Payments can be cancelled or rejected for several reasons. Understanding these can help you rectify any issues and ensure successful transactions in the future. Here are some common causes:
Incorrect Recipient Details: One of the most frequent reasons for payment cancellations is incorrect account details, such as the wrong account number, sort code, or IBAN. Always double-check the recipient's information before confirming a transfer.
Insufficient Funds: If there are not enough funds in your account to cover the payment, it will be rejected. Ensure that you have sufficient balance before initiating a transfer.
Fraud Detection: Our security systems continuously monitor transactions for suspicious activity. If a transaction is flagged by our fraud detection systems, it may be halted as a preventive measure.
Technical Issues: Occasionally, technical problems either on the banking system or the recipient’s bank can cause transactions to be cancelled.
Payment Limits: If the amount exceeds the transaction limits set on your account, the payment may be blocked. Review the limits applicable to your account or contact customer support to adjust them if necessary.
If your payment is cancelled or rejected, you should first review the transaction details for any discrepancies. If everything seems correct, contact our customer support for further investigation. They can provide more detailed information about why the transaction was not successful and guide you on how to resolve the issue.