Transferring money incorrectly - what to do?

The most important things at a glance:

Here you will find answers to the following questions:

Quickly enter the recipient and the IBAN, enter the amount and the transfer is done. But what happens if an error has crept in unnoticed?

We'll tell you how to best proceed with an incorrect transfer.

What should you watch out for in the event of an incorrect transfer?

As soon as an incorrect transaction is noticed, the first step is to contact the responsible bank. From a legal point of view, banks are fundamentally obliged to help the affected customer to get the money back within their means. Investigation fees are not allowed to be charged by banks.

However, banks cannot be held liable in the event of a transfer error caused by incorrect entry of the recipient data. The EU directive for payment services stipulates that the banks no longer have to compare the IBAN with the recipient name. This is based on the fact that domestic transfers and cross-border transfers in the European Economic Area are treated equally. This rule applies to all transfers and deposits. Thus, the responsibility for payment transactions rests with the consumer himself.

What options are there in the event of an incorrect transfer?

Depending on the processing status of the transfer, the procedure is as follows:

1. Transfer not yet processed:
Recent transfers that have not yet been approved can be canceled immediately by the financial institution.

2. Transfer already carried out:
In this case, a request for referral back or an inquiry must be made. Both orders are to be carried out by the respective bank free of charge. The unlawful recipient of the incorrect transfer will be informed of the application by his bank. This must agree to a return transfer. If the recipient of the money refuses to transfer the money back, only legal recourse remains. However, the right is on the side of the remitter, as the recipient of the money unlawfully enriches himself.

Tip : Save the recipient data. In the case of a new transfer, the recipient's data can be selected with one click and automatically entered in the transfer template. This means that no more mistakes can be made in the next transaction.

Incorrect transfer made at Pay Here?

Contact our competent customer support. Our colleagues will be happy to help you!

Disclaimer:
The free and freely accessible content of our website was created with the greatest possible care and to the best of our knowledge. However, the provider of this website does not accept any liability for the topicality, completeness and correctness of the content provided. In particular, the information in our guide is of a general nature and in no way constitutes legal advice in individual cases.

Via Pay Here

The German e-money institute Pay Here has specialized in payment services with Debit Mastercards and accounts without Schufa. Individual solutions are offered for both private and corporate customers.

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