You will receive an automated email confirmation advising when we have settled a transaction. The status of the transfer will update to ‘Completed’ on the platform in Payment History. This means we have made the payment as per the instructions provided and are now waiting on funds to arrive with the recipient.
FAQ > Payments
Has my payment been made to a beneficiary?
When will my funds arrive with the beneficiary?
Funds will be released on the ‘delivery date’ noted on the trade confirmation email.
The money still has not arrived with the beneficiary?
Double check the recipient’s bank details against the details in the payment confirmation and make sure they match.Are there any other external factors that could delay the payment such as a bank holiday?
To help avoid delays on payments, always reference your payments clearly and pass the reference details onto the beneficiary so they know to look for it.
If the money has not arrived and there is no reasonable explanation, please contact the Mayfair FX team.
Why have my funds been returned?
If a payment fails, then you will be sent an email with the reason given by the recipient’s bank for the failure.
You need to speak with the beneficiary’s bank directly for instructions on avoiding a returned payment again.
The most common reasons are incorrect details (e.g. account number or beneficiary name) being submitted on the payment.
I’ve realised that beneficiary details are wrong. What do I do?
On Swift payments, we can try to recall funds that have been sent to an incorrect account. This is not always successful as it relies on the co-operation and approval of the receiving bank and the beneficiary.
The best way to get funds returned is to contact the receiving bank directly, inform them of the situation and get them to reject the payment.
Please note, we cannot amend beneficiary details retrospectively once a payment has been released.