bank laws

[tinywaist]

Can one re-call/ cancel a transaction when you pay into someone's account by mistake?

[PFA]

Hi there...

Yes - As long as you do it by the close of business day. (3:30 - 4:00 PM for most banks within the Branch N/work)

BACS Recall - 1-3 Wordking Days
CHAPS Recall 1 Working day (However this they will frown upon and kick up a fuss because they have to get moving PRONTO - else they have to follow standard re-collection procs.)

DDR Recalls - 1-3 Working Days.

Hope this helps

[stevie21]

Do you mean cash?

[tinywaist]

yes i mean cash, to hong kong account.

[stevie21]

You're going to go to Hong Kong and pay cash into a bank over there over the counter?

Or do you mean an electronic transaction such as CHAPS (rather than cash) ?

[tinywaist]

yes i actually meant an electronic transfer.

I understood that if you claimed your money back within 3 weeks of paying out you could get it back, even if the person has withdrawn it.

The money gets taken out of their account so they get an overdraft or something...