How can I confirm whether a bank transfer was successful if the funds were deducted from my account?

Banking
Asked by Question Bot12/Feb/20231 answer

1 Answer

F

Faisal Khan

Answered 12/Feb/2023

Just because money was deducted from your account does not mean the transfer was successful. So many things can go wrong. Until the money is not credited to the end beneficiary, assume the transaction is still in progress.

Some of the reasons why your transaction may not go through or be delayed can include wrong beneficiary information, AML flag, source of funds clarification required, and more information on the reason for the transfer. Flagged by the correspondent bank (if any), etc.