4 Important Things to Do When an Unknown Person Pays Money Into Your Account

4 Important Things to Do When an Unknown Person Pays Money Into Your Account

- Bank glitches and honest mistakes can occur during financial transactions

- Sometimes, the situation could result in another person getting funds meant for a different individual

- A man who decided to spend funds that are not his is currently in the custody of the EFCC and it is important people are educated on what to do in such situations

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The Economic and Financial Crimes Commission (EFCC) recently arraigned a man who refused to refund the N2million paid into his account.

The story resonated across Nigeria as many have been in the same situation before.

While some have been tempted to spend such monies, others have been disciplined enough to stay away from spending the money and instead call the attention of the appropriate authorities concerning the funds.

Yinka Ogunnubi, a finance professional with extensive experience in corporate treasury and finance spanning 15 years, has taken time to educate Nigerians on what to do if they find themselves in such a situation.

4 important things to do when an unknown person pays money into your account
The EFCC under the leadership of Abdulrasheed Bawa recently arraigned an individual for spending money he received from an unknown person. Photo credit: @officialEFCC
Source: Facebook

Ogunnubi who is also an author reeled out four major steps to take to address the situation.

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They are:

1. Notify your bank in writing and ensure it is acknowledged by the bank.

2. If it's established that it was a mistaken transfer, ensure that determination is put in writing by the bank with details of the true beneficiary provided.

3. If contacted by the owner of the fund with a request to transfer, route the request through your bank in writing.

4. Preferably, request that the bank should reverse the transfer themselves rather than you transferring yourself. This ensures that you have nothing to do with both ends of the transaction.

He added:

“Whatever you do, just don't touch the money.”

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The documents or items required are 12 in number and they are listed here.

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Jerrywright Ukwu is an Abuja-based senior political/defence correspondent at Legit.ng. He is a graduate of the Nigerian Institute of Journalism, Lagos and the International Institute of Journalism in Abuja. He is also a member of the Nigeria Union of Journalists. He spends his leisure-time reading history books. He can be reached via email at jerrywright39@yahoo.com.

Source: Legit.ng

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