Section 23, The Payment Systems Act, 2009

(1) Subject to subsection (3), if after a transfer has beenaccepted by the originator’s institution, the relevant amount is not credited to the account of the beneficiary’s institution, then without prejudice to any other claim which may be made, the originator’s institution shall refund to the originator the amount of the transfer plus interest calculated by applying the 9l-day treasury bill discount rate to the amount of the transfer for the period between the date of the transfer and the date of the refund, and the charges relating to the transfer paid by the originator. (2) If the transfer has been made using an intermediary institution, the institution which has accepted the transfer shall reimburse the originator’s institution against its liability under subsection (1), and in the event that the intermediary institution itself used another intermediary institution, it shall be reimbursed by that institution accordingly. (3) If the transfer was not completed because of an error or omission in the instructions given by the originator to his institution or because of non-execution of the transfer by an intermediary institution expressly chosen by the originator’s institution and any other institutions involved shall be to use its best endeavours to obtain a refund of the amount of the transfer, and may be subject to charges for the expenses incurred in connection therewith. PART V–FINALITY IN OPERATIONS