What is a mistaken internet payment?

A mistaken internet payment occurs when you incorrectly enter payee details for an internet banking or mobile banking transfer to an external account.

If you do provide incorrect payee details (such as the wrong BSB and/or account number) we will still process the transfer but the funds may be transferred to an incorrect account or other recipient, and NOT to the payee you intended to receive the funds.

If you become aware that the payee details you provided were incorrect and funds have been transferred from your account based on incorrect payee information, you should report this to us immediately by contacting us either on 13 30 30 or +61 2 8048 8249 when calling from overseas.

We will then contact the unintended recipient's bank to try and get the money back. If the money is still in the other person's bank account and it is a genuine mistake (because the account name and number do not match), then the process for recovering the money depends on how quickly you have reported the mistake to us. If you report the mistake:

  • Within 10 business days: the funds will be returned to you.
  • Between 10 business days and 7 months: the recipient's bank will freeze the funds. The recipient will then have 10 business days to show they are entitled to the funds. If they do not, the funds will be returned to you.
  • After 7 months: the funds will only be returned if the other person agrees.

What should I do if I transferred money to the wrong account?

You: – must take care to enter or select the correct information about the intended recipient when making a transfer. We may not always be able to recover the funds from an account into which the mistaken payment was made – you should report a mistaken internet payment to us as soon as possible by contacting us either on 13 30 30 or +61 2 8048 8249 when calling from overseas.

We will: – investigate when you notify us of a mistaken internet payment – notify you of the outcome of our investigation, in writing and within 30 business days of you reporting the mistaken internet payment to us.

Please refer to our latest AMP Account Access Operating Terms and Conditions for more information.  

What if money is incorrectly transferred into my account?

If we are notified by a sending financial institution that funds have been credited to your account as the result of a mistaken internet payment by its customer, we will act, in accordance with our obligations set out in the ePayments Code, including the obligations to return funds from your account to the sending financial institution where applicable.

This means that if a mistaken internet payment is reported to us within 7 months of the payment being made and we are satisfied that the payment was a mistaken internet payment, we may deduct available funds from your account up to the total value of the mistaken internet payment without your consent.

Please refer to our latest AMP Account Access Operating Terms and Conditions for more information.  



Download the My AMP app

What you need to know

The product issuer and credit provider is AMP Bank Limited ABN 15 081 596 009, AFSL and Australian credit licence 234517.

It’s important to consider your circumstances and read the relevant Product Disclosure Statement or Terms and Conditions before deciding what’s right for you. This information hasn’t taken your circumstances into account. Information including interest rates is subject to change without notice.

Any application is subject to AMP Bank’s approval. Terms and conditions apply and are available at amp.com.au/bankterms or 13 30 30. Fees and charges may be payable. Full details are available in the Fees and charges guide.

This information is provided by AMP Bank Limited. Read our Financial Services Guide available at amp.com.au/fsg for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you. All information on this website is subject to change without notice.

AMP Bank is a member of the Australian Banking Association (ABA) and is committed to the standards in the Banking Code of Practice. 

A target market determination for these products is available on our TMD page.

AMP Bank subscribes to the ePayments Code. Conditions 7.3.2 Mistaken internet payments to third parties obligations on you and us and 7.3.3 Mistaken internet payments – receiving funds from third party accounts apply if the other authorised deposit-taking institution (ADI) also subscribes to that Code. (These rules don’t apply to BPAY payments. See condition 8 - BPAY for information about mistaken BPAY payments).