Tranfer been executed and now refunded


#1

I need help and your robot hasn’t been very helpful. Sent a transfer and was executed (is on my understanding that the details were correct in order for this to happen) and now the transfer has been refund back to me. I really needed the money to be there by today. There is no explanation why. Please advice


#2

Hi there.

As I can see the the bank returned your transfer. As the payment was attempted, the correspondent bank may have debited their processing fees from the funds sent, which is reflected in the amount returned.
The most common reasons for returned funds are:

  • the beneficiary’s account has been closed
  • the beneficiary’s account number is incorrect
  • the beneficiary’s name does not match the account number