If contractors experience a failed withdrawal or a delayed withdrawal, they may need to provide additional documents to their bank to resolve the issue.
This article covers Frequently Asked Questions about how to handle unsuccessful withdrawals.
Failed withdrawals
[Accordion] Why did a withdrawal fail?
A withdrawal might be unsuccessful for a variety of reasons.
The most common causes are:
- Incorrect bank information
- Incorrect beneficiary bank information
- Incorrect personal details
- Bank rejection
- Closed customer bank account that cannot accept transfers
A declined withdrawal, however, is not a lost withdrawal. A failed withdrawal will be put back into the contractor's Deel Balance three to five business days after the initial failure date.
If the billing information on a contractor's Deel account does not match the information on their bank account, the bank may deny the withdrawal. This is a security feature of the bank to protect the contractor and their deposits. In this case, funds will bounce back and then be credited to the contractor's Deel Balance.
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Delayed processing
[Accordion] Why hasn't the withdrawal been sent yet?
Typically, processing times take a few hours to complete.
Sometimes manual processing may be necessary due to difficulties reading the withdrawal.
If a withdrawal is still being processed after a full 24 hours, the contractor may cancel it and try again.
[Accordion] What if the estimated arrival date has passed?
If the money hasn't arrived yet, contractors should first check their accounts to ensure their name, account number, and other account details are correct.
Then, they should download a PDF statement with the withdrawal details and send it to their bank. If the statement has a Trace ID, the bank can use this code to check the status.
If the account information is incorrect, the money will be refunded in 3 to 5 business days. It's important to note that Deel can't expedite the refund process, as it depends on the bank.
Unfortunately, Deel can't undo payments to crypto platforms or wallets.
If the estimated time of arrival for a withdrawal has passed, contractors should log into their accounts and schedule a phone call with a Deel Support agent. They should have a bank statement covering the dates from when the withdrawal was initiated until the last day of the ETA.
[Accordion] What if the bank can’t find the funds?
If the bank is unsuccessful in locating the funds even with the Trace ID, contractors should reach out to Deel again for further investigation.
They will need to provide a bank statement from the date of the withdrawal through the present day or written proof of communication from the bank stating they cannot locate the funds.
Deel will then escalate the situation internally to find answers for the contractor.
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Withdrawal documents
[Accordion] What documents are needed by the bank for a delayed withdrawal?
For contractors who have experienced a delayed SWIFT withdrawal, the following documents and information are typically required to assist their bank in investigating the issue:
1. Trace ID (UETR - Unique End-to-End Transaction Reference): This unique code helps the bank track and investigate the reasons for non-receipt. Contractors can find the Trace ID by navigating to the Finance icon the Deel app homepage and clicking on the Transactions tab, selecting the specific withdrawal transaction, and viewing the confirmation statement.
If contractors have not received their funds by the expected arrival date, they should contact Deel's support team and provide documentation of non-receipt, such as the bank statement mentioned above. Deel's agents will promptly investigate the withdrawal issue.
It's important to note that most payment providers, including banks, typically do not process payments on weekends and public holidays, which may affect the timing of fund transfers.
[Accordion] What is a Foreign Inward Remittance Certificate (FIRC) and what is a Non Objection Certification (NOC)?
A Foreign Inward Remittance Certificate (FIRC) is a document that acts as proof that an individual or business has received a payment in a foreign currency from abroad.
Individuals or businesses may require a FIRC for certain service tax exemptions.
FIRC documents are often important for Deel contractors living in India because service tax is not levied on certain services provided outside India.
Non Objection Certification (NOC) documents are sometimes used by banks to issue FIRC documents.
After contractors send documents to their receiving bank, the bank will generate an Inward Remittance (IRM) number in India’s Export Data Processing and Monitoring System.
[Accordion] How to request a NOC?
Deel will provide a Non Objection Certification (NOC) document that contractors can forward to their bank for the issuance of a FIRC.
Our payment provider uses NOC documents to issue FIRC documents.
Contractors must inform us that they will need a NOC when adding their Bank Transfer Withdrawal Method on the Deel app.
Once requested, contractors will be able to download the NOC from their profile within several business days.
To find the NOC document, contractors should navigate to Finance Icon > Transactions tab, click on the specific withdrawal Transaction, and then review the Withdrawal Details.
Deel will not cover any fees associated with acquiring a FIRC from other payment service providers.
If a contractor needs to personally request a FIRC, Deel may be able to provide some guidance based on our knowledge of how the payment was routed.
Please note, Deel cannot provide a NOC if the contractor did not request it when setting up the bank transfer withdrawal or if a different withdrawal method was used.