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Q:

Can I cancel a Faster Payment after I’ve authorised it?

A:

You can cancel the payment up until the day before the payment is due to be sent (the credit date) but not if the payment status is ‘Processing'.

However, once the payment has debited your account, you can't recall it because the funds will be with the beneficiary. In this case, you should speak to your beneficiary directly about returning your funds.

If you can't contact your beneficiary, you should write to the bank the payment was sent to, enclosing a request (to be forward to their customer) for the funds to be returned.

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