It can generally take around three business days to cancel the transfer and reverse it in a domestic transfer. However, since it all happens so fast, canceling a wire transfer is nearly impossible. Though your bank is situated in Europe, there are high chances to use IBAN 2 instead of SWIFT.Īdditionally, financial institutions have to make sure that all the wire transfer safety protocols are enforced so that people can quickly send and receive money without any problem. How long does it take for a wire transfer to be returned?īanks usually use SWIFT codes 2 to connect globally. Wire transfer institutions and banks typically address the sender's liability if they have given the wrong account information. So, in a nutshell, you cannot reverse your wire transfer once the funds have been sent to the receiver and no extenuating circumstances were surrounding that error-laden transfer.
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