I've realised I've made a mistake instructing a transfer. What can I do?

It is critically important to verify all payment details before instructing your transfer with HedgeFlows.  Nevertheless, errors may still happen and below is a summary of what can be done in such cases:

Local payments instructed via HedgeFlows can't be recalled. In many cases, if the local payment went to an incorrect or non-existent account, it will be automatically returned by the recipient bank, although this can't be guaranteed.

For SWIFT payments, we can attempt to recall funds that have been sent to an incorrect account or contained incorrect payment instructions.

Please note we cannot amend beneficiary details retrospectively once payment has been released.

Recalls are not always successful, as we have to rely on the cooperation and approval of the receiving bank and the beneficiary. We can only place one recall on payment, and this cannot be cancelled. Once the recall is placed, our banking partner will chase for a response after seven working days. No further chaser will be made until a response is received. 

The best way to get funds returned is for the beneficiary to contact the receiving bank directly, inform them of the situation and request that they reject the payment.