Why should I act quickly?

An incorrect booking is annoying, but as a rule, transfers can be easily reversed as long as they have not yet been completed - this usually happens within a day, so you have 24 hours to do so. After that, the process becomes more complicated.

What if I notice it too late?

Then you have to rely on the bank to identify the recipient and ask them to return the amount. The bank itself cannot do this. You must therefore hope for a recipient who is willing to cooperate. There is no guarantee of a refund.

Recipient refuses - what now?

If the recipient refuses to repay, you should take legal action and file a complaint. To do this, your bank must provide you with the recipient's address. The entire process is called revoking a transfer and costs around five to ten euros.