Type of Payment and Timing: The possibility of canceling a pending transfer largely depends on the specific payment method used and the timing of the transfer. Some payment types may process more quickly than others, limiting the window for cancellation.
Requesting Refund from Receiver: If cancellation isn't possible, your next best option is to contact the receiver directly. Politely request them to return the transferred amount. This is often the most straightforward solution, especially if the transfer was made in error.
Incorrect Receiver Details: If there was an error in entering the receiver's details, there's a good chance the transfer will automatically bounce back to your account.
For local transfers, this typically takes up to 5 working days.
For SWIFT transfers, it can take up to 20 working days, due to the complex nature of international banking processes.