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Mobile money transfers have become an indispensable part of modern life in Kazakhstan, offering unparalleled convenience. However, this ease of use also brings the risk of accidental transactions. If you've sent money to the wrong recipient, understanding the process for recovery is crucial.

Who is Responsible for an Incorrect Transfer?

According to the National Bank of Kazakhstan, mobile transfers are initiated by the sender entering the recipient's phone or card number. The system then typically displays the recipient's name and the first letter of their surname, linked to that number. Once the sender confirms the transaction, the funds are immediately transferred.

While the possibility of mistyping a number exists, the law places the responsibility for errors squarely on the sender. As per Article 57, Clause 1, Sub-clause 2 of the Law 'On Payments and Payment Systems,' banks are obligated to process payment orders based on the provided details. However, the same law, in its second clause, clarifies that if the sender makes a mistake, the operation is not classified as an 'erroneous instruction.'

The National Bank emphasizes that such transfers are legally valid, and the sender is accountable for any errors in digits or other details. Therefore, it is vital to meticulously check all information before confirming the transaction.

What Steps Can You Take?

If you've made an incorrect transfer, the National Bank advises customers to contact the Agency for Regulation and Development of the Financial Market. This agency acts as a body ensuring the protection of consumers' rights and legal interests in the financial services sector.

It's important to note that recovering mistakenly sent funds is generally only possible with the consent of the person who received the money. Banks have developed functionalities to facilitate such returns and have introduced notification systems for fund recovery requests.