What happens if you make a wrong transfer to your Nelo account?
If you transfer to your Nelo account by mistake, what happens depends on your situation: if you have active loans, the amount is applied to your debt and is non-refundable; if you have no active loans, the money is automatically returned to the source account, since your Nelo account does not store a balance.
The two possible scenarios
- With active loans: the transferred amount is applied to your loan payments and cannot be refunded.
- Without active loans: your Nelo account does not store money, so the amount is automatically returned to the source account.
How long does the refund take?
The refund is processed automatically and can take 24 to 72 hours to reflect in the source account, since it depends on the receiving bank’s processing.
