If you have made the wrong transaction, immediately inform the bank. You can call the customer helpline number. You should know that if the account number you mentioned does not exist, your money will be automatically transferred to your account. ... Your bank can request the cancellation of a transaction.

Can I reverse my IMPS transaction?

It is almost impossible to reverse the funds once transferred via NEFT, RTGS or IMPS. If beneficiary account number to which you have transferred the funds is wrong; in that case, the funds will get reversed to your own account from which you have initiated the transaction.

Can IMPS be refunded?

Customers may avail uninterrupted IMPS and UPI services. ... As per the circular, if the money debited from customer's bank account does not reverse back to the bank account within the specified time period, due to a failed transaction, then the bank is liable to pay a penalty of Rs 100 per day to the customer.