Sent Money to the Wrong IBAN? Do This Fast
What happens if you send money to the wrong IBAN? Contact your bank or transfer service as soon as possible: the transfer may be rejected, or it may reach someone else's account — and a return isn't guaranteed.
Transcript
What happens if I send money to the wrong IBAN?
Have you sent money to the wrong IBAN, international bank account number? You should contact your bank or money transfer service as soon as possible.
If the number is valid, the transfer may be rejected. But if it belongs to someone else's account, then the money could reach them. And then you want to make sure that's reversed as soon as possible.
Your bank may be able to stop the transfer or ask for the money back, but a return isn't guaranteed. So time is of the essence.
Always double-check the account number and details, and pay attention to make sure that the names match.
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About this episode
Typing one wrong character into an IBAN is an easy mistake to make, and what happens next depends on the details. If the number isn't valid, the transfer may simply be rejected. If it happens to belong to someone else's account, the money could reach them.
Either way, speed matters. Contact your bank or money transfer service as soon as you notice, so they can try to stop the payment or ask for the money back. They may be able to do that, but a return isn't guaranteed.
The best protection is prevention. Before you send, double-check the account number and the payment details, and make sure the name on the account matches the person or business you mean to pay.
Key takeaways
- If you've sent money to the wrong IBAN, contact your bank or money transfer service as soon as possible.
- A transfer to an invalid number may be rejected; one to a valid number could reach someone else's account.
- Your bank may be able to stop the transfer or ask for the money back, but a return isn't guaranteed.
- Always double-check the account number and details, and make sure the names match before you send.
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