Case law & statutory law on recovery of money that’s been accidentally transferred to the wrong bank account?

As titled.
My mate has accidentally transferred some money into a wrong bank account, how can he recover the money ?

What are the procedures, case laws & statutory laws relating to this? (Australian is the first preference since we are in Australia)

## The receiving bank account holder’s identity is unknown. ##

Are we able to just get a Magistrate’s Court Order served on the receiver’s bank to reveal his/her identity so that we can proceed with our case?

You dont need case law or statutory law. You need to contact your mates bank. Tell them you accidently transferred to an incorrect bank account number, and that you need to recover the funds. If, in like one in a million chances, it got transferred to a legitimate bank account (on most occasions the funds will automatically be credited back to your mates bank account, because if your mate just ccidently put in, for example, a 1 instead of a 7 when transferring the funds, then it is really unlikely thats a legit bank account).

If it gets returned because there was no legit bank account for it to be transferred to, then it will take 5-7 working days, unless it was intrabank (ie Commonwealth to Commonwealth) in which case it would be overnight.

If if isnt returned, then your first step is to call the bank who you transferred to. Ie, if it was a Westpac account, call Westpac. When you speak to someone, tell them you need to verify a bank account number – they cant tell you the persons name, but they can verify if it is a real active bank account.

If it is, then call your bank. Tell them the mistake, and ask them to recover the funds. The Operations Processing Centre will then trace the transfer, and do it all for you. If the person has spent the money, they will be required to pay it back.

Its not a legal thing, its a bank thing. The legal stuff comes in if the person didnt report their windfall to the bank and spent it. Because thats stealing (i could get you the case law for this stuff, but you shouldnt need it. Basically, if someone ‘finds’ something, ie they have ‘found’ the money in their bank account, then they have a responsibility to report it and ‘hand it in’ if they reasonably believe they will be able to find the person who owns it.)

Post Author: mark

2 thoughts on “Case law & statutory law on recovery of money that’s been accidentally transferred to the wrong bank account?

    indian tiger

    (February 6, 2010 - 8:34 am)

    GENOCIDE IN SRILANKA..
    MORE THAN 1 LAKHS PEOPLE WERE KILLED BY THE GOVERNMENT WITHIN 1 YEAR (2008-MAY2009)

    IN SRILANKA, In Kalimoddai and Sirukandal camps in Mannar district, established more than a year ago, some TAMIL residents have been granted permission to leave the camp for short periods during the day. In these camps, they have to register with the military twice a day. Human Rights Watch has received reports that if a person fails or is late to register, the military may apply punitive measures, such as forcing the TAMIL person to stand still under the sun for a period of time or to perform manual lab……..
    the government wants to destroy the identity of north-eastern parts as TAMIL LAND
    References :

    Pip

    (February 6, 2010 - 9:05 am)

    You dont need case law or statutory law. You need to contact your mates bank. Tell them you accidently transferred to an incorrect bank account number, and that you need to recover the funds. If, in like one in a million chances, it got transferred to a legitimate bank account (on most occasions the funds will automatically be credited back to your mates bank account, because if your mate just ccidently put in, for example, a 1 instead of a 7 when transferring the funds, then it is really unlikely thats a legit bank account).

    If it gets returned because there was no legit bank account for it to be transferred to, then it will take 5-7 working days, unless it was intrabank (ie Commonwealth to Commonwealth) in which case it would be overnight.

    If if isnt returned, then your first step is to call the bank who you transferred to. Ie, if it was a Westpac account, call Westpac. When you speak to someone, tell them you need to verify a bank account number – they cant tell you the persons name, but they can verify if it is a real active bank account.

    If it is, then call your bank. Tell them the mistake, and ask them to recover the funds. The Operations Processing Centre will then trace the transfer, and do it all for you. If the person has spent the money, they will be required to pay it back.

    Its not a legal thing, its a bank thing. The legal stuff comes in if the person didnt report their windfall to the bank and spent it. Because thats stealing (i could get you the case law for this stuff, but you shouldnt need it. Basically, if someone ‘finds’ something, ie they have ‘found’ the money in their bank account, then they have a responsibility to report it and ‘hand it in’ if they reasonably believe they will be able to find the person who owns it.)
    References :
    Work at bank, law student,

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