Cancel online transfer - is that possible?

An online transfer is easy and convenient. Unfortunately, mistakes happen quickly there. You can find out whether and how you can cancel the transfer here in this practical tip.

Cancel online transfer - unfortunately not so easy

You cannot easily cancel a wrong transfer.

• Contact the recipient of the transfer and describe the situation.
• If he does not come to meet you, you unfortunately cannot sue the money.
• However, if the fault is with the bank, it is possible to reclaim the money through a court.
• Contact your bank for further assistance as some banks charge fees for this service.
• Also note: An online transfer usually only takes one working day. So contact your bank as soon as possible.

Payers for online transfers: Money is booked back under certain circumstances

If you have inserted a number turner into the account number or sort code, it can happen that the money is booked back to you.

• However, this is only the case if the account number specified during the transfer is not available.
• If the operator is assigned, the recipient of the transfer must agree to a refund.
• To contact the respective recipient, contact your bank as soon as possible. However, they can charge a fee for this service.
• A possible chargeback can take several days, sometimes even weeks.

Find out in the next practical tip the seven best tips for secure online banking.