What to do in case of transfer to a closed account?

You were expecting a sum of money in your account from a salary or reimbursement, but it was never credited. And for good reason, the transfer operation was carried out on a closed bank account. How to recover money transferred to an account that no longer exists? Follow the procedure to fix this error and not make it again.

Transfer to a closed account: What is going on ?

The bank receiving the transfer can’t cash it. Indeed, the account number is no longer valid. Do not wait for a return from the banking organization. This will not warn you in the event of an error.

In reality, the operation order is refused and it is returned to sender.

This error during the transfer can occur in the event of a change of bank domiciliation, for example. Beforehand, notify all the organizations likely to credit your account by providing them with a RIB containing your new BIC and IBAN numbers.

Also read: How to close a bank account?

Transaction on a balanced account, procedures and deadlines

If you noticed a problem with your transfer, be aware that there is a waiting time between the rejection of the operation and the moment when the issuing body will be notified.

In the meantime, with your new RIB, contact the person or company behind the transaction. Submit the bank details for your new account.

Also confirm (by post or email) that the transfer is in progress.

Generally, allow a good week for your transfer issued by mistake to your closed account to be regularized.

The waiting period varies according to the responsiveness of the originator and the bank. Do not hesitate to relaunch regularly in the event of a prolonged wait.

See also  Opening a bank account for teenagers: things to know

Also read: How to cancel your bank account?

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