Your payment is likely to be delayed if you provide incorrect bank details. This can happen in two phases;
Our bank does not let us send the payment
If the bank details you provide are incomplete – for example, you don’t provide the SWIFT (international bank identifier) for your bank – we cannot send the money: this is a field required by our bank so we cannot send money without it.
We’ll message you to ask for this information, and we cannot send your payment until you provide this.
You don’t get the payment we send
If the bank details you provide appear complete, but are incorrect – for example, you type your account number, but substitute a 3 for a 2 – we can send the money fine (our bank does not know that the account number you provided is incorrect), but when the money reaches your bank, they will reject the payment (even with all the other info we provide, because banks are assholes).
It gets worse! If the money we send is rejected by your bank, only some of it will be returned to us! For example:
- We send €500 to you (using incorrect bank details you provided)
- Three weeks later your bank returns only €475 to us with the message “destination account unknown”
- Yes, they keep €25 for that! 🤬
- Next time we send the money to you – hopefully with corrected bank details this time! – we’re only able to send €475… you’ve lost that €25 forever!
This can get expensive and wasteful fast – and delays you receiving payment by weeks – so it’s essential to provide correct bank details! Here’s how to do that.
We’ll always work with you to get the correct payment details, no matter how long it takes. 😌
