Can Foreign Remittance be recalled if the amount is deducted from an account?

Before answering, one must need to know the difference between money transfer within the country and between countries. When a person transfers currency with a country means, he may use the same provider in both ends i.e. sender and receivers can be the same but in foreign remittance, the receiver might not be the same firm which sends.

When doing transfer between countries, once the amount is deducted from the account, recalling it back is a difficult task ever. If the amount that has been deducted and credited to the beneficiary foreign bank account, the reversal of money is not possible until the foreign bank accepts the transaction order that has been made form the sender bank account or through any other moneyexchangers portal that has initiated the remittance.

Now you may think what happens in case of pending transactions. It may look so simple, but it is not like that it’s tedious? Recalling amount, strikes on one's mind, mostly when the amount that has been transferred is incorrect or when the remittance order is not accepted by a foreign bank and tends to be pending.

In that situation, the cancellation order can be sent to foreign banks, but still, the decision lies in the hands of the recipient bank based on the purpose of the transaction. Seeking permission for reversal lies on both the end i.e. from where the transaction has been initiated and its ends. To overcome the difficulties foreign currency exchangers help a lot compared to banks.

                The situation where reversal is possible is that in case the account details are wrong or when the beneficiary account is frozen. Without any further steps to carry forward the amount will be recalled. Still you are concerned to get back the amount that has been deducted the only way is that to go ahead with the guidance provided by both the banks in which the transaction has been made.