Incorrect IFSC Code: State Bank of India ( SBI) has been increasingly focusing on online and digital transactions in recent times. In times of lockdown, people have automatically turned to digital banking. However, mistakes are often made in these transactions. Many customers enter incorrect account numbers or IFSC codes when transferring money online. In such cases, money is deducted from the customer’s account, but they do not reach the right place.
What Happens if I Enter Incorrect IFSC Code
However, do not panic if you make such a mistake. First of all, you should contact SBI Bank. If you have transferred money to the wrong account number, the following process will start from your home branch. Therefore, the process should be stopped first by contacting the Home Branch.
However, the bank will not be held responsible if the money goes to the wrong account, SBI said. Therefore, the details of the beneficiary account should be verified before transacting. However, if you still make a mistake, you should contact the Home Branch or the Beneficiary Bank.
Able to use SBI Yono with the registered number only
These new security features allow you to access the Yono app account from a registered mobile number if you use the Yono app for SBI’s online banking. You will not be able to make any transaction from the account using SBI Yono from any other mobile number. For this, SBI advises customers to use the same mobile number registered in their mobile account while using SBI Yono.