Sending money through IMPS is very fast and convenient. But sometimes, due to a small mistake in account number or IFSC, money may go to the wrong person. Many people panic in this situation, but the good news is that recovery is possible if you act quickly.
In this article, we will explain everything in very simple words with a real example related to YES Bank.
Real-Life Example: Abhijit Singh’s Situation
Abhijit Singh had a savings account in YES Bank. One day, he wanted to transfer ₹25,000 urgently to his friend using IMPS. Unfortunately, he entered the wrong account number by mistake, and the money was credited to someone else who had an account in ICICI Bank.
As soon as he realised the mistake, Abhijit got worried and visited the nearest ICICI Bank branch. However, the bank staff informed him:
“Since you sent the money from YES Bank, only YES Bank can raise the request for reversal. You need to contact your bank first.”
This is the correct process as per banking rules in India.
What You Should Do Immediately (Very Important)
If you have wrongly sent IMPS from YES Bank, follow these steps quickly:
Step 1 — Contact YES Bank Immediately
Call customer care or send an email to report the wrong transaction.
Customer Care Email:
yestouch@yesbank.in
Helpline Number:
1800 1200
Provide these details:
Your name and account number
IMPS transaction reference number (UTR)
Date and amount
Wrong beneficiary account details
Screenshot or statement proof
Ask them clearly to initiate an IMPS recall request.
Step 2 — YES Bank Will Contact the Other Bank
After you raise the complaint, YES Bank will officially contact the beneficiary bank (ICICI Bank in Abhijit’s case). The beneficiary bank will then approach the person who received the money.
There are two possibilities:
✅ Receiver agrees → Money will be refunded to you
❌ Receiver refuses → Further action may be required (legal or police complaint)
Step 3 — Escalate if There Is No Response
If you do not get proper help within a few days, you can escalate the complaint to higher authorities in YES Bank:
Grievance Email:
head.grievanceredressal@yesbank.in
Principal Nodal Officer:
principal.nodalofficer@yesbank.in
Important Banking Rule You Must Know
Many people think they should contact the other bank directly. But this is not correct.
✔ Always contact your own bank first
✔ Only your bank can initiate reversal request
✔ Visiting the other bank branch usually does not solve the issue
When Money Recovery Is Possible
Recovery chances are higher when:
You report the issue within 24 hours
Beneficiary account is active
Receiver cooperates with the bank
Amount is still available in the account
What If the Receiver Does Not Return the Money?
If the person refuses to return the money, you can:
File a written complaint with your bank
Lodge a police complaint for wrongful gain
File a complaint with Reserve Bank of India through RBI CMS portal if the bank does not support properly within 30 days
Tips to Avoid IMPS Mistakes in Future
Always verify account number twice
Send ₹1 test payment before large amount
Check beneficiary name before confirming
Avoid hurry while doing transactions
Conclusion
Sending money to the wrong account from YES Bank can be stressful, but recovery is possible if you act quickly and follow the correct process. The most important step is to immediately inform YES Bank and request a recall.
Abhijit Singh was able to start the recovery process because he reported the issue without delay. So, quick action is the key.
