What to do if funds are transferred from an NRE account by mistake?

What to do if funds are transferred from an NRE account by mistake?

Suppose you've accidentally transferred funds from your NRE (Non-Resident External) account to FYERS, instead of your NRO (Non-Resident Ordinary) account. In that case, the transaction must be reversed in compliance with FEMA and broker-level segregation norms. FYERS facilitates a structured reversal process to return such funds to your originating account.

Steps to initiate the reversal process

Follow these steps to request the reversal of an incorrect NRE fund transfer to your FYERS account.

2. Initiate the reversal request online

  • Fill out the reversal form
  • Enter your transaction details and attach scanned documents

3. Submit required documents

  • Copy of the NRE bank statement showing the debit transaction
  • NRO bank statement reflecting IFSC and MICR codes
  • The filled and signed consent letter
  • PAN must be consistent across both NRE and NRO accounts

4. Refund process

After document verification, the funds will be returned to your NRE account within 7 working days, subject to bank clearance

Always verify your funding source before transferring to FYERS. NRE accounts should never be used for trading-related deposits due to FEMA compliance. Use NRO-linked accounts only.

What if...

ScenarioWhat you should know
You don’t have an NRO accountYou must open one to initiate any refund request
Your PAN is not listed on bank statementsObtain a bank certificate confirming that both accounts are held under the same PAN
You miss a document or detailIncomplete submissions will delay the refund—ensure accuracy and completeness

Last updated: 12 Aug 2025