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Old 08-18-2008, 05:49 PM   #1
Sebring Studios
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Direct deposits/wire transfer

Is it possible to stop payment on a direct deposit if the funds are already in the recipients account? My logic says no but want other opinions.

Last question tonight, I promise.
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Old 08-18-2008, 06:14 PM   #2
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how can you stop it if the funds are already deposited? what is there to stop? the transaction has been completed
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Old 08-18-2008, 07:07 PM   #3
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On a wire transfert you can ask your bank to send a request to have the money returned but beneficiary have to authorize it. Append to me once when I sent a wire transfert and copy/pasted wrong info. There's no other way...

Last edited by x-rate; 08-18-2008 at 07:07 PM.. Reason: typo
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Old 08-18-2008, 07:13 PM   #4
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Quote:
Originally Posted by Sebring Studios View Post
Is it possible to stop payment on a direct deposit if the funds are already in the recipients account? My logic says no but want other opinions.

Last question tonight, I promise.

Are you trying to reverse a payment? I am 99% sure that you can't.
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Old 08-18-2008, 07:25 PM   #5
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Are you trying to reverse a payment? I am 99% sure that you can't.
No, the opposite. I was afraid someone else might try to. Frankly I don't know the guy and never dealt with him before so I was curious.

After thinking about I see there's no way that could happen.
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Old 08-19-2008, 03:51 AM   #6
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In theory - I may be very wrong on this - a direct deposit is like an ach check deposit - I think.
So, again in theory, it might be reversible.
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Old 08-19-2008, 11:11 AM   #7
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non reversible. period
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