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If a State Bank Group Transfer transaction is not credited to the beneficiary account, does the Remitter get back the money?

April 26, 2017account Bank Beneficiary credited group money remitter State transaction transfer

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If a State Bank Group Transfer transaction is not credited to the beneficiary account, does the Remitter get back the money?

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Yes. If the money cannot be credited for any reason, the beneficiary’s bank has to return the money to the remitting bank. Once this amount is received back by the remitting bank, the amount is credited to the Remitter’s account by the remitting bank branch.