Lydia checks the conformity of the IBAN format when a transfer is made to a bank, but Lydia has no way of verifying whether the bank account is valid or not. If the user requests a transfer to a bank account that has been closed, Lydia cannot detect it.

The recipient bank will notify Lydia by rejecting the transfer within a few days. This stage can take several days, up to 15 days in the longest cases.

Within 3 working days of the bank rejecting the transfer, the user's Lydia account is automatically credited with the amount of the transfer, and the erroneous IBAN is deleted. The user is notified of the operation by email.

The user must then request another transfer to his bank, if the user still wishes to do so, but this time with a different IBAN.

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