Mistakes happen, and it is possible to transfer money via MB WAY to the wrong number. The issue is that these transfers are immediate and cannot be canceled.
“Transfers on MB WAY are immediate, so there is no mechanism to cancel these transfers after confirmation on the app. Only transfers pending acceptance can be canceled in the MB WAY app,” states the application’s website.
However, one should know that “when sending money, it’s possible to confirm the name of the account holder before confirming the transfer.”
“The account holder’s name may differ from the contact if they are not the primary holder. If you do not recognize the name, confirm it is the recipient you intend to send money to,” recommends MB WAY.
What if you send money to another number?
“If you have mistakenly sent money to another recipient, you should attempt to contact the person as soon as possible to resolve the situation,” advises the application.
“To verify your transfer, you can download the receipt from the MB WAY app’s Activity and forward it to the recipient,” the site reads.
And if it is not possible? “If you can’t resolve it directly with the recipient, you may approach your bank and present the situation.”
The key is “to act quickly since there are deadlines for such requests.”
“Therefore, we advise you to contact your bank as soon as possible to clarify applicable procedures and deadlines,” recommends MB WAY.
Can you send money to a contact who is not on MB WAY?
According to the SIBS group brand, “yes, you can.”
“The contact will receive an SMS informing that they have a pending transfer and need to join MB WAY within 48 hours. If they join within this period, they will receive the money directly in their account. If not, there’s no outflow of money from your account,” it states.
Does sending money through MB WAY incur any costs?
According to the application, “transfers may have associated costs charged by banks,” and “to know the applicable rate(s), users should consult the bank(s) with which they joined the service.”
“There are 28 member banks covering more than 95% of Portuguese banks,” notes the application.
Additionally, “the MB WAY app clearly presents the user with any applicable fees before ‘sending money’ through an immediate transfer, allowing the user to cancel the operation at that point.”
MB Way has become the first Eurozone app to enable ‘contactless’ payments via NFC on iOS phones. The option was previously available for Android, and on the iPhone, it could only be found on Apple Pay.
