Contact your bank and report the fraudulent transfer. Ask if they can reverse the wire transfer and give you your money back. Did you send money through a money transfer app? Report the fraudulent transaction to the company behind the money transfer app and ask if they can reverse the payment.

Can a bank transfer be reversed 2020?

You cant reverse or cancel a direct bank transfer (sometimes known as BACS or Faster Payments).

Can I recall a bank transfer?

There is no automatic process for immediately reversing payments.” In addition, there is no guarantee when – or if – you will get your money back. “Faster payments cannot be recalled once sent,” said a spokeswoman for Santander.

How does a bank investigate a dispute?

The bank examines the transaction based on the customers claim: The bank is responsible for reviewing the transaction data and evaluating whether the buyers claim is reasonable. The bank makes a decision: The issuer decides to either reject the inquiry or file a chargeback on the customers behalf.