Send money abroad has been a highly demanded process ever in recent years. The hike in people moving abroad has given an equal push to send money abroad from the home country as well. Even if the overseas money transfer is a regular routine, seldom people request to cancel the international money transfer, which they have already proceeded with!
Well, why do people tend to cancel the already processed money transfer abroad?
This is a bit of a baffling question for many.
There is an ‘n’ number of reasons behind this! From some ‘accidental mistakes occurred during the transaction process’ to ‘sudden inconvenience of the beneficiary to collect the money’, the motives that incite people to cancel the international money transfer goes on…
Even if people want to cancel the transaction, is it possible to do so?
The answer is yes. Since you are paying for the transaction, you have the right to cancel it as well. However, there are certain conditions applicable to canceling an already processed money transfer abroad.
Want to know more?
You can cancel a send money abroad which you have already done, but it rests on the circumstances as well. If you like to cancel a fund transfer, analyze your contract and receipt, and contact the company instantly.
You have the right to cancel the transfer at no cost if it meets the below conditions:
- You used an authorized dealer to send money abroad as defined under federal law.
- The money hasn’t been deposited or picked up by the receiver, and you paid for the transfer less than 30 minutes past. Or, if you arranged the transfer in advance, you can cancel the transfer up to three business days before it is done.
- In some cases, state law or the service provider’s own rules may give you more time to cancel a transaction.
- If you got a receipt for your money transfer, it should generally state what your cancellation period is.
Now, if you have any emergency to cancel the money you have transmitted abroad, no need to sit back in your home and worry, the door for canceling your transaction is open for you. The only thing you want to do is to check whether you meet up with the conditions laid by the service provider, and if it is okay, then confidently step out to cancel your transaction without any hesitations, because it’s always ‘better to be late than never’…
