Sent Money to the Wrong Bank Account? Do these 5 things IMMEDIATELY

Mistakenly sending money to the wrong account can happen to anyone. It’s as easy as typing one wrong digit or selecting the wrong saved beneficiary. The first thing to do is stay calm, but what we usually do is shout “Jesus!!!” or “Ye”!, and that’s okay, you hustled for your money.

The next step is to try to contact the person. You are in luck if they use an Opay or Palmpay account. You can call them and appeal to their conscience to send the funds back. Some people will return the money once they realize it was sent in error.

However, if the person refuses to respond, ignores you, or you simply can’t reach them, try not to panic. There are established legal and banking procedures in Nigeria that can help you recover your money. Just follow these steps carefully to improve your chances of getting your funds back.

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How to Recover Money Sent to the Wrong Account

Step 1: Visit The Bank and Lodge a Formal Complaint

Immediately after discovering the error, go to the bank where the money was sent to lodge a formal complaint. You will be required to provide proof of the mistaken transfer, such as your transfer receipt, account statement, or transaction ID.

Then the bank will advise you to obtain a court order before the money can be reversed, especially if the recipient doesn’t voluntarily return it.

Step 2: File Your Case in Court

Next, you’ll need to go to court to obtain an official order authorizing the bank to reverse the funds. You can file your case at either a Magistrate Court or a High Court, depending on the amount involved:

For ₦5 million or less, the Magistrate Court is appropriate — it’s faster and cheaper.
For amounts above ₦5 million, go to the High Court.

The defendants (also called respondents) in your case will be:

The wrong beneficiary, and
The receiving bank (not your own bank).

Step 3: Ask the Court to Direct the Bank to Reverse the Funds

When filing your case, ask the court to order the receiving bank to reverse the money you mistakenly sent to the wrong account. It’s also helpful to include your correct account number in the request to make it easier for the bank to credit you once the reversal is approved.

You can also ask the court to direct the bank and the Central Bank of Nigeria (CBN) to restrict all other accounts linked to the beneficiary’s Bank Verification Number (BVN). This prevents the person from transferring or hiding the money in another account before your case is resolved.

Step 4: Submit the Court Order to the Bank

Once the court grants your request, collect the certified true copy of the court order and submit it to the receiving bank (the one holding the wrong account). The bank’s legal department will verify and authenticate the court order. This process can take up to a week, depending on the court’s location.

Pro tip: Always get the court order from a court near the bank branch where you’ll be submitting it. For example, if you’re submitting to a First Bank branch in Ondo, don’t obtain your order from a court in Lagos. The bank’s legal team will need to physically verify it at the issuing court, which can cause serious delays.

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Step 5: Follow Up and Monitor the Process

Once verification is complete, the bank will reverse the funds to your account. However, if the recipient has already withdrawn part or all of the money, the bank will notify you of the remaining recoverable balance.

If the beneficiary has spent the money, you can return to court to apply for a lien to be placed on their BVN, allowing the bank to recover funds from any other accounts the person owns — whether at traditional banks or fintech platforms like Opay or PalmPay.

Persistence is key in this instance. Even if it takes time, the wrong beneficiary now carries a debit balance, meaning the debt remains until it is settled.

Additional Information

Cost of obtaining a court order:

The amount you’ll pay varies depending on the court and the state, but it’s usually around 10% of the money you’re trying to recover. If the recipient used multiple accounts, your lawyer can request that the order cover the BVN, ensuring that funds can be retrieved from all linked accounts until your full amount is recovered.

Bank policies:

Some banks, such as Access Bank, automatically place a Post No Debit (PND) on the beneficiary’s account once served with a court order. This prevents any withdrawals until the reversal is completed.

Beware of counter orders:

If the money was actually for a legitimate payment, such as goods or services, the recipient may go to court and obtain a counter order to stop your reversal. So only follow this process if you’re certain the transfer was truly accidental.

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FAQs on Recovering Money Sent to the Wrong Account

1. Which bank should I serve the court order — my bank or the receiver’s bank?

Serve it to the receiving bank, since that’s where the wrong account is held.

2. Can one court order cover multiple accounts?

Yes, if all accounts belong to the same person and are linked to the same BVN.

3. What if the person no longer uses the account?

The bank will trace their BVN and place a lien on their other accounts.

4. How long does the process take?

Usually, it takes between one and four weeks, depending on the court and bank.

5. What if the court is in another state?

Avoid that, it slows verification. Always get the order near the bank branch.

6. What if the amount is below ₦5 million?

Use a Magistrate Court, it’s faster and cheaper than the High Court.

7. Can I recover the money if it has been spent?

Yes. Once a lien is placed on the person’s BVN, any future inflows to their accounts can be used to repay your funds.

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