§ 1005.34. Procedures for cancellation and refund of remittance transfers.
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/us/cfr/t12/s§ 1005.34·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Sender right of cancellation and refund. Except as provided in § 1005.36(c), a remittance transfer provider shall comply with the requirements of this section with respect to any oral or written request to cancel a remittance transfer from the sender that is received by the provider no later than 30 minutes after the sender makes payment in connection with the remittance transfer if:
(1)The request to cancel enables the provider to identify the sender's name and address or telephone number and the particular transfer to be cancelled; and
(2)The transferred funds have not been picked up by the designated recipient or deposited into an account of the designated recipient.
(b)Time limits and refund requirements. A remittance transfer provider shall refund, at no additional cost to the sender, the total amount of funds provided by the sender in connection with a remittance transfer, including any fees and, to the extent not prohibited by law, taxes imposed in connection with the remittance transfer, within three business days of receiving a sender's request to cancel the remittance transfer.
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§ 1005.34
Procedures for cancellation and refund of remittance transfers.
Fed. Reg.×4
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