Banks Germany

English Information about Banking in Germany

 
  • Home
  • Bank Account
    • 1822direkt
    • Comdirect
      • Open a ComDirect Account Online – Detailed Instructions
    • Commerzbank
      • Open a Commerzbank Account – Instuction with Screenshots
    • Consorsbank
    • DAB-Bank
    • DKB Bank
    • HypoVereinsbank
    • ING DiBa
    • Netbank
    • Noris Bank
    • N26
      • N26 Account Opening – Detailed Instuctions
    • Postbank
      • Open a Postbank Giro Plus – Instuction with Screenshots
    • Targobank
    • Volkswagen Bank
    • Wüstenrot Bank
  • Credit Cards
    • Free Credit Cards
      • Advanzia MasterCard Gold
      • GenialCard – Instant Online approval
      • Barclaycard New Visa
      • PayVIP MasterCard Gold
    • Co-Branded Credit Cards
    • Airline Credit Cards
      • Miles & More Blue
      • Miles & More Gold
      • Barclays Germanwings Gold
    • Prepaid Credit Cards
      • Kalixa Prepaid MasterCard
      • LBB Prepaid VISA credit card
    • Credit Card with easy Loan – easyCredit
  • Loans
    • Car Loan in Germany
  • Invest
  • Guide
    • Select a Bank Account in Germany
      • Banks with English Service
    • Open a German bank account
      • Open a DKB bank account
        • DKB Euro bank account for non-residents
        • English DKB bank account opening form
      • Open a Postbank Account Online – Screenshots
      • Open a Commerzbank Account online – Screenshots
      • Open a ComDirect Account online – Screenshots
    • Freelancers and Self-employed
    • Open a Student Blocked Account
      • Best Bank account for students
      • DKB Bank Account for Students
    • German bank accounts for non-residents
      • Open Comdirect bank account for non-residents
    • Information
      • Schufa Credit Score
      • Bank Cards
        • What is a Girocard?
        • V Pay – pay cash in Europe
        • What is a Maestro card?
        • What is Cash Group?
        • What is cash pool?
        • What should you do in case of loss of card?
      • Money Transfer
        • Local Money Transfer in Germany
          • What is a SEPA money Transfer?
          • Direct Debit Mandate
          • Wrong Transfer
        • International money transfer
          • Cheap money transfer options
      • Internet Banking
  • Deals
Menu
  • Home
  • Bank Account
    • 1822direkt
    • Comdirect
      • Open a ComDirect Account Online – Detailed Instructions
    • Commerzbank
      • Open a Commerzbank Account – Instuction with Screenshots
    • Consorsbank
    • DAB-Bank
    • DKB Bank
    • HypoVereinsbank
    • ING DiBa
    • Netbank
    • Noris Bank
    • N26
      • N26 Account Opening – Detailed Instuctions
    • Postbank
      • Open a Postbank Giro Plus – Instuction with Screenshots
    • Targobank
    • Volkswagen Bank
    • Wüstenrot Bank
  • Credit Cards
    • Free Credit Cards
      • Advanzia MasterCard Gold
      • GenialCard – Instant Online approval
      • Barclaycard New Visa
      • PayVIP MasterCard Gold
    • Co-Branded Credit Cards
    • Airline Credit Cards
      • Miles & More Blue
      • Miles & More Gold
      • Barclays Germanwings Gold
    • Prepaid Credit Cards
      • Kalixa Prepaid MasterCard
      • LBB Prepaid VISA credit card
    • Credit Card with easy Loan – easyCredit
  • Loans
    • Car Loan in Germany
  • Invest
  • Guide
    • Select a Bank Account in Germany
      • Banks with English Service
    • Open a German bank account
      • Open a DKB bank account
        • DKB Euro bank account for non-residents
        • English DKB bank account opening form
      • Open a Postbank Account Online – Screenshots
      • Open a Commerzbank Account online – Screenshots
      • Open a ComDirect Account online – Screenshots
    • Freelancers and Self-employed
    • Open a Student Blocked Account
      • Best Bank account for students
      • DKB Bank Account for Students
    • German bank accounts for non-residents
      • Open Comdirect bank account for non-residents
    • Information
      • Schufa Credit Score
      • Bank Cards
        • What is a Girocard?
        • V Pay – pay cash in Europe
        • What is a Maestro card?
        • What is Cash Group?
        • What is cash pool?
        • What should you do in case of loss of card?
      • Money Transfer
        • Local Money Transfer in Germany
          • What is a SEPA money Transfer?
          • Direct Debit Mandate
          • Wrong Transfer
        • International money transfer
          • Cheap money transfer options
      • Internet Banking
  • Deals

Wrong money transfer and Chargeback

Transposed numbers are not uncommon and extremely annoying for transfers. This is even more so after the new guidelines for the banking industry came into effect. Since then, the customer is solely responsible if he makes a mistake with the sort code or account number. Previously banks have matched the name of the account holder with the bank. However now this step is omitted. The money will be transferred without detours on the account that is specified in the transfer form, regardless of whether there is possibly a faulty transfer or not.

