If the IFSC is wrong but belongs to the same bank, the money is usually credited because banks credit by account number. If the IFSC belongs to a different bank or does not exist, the transfer is normally rejected and the money returns to your account. Contact your bank with the transaction reference (UTR) if it does not.
What usually happens
Wrong branch of the right bank: most banks credit the account by account number, so the money arrives.
IFSC of another bank: the receiving bank cannot find the account and returns the money, usually within a few hours to a day.
Code that does not exist: your bank will not let you add the payee.
Right IFSC, wrong account number: if that number belongs to someone else, the money may be credited to them.
What to do
Check your account: a rejected transfer is usually reversed automatically.
Note the UTR or transaction reference from your bank's app or SMS.
Contact your bank's customer care or branch and ask them to trace the payment.
If it reached the wrong person, ask your bank to contact the receiving bank; they will need that account holder's consent to reverse it.
If unresolved after 30 days, you can complain to the RBI Ombudsman at cms.rbi.org.in.
How to avoid a wrong IFSC
1Copy the IFSC from the payee's cheque, passbook or app, not from memory.
2Check it in the IFSC validator before adding the payee.
3Confirm the branch name your bank shows when you add the payee.
4Send a small test amount to a new payee first.
FAQ
Questions
Will NEFT go through with a wrong IFSC?
If the IFSC belongs to the same bank, usually yes. If it belongs to another bank, the transfer is normally returned.
How long does a returned NEFT take?
A rejected NEFT is usually returned within a few hours and generally the same or next working day.
Can I cancel a NEFT or IMPS after sending?
IMPS and UPI cannot be cancelled once sent. A NEFT may sometimes be stopped if you contact your bank before the batch settles.
