Sending money has become incredibly convenient during the COVID-19 pandemic. We can now effortlessly make digital transactions. But sometimes even the best of us make an unintentional slip and send money to the wrong person. Are you wondering about how to reverse money on Capitec App?
If you have made an unintentional slip and sent money to the wrong person. Then do not worry as being a Capitec Bank customer you can reverse money on Capitec app sent wrongly.
In this guide, you will learn all about how to reverse money on Capitec app. Following the simple steps toreverse money on Capitec Bank recover your funds if the unintended recipient has not accessed them.
What Is Capitec Bank?
Capitec Bank is a leading bank in South Africa. It has millions of clients who bank through its innovative banking solution known as Global One. Here is all you need to know about how to reverse money on Capitec app.
How To Reverse Money Using Capitec App:
Here is a solution on how to reverse money on Capitec app
- Open your Capitec Mobile Banking App.
- Select Transcat from the list of options.
- Tap on Debit Orders and enter your remote pin.
- Go to your transaction history.
- Tap on the transaction whose money you want to reverse.
- Provide a reason for reversing your money and accept the terms and conditions.
- Click Submit and your money will be reversed.
Criteria To Reverse Money On Capitec App
Read on to know the criteria to reverse money using the Capitec App:
- If your Capitec app is used without your knowledge or consent, the reversal process can be initiated to correct the unauthorized transaction.
- If you were charged twice for a single purchase, you can reverse money using the Capitec App.
- On payments being made in error due to an accidental keystroke or a misunderstanding of the payment process, you can reverse money using the Capitec App.
- If you have been misled to make a payment under pretences you can initiate a transaction reversal.
How To Reverse EFT Payment On Capitec App?
An electronic funds transfer (EFT) is used to send money from a sender’s account to a recipient’s account. Capitec has urged customers to be cautious when using EFT as funds electronically transferred by mistake will not be refunded.
However, if the transfer was done in a crooked manner customers can apply for a refund using the Capitec app. Follow the steps shared above to do so.
Payments disputed within 40 days can be reversed in a few working days post meeting a set criteria. However, the complaints that were lodged after 40 days can take a bit longer.
Capitec assists with disputes for debit orders of R800 and below via the app. But if the transaction exceeds R800, you need to visit the Capitec bank for further assistance.
It is always important to check and reconfirm all the recipient’s details. But if you have transferred to the wrong recipient, do initiate a reversal as soon as possible. Hope you found this article helpful.