React immediately with a false transfer

The sooner you react in such a wrong transfer, the better. If the error is noticed shortly after the transfer was made, online or with a bank transfer form, the probability is high that the process can not be stopped. This may include a call from your bank. If the transfer is not completed, the bank sees to it that the recipient account is reverted.

Ask for chargeback

Clearly problematic is a false transfer, which has already been executed and credited to the recipient’s account. The bank can not simply return the book as money. It requires an agreement by the payee. Without this consent, the only way a lawyer in the worst case. For purely legal perspective, the recipient unjustly enriched and is therefore obliged to accept the chargeback. In addition, the following applies: Bank customers are required to check their bank statements and responding to accounting errors. Our tip: To save yourself trouble, should be checked twice and three times at each transfer account number and sort code of the recipient. Might otherwise threatens anger of the person who actually had the money to get.

Incorrect or unauthorized withdrawals from checking account that were made by direct debit, can be undone. The method is simply called a chargeback. For example, if your account was deducted 1,200 euros instead of 120 euros due to a computer glitch by the insurance company or if you have been cheated by someone, the money is not lost. 

However, you should hurry. Although the law provides, quite generous withdrawal periods depending on the reason for the chargeback, the sooner the error is cleared out, the better it is.

Cancellation period for chargeback in Germany

Most of the time customers can instruct the bank for a chargeback if the money has been debited without their consent. For example when no instruction was issued for the direct debit before. This is for example the case when cheaters using the bank data for debits. This must not necessarily be large amounts. It is therefore important to look at each transaction on the bank statement. If there is actually an unauthorized debit, the withdrawal period is 13 months. If the debit is based on a direct debit authorization issued as an online retailer, the withdrawal period remain six weeks. The time limit begins when the bank statement or the accounts of the Bank is present. In SDD (SEPA Direct Debit), the time window for the revocation closes after eight weeks.

  • Chargeback period in case of  Unauthorised Debit – 13 months
  • Chargeback period in case of Authorized Debit by online Retailer – 6 weeks
  • Chargeback period in case of debit by SEPA Direct Debit – 8 weeks

The correct procedure for initiating chargeback in Germany

If there is a transaction which can not be assigned to any action or is just simply a wrong amount, the bank must be informed immediately. In case you have a local bank branch, take it to the employee and inform them. You might have to inform them in writing if it was a fraudulent transfer, and sometimes a police complaint must also be made in case of transfer by lost card. In the direct banks chargeback can naturally only be ordered by phone or, if by e-mail, and it is always better to speak personally with one of the clerks.

The cost of a cancelling the debit

Since the process is linked to banks with a certain effort, fees are applicable and is invoiced always to the one who initiated the debit. This sometimes leads to the fact that the payee the amount reclaimed by the account holder. If the chargeback initiated causes a lack of funds in the bank account, it leads to a penalty.

If the direct debit is disputed, the creditor must prove that a debit authorization has been granted, or the debtor must prove that the direct debit authorization has been revoked.

5 thoughts on “Wrong money transfer and Chargeback”

  • Sean says:
    October 11, 2018 at 2:10 am

    Hello, i was asked to send money to an account, i found out i took out the wrong account information, what should i do to get my money back , it was sent to a German bank . Please Advice

    Reply
    • Admin says:
      October 11, 2018 at 10:40 am

      Contact your bank immediately and ask for a stop of transfer. Normally, the bank (receiving) should check if the name and account number matches, otherwise the transfer is automatically cancelled. But it can slip through.

      If nothing works, then you can only initiate a transfer back on the consent of the recipient through the bank.

      Reply
  • Ahmed says:
    November 20, 2018 at 6:56 am

    I opened a block account in sutor bank through fintiba. Unfortunately my student visa was rejected. Fintiba reversed back my payment to my local bank account from where original transfer was done.Now its more than 2 months I have not received any amount.

