Your payments can be cancelled directly on the iBanFirst platform, as soon as you have created them. In some cases however, it is not possible to recover payments after a certain time. Here is what you can do, based on your payment type.
SWIFT Payments
SWIFT payments can be cancelled at any time. If you wish to cancel your SWIFT payment, here is what will happen:
If your payment is still at iBanFirst, it will be canceled immediately and not sent to the beneficiary bank.
If your payment is outside of iBanFirst, in an intermediary bank, we will send a cancellation request to the appropriate bank so that the funds are sent back. It might take a few days to credit your payment back on your account.
If your payment has already been credited on the beneficiary's account, we will request a "return of funds", but the beneficiary will have to agree to release your funds back to you. If the return of funds is accepted, it might take a few days to credit your payment back on your account.
You can check the status and location of your payment using our Payment Tracker.
This also applies to RTGS and DSP payments.
SEPA Payments
SEPA payments can only be cancelled when they are still being processed and have not yet left iBanFirst. If you wish to cancel your SEPA payment, here is what will happen:
If your payment is still at iBanFirst, it will be canceled immediately and not sent to the beneficiary bank.
If your payment is already out of iBanFirst, payment cancellation is almost always impossible, unless for some specific cases (fraud or double payments). Please contact your Account Manager to see if your cancellation reason applies and if it can be processed.
You can check also check the status and location of your SEPA payments on the Payment Tracker.