Neft Transfers sent to Wrong Recipient

#1
Hi,

I wanted to transfer funds from my new Citibank account to my regular account in Axis Bank. When I created the payee I added the wrong account number (one digit got mixed up). But I did add the IFSC code of Pune where I hold my account with my name as beneficiary name.

Now the transfer is initiated from Citibank to Axis and Axis bank actually went ahead and pushed the money into the wrong account. In this case the wrong account holder’s name is different from mine and also his IFSC code is not of Pune. So even when the other 2 important details – IFSC code and Beneficiary name did not match my money went to the wrong account.

I am very upset with Axis Bank’s functioning. Is there a way that I can take any action against the Axis Bank folks for their error on their part. When I approached the Nodal officers they pointed me to reach out to remitting bank for reversal of the transfers.

When I approached the Citibank they say they can not assist me with reversal of any such transfers since they acted basis on my instructions and simple took the data to process the transfer. How can they not have internal maker-checker process?

I want both the Axis Bank and Citibank held accountable for their misses during these 3 transfers. I am also going to file a banking ombudsman case against both the bank for their deficiencies in their banking norms.

Thanks & Regards,
Abhishek Alladi.
 

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