Reverse money using the Capitec app
While transferring money from one account to another, many of them prefer using the Capitec app. But thinking the app to be a full-proof device, people often miss the point that the account entries need to be made manually. While making manual account detail entry, many people either miss entering the correct details or otherwise, forget to counter-check the details again and again before making the transactions.
Once the payments are released from your app and they are sent from your end, you can still reverse them. Reversing payments can be done for all the authorized transactions you’ve made from your end. However, once you have authorized your transactions, there is very little that you can do towards them.
Thus, reversal of payments can be done at this stage, however, instant transfers cannot be undone at this point, by any means. Reversal of payments can be done using four different ways.
To reverse payment on Capitec app, you will either
- Need to run to a bank branch wherein they can help you physically in reversing an order,
- Or click open the app where making reversal is instant and easily possible than any of the other three methods.
- Further, you can also use the USSD code and
- Also use the 24-hour call center here for which you have to raise your request to make the reversal happen.
The Capitec immediate payment reversal of money can only be done for unauthorized payments and if you have authorized any payments, you will not be able to reverse it with Capitec.
How to reverse EFT payment on Capitec app?
Ideally, an electronic fund transfer cannot be reversed without the consent of both parties- the one who sends the amount and the one who received the amount.
If the one who received the amount agrees to transfer it back to your account once he or she receives it, only then can you get the money back which is difficult mostly?
EFT (Electronic Fund Transfers) can be done with the Capitec app. But once done money can’t be reversed on the Capitec app if there is any situation wherein you have either filled in the wrong details anywhere while using the Capitec app.
How long does it take to reverse money from Capitec app?
To reverse money on the Capitec app, you will have to take down the following steps.
- Open the mobile banking app and click on Transact tab. Now, choose debit order and add your private remote PIN.
- Choose a particular debit order from the transaction history and choose a debit order dispute reason.
- Click on the accept button.
- Any amount above R800 cannot be disputed.