What should I do if I receive an unauthorized IMPS transfer in my account?

If you receive an unauthorized IMPS (Immediate Payment Service) transfer in your account, it's important to take immediate action to safeguard your funds and address the issue. Here are the steps you should follow:

1. Contact Your Bank: Notify your bank immediately about the unauthorized IMPS transfer. Contact the bank's customer service helpline or visit your nearest branch to report the incident. Provide them with the details of the unauthorized transaction, including the transaction reference number, date, and amount.

2. Freeze Your Account: Request your bank to freeze or temporarily block your account to prevent further unauthorized transactions. This step helps ensure the security of your funds while the bank investigates the issue.

3. Provide Documentation: Cooperate with your bank's investigation by providing any relevant documentation or evidence you have regarding the unauthorized transaction. This may include transaction receipts, bank statements, or any other information that can assist in resolving the issue.

4. File a Complaint: If necessary, file a formal complaint with your bank regarding the unauthorized transfer. Follow the bank's prescribed procedure for filing a complaint, which may involve submitting a written complaint or using their online complaint portal.

5. Report to Authorities: If you suspect fraudulent activity or believe your account has been compromised, consider filing a complaint with the appropriate authorities. This may involve contacting local law enforcement or reporting the incident to the cybercrime cell or fraud investigation unit in your country.

6. Change Security Credentials: As an additional precautionary measure, change your online banking password, PIN, or any other security credentials associated with your bank account. This helps prevent unauthorized access to your account in the future.

7. Follow Up with the Bank: Stay in regular contact with your bank to track the progress of the investigation and resolution of the unauthorized transfer. Keep a record of all communication and correspondence with the bank for future reference.

Remember, prompt action is crucial when dealing with unauthorized transactions. By notifying your bank immediately and providing the necessary information, you improve the chances of recovering your funds and resolving the issue effectively.