How To Reverse A Wrong Bank Transfer, How to Reverse a Wrong Bank Transfer in Nigeria (2026 Guide)
We have all been there. You are in a hurry to send money to a vendor, a family member, or a friend, and just as you tap “Send,” you realize you made a mistake. Maybe you typed one wrong digit in the account number, or you picked the wrong name from your “Frequently Used” list.
That sinking feeling in your stomach when you realize your hard-earned money has gone to a stranger can be overwhelming. At Relief.ng, we understand the panic this causes. While reversing a transfer is not always instant, it is possible if you act fast and follow the right legal and banking steps.
Why This Happens
In Nigeria, our banking system (NIBSS) is designed to be very fast. Once you enter your PIN, the money usually moves within seconds.
Common reasons for these mistakes include:
- Similar Names: Many Nigerians share similar surnames and first names, leading to confusion in the “Confirm Name” stage.
- Typing Errors: A single digit difference in a 10-digit NUBAN account number can send money to a completely different person.
- Old Saved Beneficiaries: Sending money to an old account number that the owner no longer uses or has changed.
Step-by-Step Solution: How to Reverse a Wrong Bank Transfer
If you find yourself in this situation, do not waste time. Follow these steps immediately:
1. Take a Screenshot of the Receipt
Before you even close your banking app, save the transaction receipt. You will need the Session ID, the Transaction Date, and the Recipient’s Account Details.
2. Contact Your Bank Immediately
Call your bank’s customer care line or send them an email right away.
- What to say: Tell them you made a “Transfer in Error.”
- What the bank will do: Your bank will contact the recipient’s bank to place a “hold” on the amount in that person’s account.
3. Contact the Recipient’s Bank
If the transfer was to a different bank (e.g., from Access to GTBank), you should also reach out to the recipient’s bank via their official social media handles or email. Provide the Session ID. This helps them flag the account faster.
4. The “Consent” Rule
According to Nigerian banking laws, a bank cannot forcefully take money out of someone’s account without their permission. The recipient’s bank will call the person who received the money and ask for their consent to reverse it.
5. Obtain a Court Order (If the recipient refuses)
If the stranger who received your money refuses to give consent for a reversal, you will need to go to a Magistrate Court to get a Court Order (sometimes called a “Mareva Injunction”). This legally compels the bank to return the money to you.
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How Long It Usually Takes
- Voluntary Reversal: If the recipient is honest and gives consent quickly, it can take 24 to 72 hours.
- Legal Process: If a court order is required, the process can take 1 to 2 weeks depending on how fast your lawyer and the court move.
Common Mistakes to Avoid
- Waiting until Monday: If you make a mistake on a Friday night, don’t wait until Monday. Use the bank’s 24/7 social media or email support immediately.
- Chatting with Scammers: Avoid posting your receipt in the public comments of a bank’s page. Scammers will see it and message you pretending to be bank officials.
- Begging the Recipient Directly: If you have the person’s number, you can call them politely. However, do not threaten them, as this can lead to legal issues for you. Let the bank handle the official request.
Important Safety Warnings
- Never share your PIN or OTP: No bank official needs your secret codes to help you reverse a wrong transfer.
- Scam Alert: If someone calls you claiming they received your money by mistake and asks you to send a code to “help them send it back,” DO NOT DO IT. They are trying to hack your account.
- Relief.ng is an information platform only. We do not have the power to reverse transactions or access your bank account.
Frequently Asked Questions (FAQs)
1. Can I reverse a wrong transfer myself on the app? No. Once a transfer is “Successful,” only the bank (with the recipient’s consent or a court order) can move that money back.
2. What if the person has already spent the money? The bank will place a “lien” (a hold) on the account. This means any money that enters the account in the future will be held until your debt is cleared.
3. Does the bank charge for a reversal? The process of reporting is free, but if you need a court order, you may have to pay a small fee at the court and for legal services.
4. What if I sent money to a wrong OPay or PalmPay account? The process is the same. Contact the fintech’s support (e.g., OPay Support) via their app or official email immediately.
Conclusion
Making a wrong transfer is a nightmare, but by acting fast and following the legal steps, you have a very high chance of getting your money back. The most important thing is to stay calm and use official bank channels.
Have you ever successfully recovered money from a wrong transfer? How long did it take? Share your experience in the comments below so others can learn!
Relief.ng is dedicated to providing helpful information for Nigerian bank users. We are not a bank or a law firm. For direct assistance, please contact your financial institution’s official customer service.