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Why did my bank transfer fail?
Why did my bank transfer fail?
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Written by Noor Qasim
Updated over a week ago

Payments can be unsuccessful due to a variety of factors. When you encounter a failed payment through Payouts.com, we offer a detailed explanation sourced from the recipient's bank. This is to help you gain a clearer understanding of the cause of the payment failure.

The table provided will list the reasons for payment failures that you will be informed about via email. Additionally, it includes explanations of what each error signifies and suggests measures you can take to avoid similar issues in future transactions.

Error Message Received

Reason

Action

the recipient's account number or account name is invalid

The account name or number does not match the recipient’s bank details.

Check the account name and number with the recipient and confirm with them that the routing number matches the branch of the bank which their bank account is held.

the recipient's bank routing number is invalid

The routing code used for this payment is not used for this payment type or is incorrect overall

Check the routing number with the recipient and confirm with them that the routing number matches the branch of the bank which their bank account is held.

the recipient's bank SWIFT code is invalid

The SWIFT code used to make the payment is incorrect or is not accepted

Check the SWIFT code with the recipient and confirm with them that the SWIFT code matches the branch of the bank which their bank account is held.

the correspondent bank information is missing or invalid

The payment requires a correspondent/intermediary bank to be dispatched

Request alternate bank account details from the recipient, as the capability of adding intermediary/correspondent banks to payments manually is not available yet through Payouts.com

the bank information is invalid

The bank details provided for this payment do not match the recipient’s bank details.

Confirm the bank details with your recipient to make sure they have provide the correct information to you.

the bank account holder name does not match the account number

The recipient’s bank account name doesnt match the holder of the account number

Cross-check the payment details and ask the recipient if their account name matches the bank account details provided

the transfer currency does not match the recipient bank account currency

The currency that was sent for the payment does not match the currencies that the recipient’s bank account can receive so the payment was rejected

Ask the recipient what currencies their bank account can accept, and if it does not match the currency that was sent, send a payment in one of the accepted currencies

the recipient details are invalid

The recipient’s details ( address/post code/account details) are incorrect

Confirm with the recipient that the account details saved for this contact are correct.


a special character was included in the recipient details

Special characters are not allowed in the account payment details for this payment.

Ask the recipient if their bank will accept the payment if it is sent with special characters changed into ENglish alphabet characters. If yes, edit the contact and retry the payment without the special characters.

the transfer amount exceeded the transfer limit

The amount requested to be sent to the recipient is larger than the amount allowed for this type of payment.

Contact support as the transfer limit will need to be requested in order to send funds under that amount in the future.

the intermediary fees exceed the transfer amount

The fees to send the funds exceed the amount that has been sent for the payment.

Send the payment with more funds, or see if there is a payment method that does not charge funds via Payouts.com that can be used to send the funds.

the recipient's bank account is closed

The recipient bank account is in closed status and cannot receive funds.

Ask the recipient if their bank account status is closed with their bank and if yes, request alternate bank details

the recipient's bank account is no longer active

The recipient’s account is closed or in a status other than active

Ask the recipient if their bank account status is closed with their bank and if yes, request alternate bank details

the recipient bank account does not support this transfer

Recipient bank may not be allowed to received this transfer depending on the bank account

Ask the recipient if their bank can allow the payment, and if not, request an alternate bank account to send funds to

the recipient asked us to return the transfer

The recipient of the funds asked their bank to reject the payment and return the funds to us

Contact the intended recipient of funds and ask them why they rejected the payment. I the reason is not known to them, ask them to check with their bank why the payment was not accepted

the recipient bank returned the transfer

The recipient bank returned the funds to us.

Contact the intended recipient of funds and ask them to check with their bank why the payment was not accepted

the recall was successful

A recall was requested for this payment and it was successful and now the funds have been returned

The funds will be returned to your account within 24 hours.

it was requested by you

This payment was requested to be canceled before dispatch.

The funds will be returned to your account within 24 hours.

the transfer purpose is not supported

The purpose input for the payment is not allowed

You will need to send the payment via another method.

this transfer was requested by mistake

This payment was created in error

The funds will be returned to your account within 24 hours.

this transfer couldn't be processed successfully

There was an issue with the transfer being processed

Please reach out to Payouts.com support team for further assistance on this payment failure reason

this transfer cannot be processed further after internal review

Payment failed by recipient bank due to internal policy reason set by recipient bank

We suggest that the recipient reaches out to their bank for more information on why the payment was rejected.

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