Can I Cancel a Withdrawal After It Has Been Sent, and What Happens If the Details Are Incorrect?
Once a withdrawal has been sent from your Thera account to your bank, it cannot be canceled. This is because the transaction is already in the banking network, and reversal is not possible at this stage. Below, we provide further details on why cancellations are not allowed, what happens if the withdrawal details are incorrect, and the expected timelines for refunds and settlements.
Why Can't Withdrawals Be Canceled?
After a withdrawal is initiated and sent to your bank, it enters the banking network for processing. At this point, the transaction is beyond Thera's control and cannot be reversed. Posting times for withdrawals vary depending on the bank and the transfer method used:
Many transfers appear in your bank account within 48 hours.
ACH transfers may take up to 3 business days to fully settle.
Please note that weekends and holidays are not considered business days, which may extend the settlement time.
What Happens If the Withdrawal Details Are Incorrect?
If the withdrawal details provided are incorrect, the payment is expected to bounce back. In such cases, the refunded amount will be credited back to your Thera account. This process ensures that funds are not lost due to incorrect information.
Key Takeaways
Withdrawals cannot be canceled once sent to the bank.
Incorrect withdrawal details typically result in the payment bouncing back, with the funds being refunded to your Thera account.
Settlement times vary by bank and method, with ACH transfers taking up to 3 business days.
For further assistance or specific concerns about your withdrawal, please contact Thera's support team.