: Can wire transfers be reversed? Is there a law or regulation providing for it? Can wire transfers be reversed? Is this codified into United States or International regulation/law anywhere?

Vote Up Vote Down   0 Reactions

Login to give Reaction!

If the error is because of you, you can request the Bank to see if there is a possibility of recall. However this is normally available only to large corporates. There is a window by the time you submit an instruction to the bank and the time it is fulfilled and recall is technically feasible. Once the Bank has processed the instruction, reversals / recall's are not possible by Law as Bank does not know the underlying reason for making the payment.

If its a Bank's error then the obligation is with the Bank to credit back the funds to you irrespective of whether Bank is able to recover the funds from Beneficiary.

Vote Up Vote Down   0 Reactions

Login to give Reaction!

Unless there was a mistake that you can blame on the bank (e.g.: they copied the numbers wrong from the form you filled), wires generally cannot be reversed.