The receiving bank has not remitted the money to the payee's account.
The payee's bank has remitted the money to the payee's account.
In either case, the remitting bank should be entrusted to send the information of applying for refund to the remitting bank as soon as possible. In the first case, the collecting bank will generally deduct its bank charges from the collection after receiving the message, which means that it is likely to be recovered; In the second case, the remittance bank will notify the payee after receiving the message, and will refund the money only after obtaining the written authorization of the payee and the instructions of who will bear the handling fee. Therefore, in the second case, it is best to contact the payee directly to reach an understanding (if the payee refuses to refund, the receiving bank has no right to deduct money), which can speed up the process and realize a smooth refund. For your reference!