Sometimes, transactions can get rejected by the bank. Here are a few reasons why this might happen and some tips on how to resolve it:
- Incorrect Details
- Reason: Incorrect recipient details (e.g., account number, name, or SWIFT code) were provided.
- Solution: Double-check the information entered for accuracy and correct any errors before retrying.
- Transaction Limits Exceeded
- Reason: The transaction amount exceeds the daily, weekly, or monthly limit set by the bank.
- Solution: Confirm your transaction limits with your bank and adjust the transaction amount or request a limit increase.
- Security Flags
- Reason: The transaction was flagged as potentially fraudulent or unusual by the bank's security system.
- Solution: Contact your bank to verify and authorize the transaction. Inform them if you plan to make similar transactions in the future.
- Restricted Payment Type
- Reason: The bank does not support the type of transaction you are trying to make (e.g., cryptocurrency-related transactions).
- Solution: Check with your bank to ensure the transaction type is allowed or explore alternative payment methods.
- Cross-Border Restrictions
- Reason: The transaction involves an international transfer that the bank has restricted.
- Solution: Confirm with your bank whether cross-border transactions are permitted and ensure you comply with any specific requirements.
- Regulatory Compliance Issues
- Reason: The transaction may not meet compliance or KYC/AML requirements.
- Solution: Provide any requested documents or information to your bank to resolve compliance concerns.
If you still find any issues during the transactions, you may Contact Us directly and we will help you to solve the issue.