How to Request Money Transferred to Another Bank

When you find yourself in the unfortunate situation where you've mistakenly transferred money to another bank, there are steps you can take to address the issue. This guide will walk you through the process of requesting the money back from that bank, as well as explain why it's ultimately up to the recipient to make the transfer back to you.

What You Need for the Request

To officially request the return of the money, you will need to prepare a check. Follow these steps to create the necessary documentation:

1. Prepare a Check

Follow these guidelines to ensure your check is properly formatted:

Use a specialized 3-inches by about 6-inches check-sized paper. Obtain the paper from the bank where you transacted the funds. Ensure the paper is printed on safety paper or can have decorative elements like pictures of puppies or butterflies.

2. Fill Out the Check Properly

Next, fill out the check as follows:

At the upper right, provide the current date. On the left side at the top, write your name. Below your name, to the right, write “pay to the order of” followed by the recipient's name. Next, fill in the dollar amount of the transfer in both written and numeric form. At the lower right, sign your name. On the back of the check, again sign and attach a deposit slip for the transfer amount.

3. Present the Check to the Bank

Take the completed check to the bank where you initiated the original transaction. Present the check to a teller:

The teller will process your check and provide you with a receipt.

Note: It's called a check, no matter what you may have heard!

What Happens If the Transfer Was Fraudulent?

When a transfer is fraudulent, the bank is typically unable to intervene. Here’s why:

The money has already left your account and is no longer in the bank's hands. The bank will not have access to the recipient's bank account to retrieve the funds. Requesting the recipient to return the money may be necessary unless there was a contractual agreement involved.

Why the Recipient Should Make the Transfer Back to You

Transferring money requires the action of the recipient. The bank that performed the original transaction cannot reverse the money transfer. Here are a few reasons why:

The bank that initiated the transfer does not have access to the recipient's account. You provided the instructions, and the bank followed them as requested. To recover the funds, you will need to contact the recipient and ask them to make a new transfer.

Conclusion

While it can be frustrating to deal with a mistaken bank transfer, understanding the process can help you address the situation more effectively. By preparing the necessary check and following up with the recipient, you can have a better chance of recovering your funds. Remember, the process involves collaboration between you and the recipient to ensure the money is returned to your account.