EFT Group Recall/Reverse

To recall or reverse a group of items, the following minimum information is required:

1. Select the Scotia Direct Service Agreement from the drop-down list.
2. Enter the File Creation number of the outgoing file that contained the item.
3. Enter the Criteria for the items to be recalled/reversed.
1. The range of the Cross Reference Numbers of the items, or
2. The range of the Amounts of the items, or
3. The Due Date range of the items.

Once the above information is entered, press the Search button.

Electronic Funds Transfer (EFT) Recalls and Reversals

Your EFT payments should not be sent to Scotiabank until you are certain all of the information is correct.

In the event that you discover an error after the payment file has been sent, you may be able to initiate a ‘recall’ or ‘reversal’ of an individual payment, a group of payments or the entire file of payments. The time period, within which a recall or reversal can be initiated is governed by a combination of the payment(s) due date, the input lead-time you provided and the inter-financial institution EFT exchange times, as mandated by the Canadian Payments Association (CPA).

· Each payment initiated for a given due date should be assigned a unique cross-reference number (the unique identifier used by you internally to identify your records) to simplify payment identification.

· Initiate your request using the ScotiaConnect EFT Recall function. If the payment(s) has already been released for processing you may be offered the option of initiating a reversal or be informed that no further action can be taken

Recalls

Recall of a single payment, group of payments, or an entire file of payments can only be initiated while the payment is still within the control of the EFT system. Once the system has released the payment(s) for posting to Scotiabank accounts or to other financial institutions the payment cannot be recalled. The time period, within which a recall can be initiated is governed by a combination of the payment(s) due date, the input lead-time provided and the Canadian Payments Association (CPA) mandated inter-financial institution EFT exchange times.

Reversals

Reversal of a single payment, group of payments, or an entire file of payments can be initiated if the payment(s) cannot be recalled (has already been released for processing by the EFT system) and in accordance with CPA Rules, the reversal is initiated within three (3) days of the original payment(s) due date. There is no finality with a reversal transaction. You should have the authorization of the intended recipient prior to initiating a reversal transaction. The recipient of the original payment, which will have been posted to their account, may have already instructed their financial institution to return it, which will result in them also initiating return of your reversal item.

· The results of your request to recall/reverse a payment(s) will usually be confirmed during the on-line ‘request’ session.

· You can review the results of prior recall/reversal activity, using the ScotiaConnect Recall History function.

The recall/reversal charge, in accordance with the fees outlined in the Scotia Direct Schedule of Rates, will be included on your monthly Scotia Direct Customer Billing Statement.

Related Topics

Item Recall

File Recall

Recall History