Can a bank transfer be reversed?
Bank transfers cannot be reversed, but there are some exceptions. In case a consumer makes a mistake with the bank transfer and requests their bank to reverse the funds, the bank will reach out to GlobalCollect’s processing bank. Our processing bank will contact the payment services team with a request to refund the transaction. If the transaction is already matched with an existing order the Payment Services team will ask for approval from you. In some countries consumers are able to complete a bank transfer by check. In case the check is reversed by the consumer, the bank may report the transaction as a reversal without prior notification to GlobalCollect.
How long does it take for a bank transfer to be reported as paid?
From the moment the consumer has instructed the bank to process the bank transfer it will take between 2 and 5 business days for the funds to arrive on the bank account and be reported.
When can the order be released?
An order that can be paid by bank transfer can be release as soon as the order has been reported with the status Completed with the status ID paid.
When can a bank transfer be refunded?
A bank transfer can be refunded as soon as the order has been reported with the status Completed with the status ID paid.