Open navigation
Search
Search

Select your region

No liability for recipient banks when transfers go wrong

Will the bank customer be out of pocket when mistakes happen?

10 Feb 2015 Austria 7 min read

On this page

Authors

A bank customer makes a mistake when filling out a bank transfer form and enters the wrong number, resulting in the money landing on the wrong account. The recipient bank is, since the introduction of the regulations of the Austrian Payment Services Act, no longer liable for this. This was confirmed by the Supreme Court in their decision 2 Ob 224/13z (Supreme Court 23/10/2014).

Full article in German

Back to top Back to top
Warning: Fraudulent emails and messages