Ksenia Artemyeva, director of the Fast River fintech platform, informed socialbites.ca about the consequences of errors in transactions with debit cards, which require entering card data or other bank details.
The expert said that, as a rule, to complete the transaction, the buyer must enter all the details of the bank card – its number, “expiration date”, Latin name and surname, as well as a three-digit security code. CVV / CVV.
“There are also anonymous cards, and each bank sets its own rules. Somewhere the first and last name field can be left blank. This means that even if you made a mistake in this data, the payment will continue. If somewhere you entered the data incorrectly, you will not receive confirmation of the transaction and the money will not be debited. Then it will be possible to recheck the accuracy of the data, correct it and try again.”
According to Artemyeva, if you disabled the function of confirming purchases with a push notification or an SMS code, money was withdrawn from the card, and then you realized that you entered the name incorrectly, it also depends on the bank.
“If you transfer money using details, it also depends a lot on the internal rules of the bank. As a rule, if the account / card number is correct and the error in the surname is not critical (1-2 letters), then the funds are deposited in the usual way. If the bank finds the mistake in the name critical, it requests clarification of the details and the data should be sent. In the most extreme case, the bank will reject the transaction and automatically return the money to your account after the transactions, ”stressed Artemyeva.
In any case, it is important to note that the money does not leave the account as soon as you click the “send” button. Transfers (transaction confirmation by all parties) can take several hours and sometimes even days.
“If you accidentally made a mistake and entered incorrect data, you noticed it right away, you can immediately call the bank and try to stop the payment. However, we must remember that this only works for transfers over SWIFT / SPFS. Transfers made by card or phone number are instant. And returning them will be possible, if you made a mistake in the figures, only with the help of the person to whom they came to the account, ”the expert concluded.
Formerly Bank of Russia registered The growth of Russian financial literacy.