International transfer declined
Qonto allows you to initiate international transfers to several countries around the world.
In some cases your transfer may be refused and we apologize for this. Our goal at Qonto is to communicate the reason for refusal as clearly as possible in the email you receive. But sometimes very little information is shared by our third-party provider.
Here are some guidelines and principles to know about international transfers, for two scenarios:
1. The document(s) provided are not valid or do not meet the criteria of our third party provider?
Learn more about the 📔 documentation requirements for international transfers at this link.
💵 You will not be charged if your international transfer is rejected.
2. Was your transfer rejected and no clear reason given to you? There are a number of cases in which it will not be possible to execute your transfers:
- Rejection for regulatory reasons, by our external partner or the beneficiary bank
- Insufficient funds to process the payment, as there may be fees on the banking network
- Incorrect or incomplete account information
- Finally, it is also possible that the beneficiary bank or the intermediary banks in the banking network have not communicated a reason.
👆 Good to know:
For SWIFT payments (USD outside the USA, GBP, EUR outside the SEPA zone), intermediary banks may deduct fees and if a transfer is returned to us by the beneficiary bank, we do not always receive the full amount initially sent.
Qonto will not charge any additional fees.
Example:
1,000 EUR is sent via the SWIFT network.
The recipient's bank rejects the payment, but only 975 EUR is refunded due to intermediary bank fees.
In this case, the refund will be 975 EUR.