4 ms·
From the SEPA Credit Transfer Scheme Rulebook[1]: A Recall occurs when the Originator Bank requests to cancel a SEPA Credit Transfer. The Recall procedure must
by def_true_false 9y ago
From the SEPA Credit Transfer Scheme Rulebook[1]:
A Recall occurs when the Originator Bank requests to cancel a SEPA Credit Transfer. The Recall procedure must be initiated by the Originator Bank within 10 Banking Business Days after execution date of the SCT subject to the Recall.
...
A bank may initiate a Recall procedure for following reasons only:
• Duplicate sending
• Technical problems resulting in erroneous SCT(s)
• Fraudulent originated Credit Transfer
[1] https://www.europeanpaymentscouncil.eu/sites/default/files/KB/files/EPC125-05%20SCT%20RB%20v8.2%20Approved.pdf https://www.europeanpaymentscouncil.eu/sites/default/files/K...
- blattimwind 9y agoFraudulent payments mean things like e.g. a bank itself was hacked. As an account holder you cannot recall a transfer. It is not possible. In the past it was sometimes possible to cancel a transfer before it was processed by your bank (so the transfer was not booked yet), but nowadays transfers are processed essentially immediately. Some banks have never permitted this.