For EUR and cryptocurrencies, a transaction can fail for a multiple number of reasons, some of them are related to the network where the transactions are processed, another could be that the amount sent could not be confirmed towards the current balance in the accounts. In some cases, the information submitted for the receiver is incorrect and may lead to a failure.

If your transaction has its status as “Failed” reach out to customer support for assistance, so they can investigate and confirm the reason for the failure.

Yes, however, a transaction can be cancelled only while on “Pending” status. 

To do so, you can follow these simple steps:

1. On the homepage, tap over the “Activity” icon located below your general account balance.
2. Locate the transaction you would like to cancel and tap on it. 
3. You will see the transaction details and at the bottom the option “Cancel transaction”. Please note that once the transaction has been sent to a recipient’s bank or has been broadcasted to the blockchain, you can no longer cancel the transaction. 
4. Confirm that you would like to cancel the transaction. 

Your transaction is now cancelled.

In this case the operation will be cancelled automatically by our system, the money will not leave the account as we verify the destination through our Open Banking provider.

Remember that within Lama you can only make EUR transactions to accounts that are under the same name. Therefore, if you make a transaction to an account that is not under your name, it will be cancelled.