I wrote the wrong beneficiary name in the transfer... what should I do? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

I wrote the wrong beneficiary name in the transfer... what should I do?

Asked by Banky team 2 months ago
Banky team Reviewed editorial answer

If you discover that the beneficiary's name is misspelled, contact the bank immediately before assuming you can correct it yourself.

Steps

  1. If the transfer is still in progress, the bank may be able to amend or cancel it depending on the type and stage of the transfer.

  2. However, if it has already been processed, the bank may need to request a modification or refund from the recipient, which is not guaranteed.

  3. Have the transaction number and the correct beneficiary's information ready, and do not initiate a new transfer until you know the status of the first one.

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