Transfer money from company to inactive bank account

sonapurnama
sonapurnama Member Posts: 2
ive asked for payout in dittomusic for the royalti using payoneer.
and transfer is completed, i received email from payoneer that my money has been transfered to my account.
BUT i forgot that my bank account isnt active anymore, i called my bank and they told me that i havent used my account for 6 months so they closed it. and my bank account cannot receive any transfer anymore,

so where is my money right now?
the bank told me that my account cannot receive money, but payoneer told me in my email that the transfer is completed.

what should i do? pls help

Comments

  • EdwinPayoneer
    EdwinPayoneer Confirm Email, Member, Administrator Posts: 366 ✭✭✭✭✭✭✭

    Hi there @sonapurnama . In cases where funds are sent to an inactive account we must wait for the funds to be cancelled and reversed by the bank. This process can take some time. Its usually between 10 business days to a full month before the funds would be returned.

  • moistu7
    moistu7 Member Posts: 1
    Hi @EdwinPayoneer this is the same case as with my latest transaction. I made a money transfer from payoneer this may 4, 2020 to my local bank account not knowing that it is nonactive or a closed account(closed since april 27, 2020, recently checked at the local bank outlet).

    DO i need to wait for 10 business days to a full month before the funds would be returned? how can i be assured that after this long wait my money will still be at my account? or CAN i cancel my transaction? it has been 3 business days since my transaction, would i be able to cancel this transfer if in my payoneer account transaction details says it is COMPLETED???

    What should i do? please i need your guidance about this matter. Thankyou in advance!
  • moistu7
    moistu7 Member Posts: 1
    Hi, I made a money transfer from payoneer this may 4, 2020 to my local bank account not knowing that it is a nonactive or a closed account(closed since april 27, 2020, recently checked at the local bank outlet this may 8,2020).

    DO i need to wait for 10 business days to a full month before the funds would be returned? how can i be assured that after this long wait my money would still be at my account? or CAN i cancel my transaction? it has been 3 business days since my transaction, would i be able to cancel this transfer if in my payoneer account transaction details says it is COMPLETED???

    What should i do? please i need your guidance about this matter. Thankyou in advance
  • GianmarcoPayoneer
    GianmarcoPayoneer Confirm Email, Administrator Posts: 2,241 ✭✭✭✭✭✭✭

    @moistu7 Hello,

    If the transfer was already sent to a bank account that was already closed, you will need to wait until the funds get rejected and returned. This can take anywhere from 7 to 14 business days.

    Thank you.

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