Excessively transferred funds: concept, return methods and sample letter

No one is ever safe from mistakes. Most accurately, this idea was expressed by US President Theodore Roosevelt:

The one who does nothing is not mistaken.

Of course, the original source of this thought was born many centuries before it. Roosevelt simply translated the phrase from antiquity into a modern, understandable language. But in general, it is clear to everyone - everyone is mistaken. Indeed, the modern rhythm of business everyday life is such that it can be difficult for a person, and sometimes not at all, to fully comply with it. In our article, we will provide information about errors when working with cash. What is especially important - with other people's money.

Errors in listing them are various:

• to the wrong recipient
• for the wrong purpose
• at a wrong time,
• and finally, excessive listing.

Here is the last error we will provide information in detail in our article.

Where to begin

So, an error has occurred. Unnecessarily transferred funds. It is noted that the more people are involved in the production chain, the higher the likelihood of wrong actions. Someone said something to someone, he didn’t understand it, didn’t convey it - and the other hurried and so on ...

Any amount paid incorrectly will be considered as excessively transferred funds, regardless of the type of error and the reasons for its origin.

And what to do? Are you afraid to clutch at your heart, write a letter of resignation? Or in general, to escape to a desert island? Of course not. Calmly and quickly fix the error. A refund of excessively transferred funds is required. But how to do it without losing self-respect, we will try to tell in our article.

First, do not start looking for the guilty person at the moment. Leave this for later in order to understand the reason in a calm environment and to avoid such a repetition in the future.

Try to stop the payment in your bank

Second - try to stop the wrong payment. Contact a bank specialist directly. For this, a secret code word is provided that will stop all operations on the account. But what if this word is unknown or forgotten? Do not hesitate, rather run to the chef. Ask him to immediately contact the management of the bank as the first person - the manager of finance.

If time is not missed, the bank will stop the payment. But it will definitely require a written order.

Sample letter to your bank

We urgently write an outgoing letter in the Internet banking system. Here is a sample letter to return excessively transferred funds to the bank to help.

Do not forget to sign the letter with an electronic signature, send it to the bank and immediately establish a connection. Modern technology will deliver a letter in seconds. A little more necessary delay - and the money will be returned.

Let's try to return the payment from the beneficiary's bank

But alas, most often it happens that the payment has already passed and the funds have been transferred to the beneficiary's bank. If the money has not yet been credited and is in the internal account of a financial institution, then at this stage there is also a possibility, however small, to return the payment back:

• Urgently contact the payee in any way. With a manager or contractor - it already depends on your cooperation between the firms;
• the recipient should contact his bank with a request not to credit the erroneous payment and return the money to the sending bank;
• in a favorable case, perhaps the money will be returned on the same day.

We make a letter to the recipient

In this case, you will also need a letter. Here is a sample:

To strengthen, attach to the letter a payment order with a bank transaction and certified by the manager of your bank.

There are exceptions, there is a refund in this order. But, more likely, you will receive a refusal - either from the recipient, or from his bank. And the answer is this - wait for the money to be credited to the account. We pass to this option.

Refund after bank transfer

The third option is possible only at the end of the trading day, when the statements will be finalized and the postings will be reflected in the balance sheet - yours, the recipient and the banks.

But in this case, be sure to contact the recipient, otherwise he can use your money for his production purposes.

We sign the reconciliation report with the recipient

Actions will begin with the signing of a bilateral reconciliation act. Overly transferred funds will be reflected in it. After that, on the basis of the signed act, a letter is written about the return of excessively transferred funds. His sample:

We consider only those situations in which your company cooperates with bona fide partners. In other situations, you will have to contact the law enforcement agencies, but this is a different topic.

So, the reconciliation act between the parties is signed. The letter was sent, received and reviewed. The answer should be positive, and you can expect a refund on the next day.

If the error is discovered after some time, and the amount is large, be prepared for the fact that you have to wait for the financial opportunity of your partner.

What to do if money is excessively paid to state bodies

We considered options for excessive transfer of funds in cases of business cooperation between organizations. But such situations occur when making mandatory payments to the budget and extrabudgetary bodies. If the difference is small and your boss is not sorry for her - let her go to pay for future periods. Otherwise, prepare mentally and physically for a lengthy procedure.

Returning money from the budget is much more difficult, and the steps are approximately the following:

• money should be credited to your account card - approximately three business days;
• then electronically send a request for reconciliation of payments and receive information on it with the electronic signature of the head of the state body - from one to three business days;
• electronically send a letter to the head of the state body on the return of excessively paid funds with the information on reconciliation of settlements attached;
• find out the result of reviewing your letter and find out who is appointed as an executor - you will receive all further information from this specialist;
• get the decision of the head of the state body on the return of excessively paid funds;
• wait until the money is returned to the account.

Please note - a positive result will be only if your organization does not have any arrears in payments to government agencies.

We hope our article has helped you. A sample letter is submitted for the return of excessively transferred funds. The mistake is not so terrible when there are options for overcoming the situation.

In conclusion, we give the second part of the phrase by Theodore Roosevelt:

Do not be afraid to make mistakes - be careful not to repeat mistakes.

You can only add to this - and know how to fix the error.