How do I know if a bank transfer has gone through?

Verifying Bank Transfer Completion

Confirming the successful completion of a bank transfer is essential to ensure that funds have been transferred as intended. Here’s a simple guide to help you verify the completion of your bank transfer:

Step 1: Request an Account Statement

Obtain an updated account statement from your bank, either online or in-person at a branch. The statement will provide details of all recent transactions.

Step 2: Locate the Transaction

Identify the transaction corresponding to the bank transfer you made. The transaction details will include the date, time, amount, and recipient’s information.

Step 3: Verify Recipient Account Details

Compare the last three digits of the recipient’s account number listed on the statement with the account number you provided when initiating the transfer. If the last three digits match, it indicates that the funds have been credited to the correct account.

Step 4: Note the Completion Status

Some bank statements may explicitly state whether the transfer is complete or pending. If the statement indicates that the transfer is “complete” or “processed,” it signifies that the funds have been successfully transferred to the recipient.

Step 5: Contact Your Bank (Optional)

If you cannot find the transaction on your statement or the completion status is unclear, you can contact your bank’s customer service department. They can provide you with the necessary information and assist in resolving any discrepancies.

Additional Tips:

• Save a copy of your transfer confirmation email or receipt.
• Keep a record of the recipient’s full account number for future reference.
• If you suspect any unauthorized or incorrect transfers, contact your bank immediately.
• Be aware that international transfers may take longer to process and may incur additional fees.

By following these steps, you can effectively verify the completion of your bank transfer and ensure that funds have been successfully transferred to the intended recipient.