My transfer was refunded
Why was my transfer refunded?
There are several reasons why a transfer may need to be returned. To find out why a transfer has been unsuccessful, select the transaction in your transactions list and see the 'Status' section.
Common reasons for transfer refunds:
- Closed beneficiary account: the recipient's account is no longer active
- Incorrect beneficiary details: errors in the account number or other beneficiary information
- Rejection by beneficiary's bank: the recipient's bank didn't accept the funds
- Processing issues: technical or processing problems at the receiving bank
Refund processing times
Once a transfer is refunded, it may take some time to show in your Business account.
- Local transfers: up to 5 business days
- International transfers: up to 20 business days
Refunded transfer fees
For international transfers, intermediary banks may deduct fees, which is why the returned amount is lower than the initiated amount.