A successful bank transfer that hasn't been credited is usually due to processing delays, incorrect recipient details, or bank holidays, even if the sender's app shows "complete". Funds are typically safe but held for verification or in transit, commonly taking 1-3 business days or up to 24 hours for banking hours, Wise.
Wait for 48 hours for automatic reversal. Raise a complaint via your UPI app. Contact your bank with transaction details. Escalate to RBI Ombudsman if unresolved.
The receiving bank is still processing the money
So your money's safely on its way, but the recipient bank is still processing it. Your recipient can ask their bank to speed this up. They'll need a transfer receipt that has all the details.
As a result, most bank transfers are instantaneous, although in some cases, payment can take up to two hours. It's important to remember that while Faster Payments aims to provide you with these types of bank transfer times, there's no guarantee that your payment will be cleared on the same day.
Please note that successful transfers cannot be canceled/reversed as the funds have been delivered to the recipient.
But there are certain situations when you can ask for the money to be returned to you – for example, if: You've sent money to the wrong account – if you entered the account details incorrectly, your bank may be able to help recover the funds. You've been scammed or defrauded – some transfers may be recoverable.
Payment reversals can cost more than the original transaction amount when you factor in fees, lost products, and administrative costs. Different payment methods have vastly different reversal risks – credit cards and PayPal are high-risk while wire transfers and Zelle are nearly irreversible.
What are the Common Reasons for Delays in Bank Transfers?
Most transactions post at the end of each business day but posting order and times can vary. Business days for banks are generally Monday - Friday from 9am to 5pm, excluding federal holidays. Transactions received outside of these hours, including on weekends, are usually posted on the next business day.
A payment hold means a temporary delay in making funds available after a transaction. The money is still in process — not lost or denied. This is not the same as a failed transaction, which doesn't go through at all. Instead, it's a delay while the system checks that everything is correct.
If transfers take longer than expected, delays can result from factors such as the timing of the transfer, destination, currencies involved, security checks, or bank holidays. Common causes include: Bank Cut-off Times and Time Zone Difference.
Bank account verification is the process of confirming account details, as well as that a person or business has legitimate access to a bank account. This typically involves using instant account verification, validating via a database, or microdeposits.
If money has debited from your account but the merchant says they didn't receive the credit or refund, contact your bank to file a chargeback. You can file a chargeback on the bank's official website or by visiting the physical bank branch.
If you have set up a payment but the recipient has not received it or you think it may have gone to the wrong account: You would firstly need to identify where the payment has gone to. If you know the recipient you can contact them and arrange to have the funds returned.
It uses USSD (Unstructured Supplementary Service Data) technology, which works on basic phones too. This service helps people across India do banking just by dialling *99# from their mobile.
Transferring money between banks can take one to five business days, depending on the banks involved and the transfer method you choose. Bank transfers are a way to get money to someone else without using physical cash.
If you make a transfer before 6pm (AEST/AEDT) on a business day, the payee will usually get the funds the following business day.
If money is transferred but not received, it's usually delayed, not lost; check details for errors (name, account number), contact your bank/provider immediately for a trace (SWIFT for international), check processing times, and be aware that wrong info can block funds, but providers often help correct issues quickly before release.
Banks don't process transfers on weekends or public holidays. Our estimates only count working days (Monday to Friday). If you send money on a Friday or before a holiday, it might not move until the next working day. This applies to banks in both the country you're sending from and the one you're sending to.
Risks associated with wire transfers
Irreversibility: Once funds are sent via wire transfer, recovering them is difficult. If you make a mistake entering the recipient's details or transfer funds following a scam, it's often irreversible.
If there's no dispute, the money should be returned to you within 20 working days. If there is a dispute, you'll be notified of the outcome of your bank's investigation within 20 working days.
Here are some of the most secure payment methods available online:
When buying goods or services, particularly from an unfamiliar online retailer, using a credit or debit card often provides better protection than a direct bank transfer. Debit card: provides chargeback protection on most payments if something goes wrong with the purchase, such as not receiving the item you paid for.