What Happens When You Send Money to a Wrong IBAN?
Sending money to an incorrect IBAN can result in failed payments or — in rare cases — funds going to the wrong account. Here is what happens and what to do.
Scenario 1: The IBAN Fails the Checksum
If the IBAN's MOD-97 checksum fails, most banks will reject the payment before it is even processed. You will receive an error message and your funds will not leave your account. This is the most common outcome for a typo.
Always validate the IBAN before submitting a payment to catch these errors instantly.
Scenario 2: The IBAN Is Valid But Belongs to the Wrong Account
If the IBAN passes the checksum but belongs to a different account, the payment will be processed normally. The funds arrive at the wrong bank account. This is rare since a single digit change usually breaks the checksum — but possible if numbers are transposed in specific ways.
What to Do If Payment Goes to Wrong Account
- Contact your bank immediately with the transaction reference
- Your bank will contact the recipient bank to request a recall
- Under EU regulations, banks must cooperate on payment recalls
- The process typically takes 5–15 business days
- If the recipient refuses to return the funds, legal proceedings may be necessary
Prevention
The best prevention is validation before sending. Use our IBAN validator and double-check the first four characters (country code + check digits) against the country format pages.