and pass or your easy, no hassle 100 money back guarantee.Its time to say goodbye Microsoft is ending official support for Windows XP on April 8 2014.Are you at risk If you are still running this ancient operating system.VOLUME 8 ISSUE 2 LEGAL UPDATE When a Court Appearance becomes Necessary Military Personnel Lease Execution Procedures.MILITARY PERSONNEL.Wrong NEFT Transactions Now What It is not as simple as it sounds.We all use online banking for transfer of funds and usually the method that most of use is NEFT.However convenient it is, what would you do if the money is transferred to a wrong account or you have received the money from a Wrong Account NEFT or National Electronic Fund Transfer is used for transferring funds online from one account to another, anywhere in India.It is convenient mode of fund transfer and most of the recipients receive the money in a day or two.There is however a nominal transfer fee in case of transaction from one bank to another while same bank transactions are often free of cost.Anyway, it is a good tool, granted, but there are problems with it too.What if the money is transferred to a wrong account Or what if one day you find some amount transferred to your account by mistake Let us see below why is it complicated in these cases.How NEFT Works NEFT works on the principal wherein the payee or the remitter is the one who chooses the beneficiary or the receiver of the payment.In other words the onus of entering the right payee details is onto the sender or the remitter, so in case you are transferring the amount to someone, you are solely responsible for making sure the payeebeneficiary details are accurate and error free.To this end banks require these following compulsory details from the remitter while adding a payee for NEFT transaction Beneficiary Name account holders nameBeneficiary Address in shortBeneficiary Bank Beneficiary IFCS code Beneficiary Account Number Beneficiary Account Type Most banks will need you to add the Beneficiary Account Number twice to make sure that there are no errors in it.Also the entire details will be display on a page for you to cross check again, before you submit the information and confirm the same via an OTP and your internet banking transaction password. Play Escape From Camp Crystal Lake Hacked Free . Realtek Rtl8111c Ethernet Driver Download '>Realtek Rtl8111c Ethernet Driver Download .These steps are taken to make sure that the entire set of information is error free.The authentication is done with your knowledge and once confirmed you will receive an SMS on your registered mobile number that you have Added X with the Account number xxxxxxxxxxxx as a beneficiary for NEFT transactions to your bank account xxxxxxxxx.All of the above tries to make sure that the NEFT transaction is error free and smooth and also the person adding the beneficiary is fully aware of the fact that a payee is added to their net banking accounts.In case there is any problem you can go ahead and delete the payee or if you have not added the payee, then you should contact the customer care of the bank immediately to intimate them of unauthorised usage of your online banking account.In case of the Amount transferred via NEFT credited to a Wrong Account As mentioned above, NEFT transaction information is verified and then the payee is added, giving the remitter enough opportunities to cross check the payment details.In such a case the onus is onto you, the person making the transaction to make sure it is error free from Wrong Account Numbers or IFSC code etc.Even after thoroughly checking and overlooking mistakes if you happen to transfer the funds to a wrong payeebeneficiary that you did not intend to but happened due to you entering a wrong account number, then the option you have is to contact your bank and inform them about the transaction.Your bank will first check for any technical error on their side during the online transaction that resulted in such an error.Once that is ruled out they will contact the beneficiary bank about the transaction and they will in turn contact the beneficiary who wrongly received the funds.Tricky Part Now once the payee is notified about the wrong transaction, it is up to himher to authorize the bank to reverse the entry and transfer the money back to you.If they choose to keep the money and state that the money is transferred to them and belongs to them refusing to return it you can be looking at a long process of proving that the account number you added was wrongly entered by mistake.The usual case where such a thing happens is if the Account Holders Name is the same but there is a slight mistake in Account Number.For instance Mr.Amit Bachhan with Account number 4.Mr.
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