    Reply
  • ??? says:
    January 3, 2019 at 3:06 pm

    I made a transfer 1 month ago and can I get back my amount

    Reply
  • Celina says:
    February 20, 2019 at 11:13 pm

    Hello
    I want to ask a question and i need honest reply on time
    My dad transfer money from Germany Bank {Comdirect bank} to my own South Africa bank account
    { FNB BANK } and my account was frozen….How long it take to refund the money back to my dad account in Germany bcuz my dad have already ask for refund

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  • Home
  • Bank Account
    • 1822direkt
    • Comdirect
      • Open a ComDirect Account Online – Detailed Instructions
    • Commerzbank
      • Open a Commerzbank Account – Instuction with Screenshots
    • Consorsbank
    • DAB-Bank
    • DKB Bank
    • HypoVereinsbank
    • ING DiBa
    • Netbank
    • Noris Bank
    • N26
      • N26 Account Opening – Detailed Instuctions
    • Postbank
      • Open a Postbank Giro Plus – Instuction with Screenshots
    • Targobank
    • Volkswagen Bank
    • Wüstenrot Bank
  • Credit Cards
    • Free Credit Cards
      • Advanzia MasterCard Gold
      • GenialCard – Instant Online approval
      • Barclaycard New Visa
      • PayVIP MasterCard Gold
    • Co-Branded Credit Cards
    • Airline Credit Cards
      • Miles & More Blue
      • Miles & More Gold
      • Barclays Germanwings Gold
    • Prepaid Credit Cards
      • Kalixa Prepaid MasterCard
      • LBB Prepaid VISA credit card
    • Credit Card with easy Loan – easyCredit
  • Loans
    • Car Loan in Germany
  • Invest
  • Guide
    • Select a Bank Account in Germany
      • Banks with English Service
    • Open a German bank account
      • Open a DKB bank account
        • DKB Euro bank account for non-residents
        • English DKB bank account opening form
      • Open a Postbank Account Online – Screenshots
      • Open a Commerzbank Account online – Screenshots
      • Open a ComDirect Account online – Screenshots
    • Freelancers and Self-employed
    • Open a Student Blocked Account
      • Best Bank account for students
      • DKB Bank Account for Students
    • German bank accounts for non-residents
      • Open Comdirect bank account for non-residents
    • Information
      • Schufa Credit Score
      • Bank Cards
        • What is a Girocard?
        • V Pay – pay cash in Europe
        • What is a Maestro card?
        • What is Cash Group?
        • What is cash pool?
        • What should you do in case of loss of card?
      • Money Transfer
        • Local Money Transfer in Germany
          • What is a SEPA money Transfer?
          • Direct Debit Mandate
          • Wrong Transfer
        • International money transfer
          • Cheap money transfer options
      • Internet Banking
  • Deals
 

Best Bank account Deals

  • Commerzbank bonus - upto €175 + 11k miles joining bonus

    Valid till March 31, 2016- open a free Commerzbank account and get upto €175 euro as cash bonus and 11,000 award miles from Miles and More till March 31, 2016

  • Number26 bank now open to other countries!

    Now open to residents of Greece, Spain, Slovakia, France and Ireland. Open a free German bank account with free MasterCard.

  • Commerzbank Weekendbonus - €100 + 8k miles joining bonus

    Valid on weekends till further notice- open a free Commerzbank account and get €100 euro as cash bonus and 7,000 award miles from Miles and More till December 31, 2015

See the list of the best bank account promotional offers and deals in Germany

Read more

How to open a German bank account

A simple step-by-step guide on how to open a bank account in Germany. Open an online Germany bank account and documents required to open a German Bank account

Read More

Blocked Account in Germany

Applying for a student Visa, au pair or Jobseekers Visa? You need a blocked account. Guide with a comparison between Fintiba, X-patrio or Deutsche Bank blocked account and process what is a blocked account and how to open a student blocked account from your home country.

Read More

Free Credit Cards in Germany

List of credit card providers with free credit cards in Germany. Advantages of each free credit cards and compare the charges and information about the free credit card in Germany.

Free Credit Cards

Free Advanzia Mastercard Gold Credit Card

The Advanzia bank Free Mastercard Gold credit card offers a lifetime free Credit card with free foreign usage without any transaction charges, Mastercard Gold benefits including free travel insurance, and best option for students and expat new in Germany.

Read more!

Best Credit Card Deals

  • Hanseatic Bank - €30 Joining bonus free Credit card

    Apply for Free credit card before 19 April 2015 and get joining bonus of €30. Free Credit Card with Instant online approval, transfer to bank account from credit card and cash back offers.

  • Barclaycard New Visa Offer : €25 joining bonus for free Credit card till Aug 2014

    Apply by Sept 30, 2014 and get €25 joining bonus. Lifetime Free Credit Card with joining bonus.

  • GenialCard Offer - €10 cashback for free Credit card

    Apply by 31 May 2014 and get cashback of €10. Free Credit Card with Instant online approval, transfer to bank account from credit card and cashback offers.

See other best Credit Card promotional offers and Deals in Germany

Read more

Contact Us

  • Ask us
  • Impressum

Copyright © 2014 Banks GermanyTheme created by PWT. Powered by WordPress.org