Handling Withdrawals to the Wrong Bank Account on Dabble
Making a withdrawal to the wrong bank account can be a stressful experience. This guide explains the steps you should take depending on the stage of the withdrawal process and your specific scenario when using Dabble.
Before the Withdrawal is Approved
If your withdrawal has not yet been approved and the status is not marked as 'Paid,' you may be able to cancel the withdrawal and re-submit it to the correct account. To request a cancellation, contact Dabble's customer support immediately. If the withdrawal status is already "Approved" or "Paid," Dabble cannot cancel the transaction. You will need to work directly with your banking institution to retrieve the funds.
Funds Sent to the Wrong Account
If Bank Details Were Entered Incorrectly
Incorrect BSB Number: If the BSB number is wrong but the account number is correct, your bank might still credit the funds, but it could take longer. Alternatively, funds may bounce back to your Dabble allouth the time frame for this will be dependant on the bank and unknown to Dabble.
Other Incorrect Bank Details: If your bank account details are entirely incorrect, the funds must be returned by the receiving bank. This process can take several weeks. Once returned, the funds will be credited back to your Dabble account, and you will be notified via email.
If the Receiving Bank Accepts the Funds Incorrectly
If the receiving bank accepts the funds instead of rejecting them, you will need to work with your bank to retrieve the funds since the payment has settled to the wrong account. This may involve the originating bank sending a reversal request or a letter of indemnification to the receiving bank. Contact your bank to initiate this process. Dabble also collaborates with originating banks during such cases.
Preventing Future Errors
To avoid errors in the future, ensure your bank account details are updated and accurate in your Dabble profile. If you need to change any details, Dabble can assist with removing outdated accounts, enabling you to add the correct ones for future withdrawals.
Being proactive and ensuring accurate bank details can prevent errors during withdrawals. If the worst happens and you withdraw to the wrong account, the outlined steps will help you resolve the situation on Dabble.