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Old 24.02.2011, 16:59
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Opposition on e-banking transaction through UBS

I have a doemstic transfer within Switzerland and now I want to cancel the transaction by contesting it.
Do anyone has any experience on it? Does bank charge you anything for this?
Thanks for any feedback!
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Old 24.02.2011, 17:01
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Re: Opposition on e-banking transaction through UBS

Nope. Should be straight forward. Go into your ebanking account and the account transfers tab and hit the option which says pending orders. Then select the order you want to cancel and say delete. That should stop it.

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I have a doemstic transfer within Switzerland and now I want to cancel the transaction by contesting it.
Do anyone has any experience on it? Does bank charge you anything for this?
Thanks for any feedback!
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  #3  
Old 24.02.2011, 17:07
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Re: Opposition on e-banking transaction through UBS

Sorry, i should have specified that the order was already executed last week!

I am seeking now the way to oppose the transaction. One way is to ask the beneficiary to pay-back but it's not possible, so now the only way left is through my bank.
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Old 24.02.2011, 17:29
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Re: Opposition on e-banking transaction through UBS

Ahhh.. My bad. There could be a small fee for that but I would reckon the UBS Customer Service should be able to tell you exactly what that is.

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Sorry, i should have specified that the order was already executed last week!

I am seeking now the way to oppose the transaction. One way is to ask the beneficiary to pay-back but it's not possible, so now the only way left is through my bank.
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Old 24.02.2011, 17:41
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Re: Opposition on e-banking transaction through UBS

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Sorry, i should have specified that the order was already executed last week!

I am seeking now the way to oppose the transaction. One way is to ask the beneficiary to pay-back but it's not possible, so now the only way left is through my bank.
The bank will not reverse the transaction if the money has already been received by the beneficiary bank. If the payment was a charge against your account, originating from the beneficiaries bank then you may have a case, but as you have sent this money as an instruction, rather than it being charged or agreeing to it being debited by the beneficiary there is little you can do.
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Old 24.02.2011, 17:51
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Re: Opposition on e-banking transaction through UBS

I just called the customer service. They told me i can contest the transaction and UBS will seek an approval from beneficiary for pay-back. The cost of this service is zero!

I was very surprised to have such a good service. Is it too good to believe?

Also, is there a possibility that the beneficiary can refuse?
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Old 24.02.2011, 17:56
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Re: Opposition on e-banking transaction through UBS

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Opposition is allowed generally on transactions. Though I'm not sure how it works in Switzerland.
You gave your bank an instruction to pay the beneficiary some money. They executed it in good faith.
There is nothing to contest with a willing transfer.

Had a shop debited your account with a wrong amount, or the goods were faulty , you could contest it. But as I will say again, you have given your bank an instruction to transfer money. They have no authority or mandate to debit the beneficiaries bank account, and neither does the beneficiaries bank, unless the beneficiary is a merchant who has subscribed to card services and the amount was debited using your card. It wasn't. You sent the money, he did not take the money from you directly.
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Old 24.02.2011, 18:02
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Re: Opposition on e-banking transaction through UBS

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They told me i can contest the transaction and UBS will seek an approval from beneficiary for pay-back.
And if the beneficiary says no..?
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Old 24.02.2011, 18:04
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Re: Opposition on e-banking transaction through UBS

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Also, is there a possibility that the beneficiary can refuse?
Of course there is a possibility. They see FREE MONEY and decide to keep it. You obviously (probably )know this person if you had set up a standing order so you would know better than any of us if they are likely to refuse.
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Old 24.02.2011, 18:09
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Re: Opposition on e-banking transaction through UBS

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Of course there is a possibility. They see FREE MONEY and decide to keep it. You obviously (probably )know this person if you had set up a standing order so you would know better than any of us if they are likely to refuse.
Unfortunately it's not a person but an organization. I made a mistake in their account and sent to other branch of the same organization and now because of all bureaucratic reasons, payment can't be refunded by them.

However, if my bank goes to them and asks for approval, would they refuse? I didn't seek their service anyways and it's actually the free money they have..
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Old 24.02.2011, 18:18
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Re: Opposition on e-banking transaction through UBS

You're in luck because organizations will usually return the payment.

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Unfortunately it's not a person but an organization. I made a mistake in their account and sent to other branch of the same organization and now because of all bureaucratic reasons, payment can't be refunded by them.

However, if my bank goes to them and asks for approval, would they refuse? I didn't seek their service anyways and it's actually the free money they have..
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Old 24.02.2011, 18:29
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Re: Opposition on e-banking transaction through UBS

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You're in luck because organizations will usually return the payment.
Not too sure with this ******* organization :-((
It's not a Swiss org.. I talked to them and they kind of told me to forget about this money. Or to go and seek service in their Bern branch where I made the payment.
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Old 25.02.2011, 11:14
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Re: Opposition on e-banking transaction through UBS

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I just called the customer service. They told me i can contest the transaction and UBS will seek an approval from beneficiary for pay-back. The cost of this service is zero!

I was very surprised to have such a good service. Is it too good to believe?

Also, is there a possibility that the beneficiary can refuse?
No, my bank clerk even advises me on tax returns and writes letters for me This is Switzerland. But then, I live in a small village... Maybe that's the answer
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