Wire Transfer Error.

[ford_48141]

Michigan

I accidentally transfered money into a wrong account (used a wrong routing number).
1. How do I get it back? Can the recipient bank (Chase)/ the recipient person amicably return it to me?
2. If not what are my legal options?
3. Is there a time limit within which I need to inform the bank?
Please help. I sent a huge amount.
Thanks

 

[Antigone*]

Michigan

I accidentally transfered money into a wrong account (used a wrong routing number).
1. How do I get it back? Can the recipient bank (Chase)/ the recipient person amicably return it to me?
2. If not what are my legal options?
3. Is there a time limit within which I need to inform the bank?
Please help. I sent a huge amount.
Thanks

You will want to speak to your bank right away and have their wire department recall the wire. Your bank will contact the bank that erroneously got the funds (Chase) and attempt to retrieve the funds. I suspect that Chase has the money sitting in a suspense account.

In the unlikely event that a customer's account got credited then the process is a bit more difficult. Chase would have to get permission from the account holder to debit the funds back out.

Hope this helps, good luck to you.