Cancel completed/Done money transfers

NOTE: This functionality is only available to finworks users

Cancelling completed money transfers are complex as the transactions are written in the finworks system when the second leg of the money transfer has been matched. On cancellation the bank entries will be unmatched and transactions resulting from the money transfer will be zeroed.

1. After cancelling a completed money transfer the money transfer cannot be created again.
2. On a client instruction (except for withdrawal instructions which have not been completed yet), cancelling the money transfer will result in negative cash on the client’s holdings which will have to be addressed by the client by, for instance, loading a switch to clear the negative amount.
3. On a withdrawal instruction the cash will be in the incorrect cash account and a payment batch or matching of the payment cannot be done. The client will have to cancel the payment and thus complete the instruction and load a new withdrawal.

Also see Cancel Created Money Transfer and Unmatch partially matched Money Transfer

Last Updated on 5 months ago by Antoinette Van Meyeren