1. Open the Capitec App and Log In
First, open the Capitec app on your mobile device and log into your account. Navigate to the ‘Transfers’ tab.
If you don’t have a Capitec Bank App yet, you can get it in this link: Download Here Your Capitec Bank App.
2. Go To Transactions
- This Tab Serves as the gateway with a lot of trading options that Capitec Can Offer;
- Select Debit Order Options;
- Put your REMOTE PIN (It serves as a certification that allow only authorized peoples initiate Financial Changes);
- Scroll and find the money transfer you need to reverse. Tap on it to open the transaction details.
3. Select ‘Reverse’
Tap the ‘Reverse’ button. This will initiate Capitec’s reversal process.
4. Confirm the Reversal Details
Carefully check the recipient’s account number and other reversal details. Then tap ‘Confirm’ to complete the reversal request.
5. Provide Any Extra Information Requested
Capitec may request extra information or details about the reversal. Supply any info asked for promptly to ensure your reversal is processed quickly.
And you’re done! Capitec will review your request and refund the reversed amount within 2 business days if approved.
Key Information Needed to Reverse Capitec Transfers
To avoid delays, it helps to have these details on-hand when initiating a reversal on the Capitec app:
- Recipient’s Account Number– The account the money was erroneously sent to
- Date of Original Transfer– When the incorrect transfer happened
- Transfer Amount – The specific rand amount you need reversed
- Reason for Reversal – Like ‘wrong recipient’ or ‘incorrect amount’
Providing this info accurately helps Capitec quickly identify and reverse the problem transaction.
What If the Transfer is Over 40 Days Old?
Capitec can only reverse transfers within 40 days of the original transaction date. After this, reversals on the app are not possible.
If it has been over 40 days, you need to contact Capitec Bank’s customer care and lodge a formal dispute. Provide the same details outlined above and clearly explain why you need the old transfer reversed.
While not guaranteed, Capitec will review disputes on a case-by-case basis. So it’s still worth contacting them to reverse really old or large erroneous transfers.
Can Third Party Transfers be Reversed?
If the wrong transfer was sent from another bank like FNB or Standard Bank into a Capitec account, the reversal process is trickier.
You need to log a dispute directly with the bank that made the incorrect third party transfer. Capitec cannot reverse third party transfers from other banks on their app.
So urge the bank where the transfer originated to lodge a formal reversal request as soon as possible. Provide them the same key details to initiate the third party reversal process.
Be Cautious When Reversing Capitec Transfers
While reversing incorrect money transfers is straightforward on the Capitec app, you still need to be cautious. Double-check all the reversal details before confirming to avoid new mistakes.
And only reverse transfers made to the legitimately wrong recipient. Reversing transactions without a valid reason can get you in legal trouble.
Key Takeaways: Reversing Money on Capitec
- Act quickly to reverse incorrect transfers within 40 days of the transaction.
- Have the recipient’s account number, transfer date, amount, and reason handy.
- Carefully confirm reversal details before submitting the request.
- For older transfers, dispute directly with Capitec Bank.
- If from another bank, get them to reverse the third party transfer.
- Be cautious and only reverse legitimately wrong transfers.
By following this tutorial, any Capitec customer can quickly reverse a wrong money transfer directly from the app. Saving time, frustration, and ensuring your hard-earned cash goes where it should.
Frequently Asked Questions
Q: How do I reverse money using the Capitec app?
A: To reverse money using the Capitec app, follow these step-by-step instructions:
1. Open the Capitec app on your mobile device.
2. Login to your account using your username and password.
3. Once logged in, select the “Transactions” option.
4. Find the transaction that you want to reverse and tap on it.
5. Scroll down and select the “Reverse” option.
6. Confirm the reversal by providing the necessary information.
7. Review the details and confirm the reversal again.
8. Once confirmed, the money will be reversed and returned to the original account.
9. You will receive a notification and a confirmation that the transaction has been successfully reversed.
10. Keep in mind that not all transactions can be reversed, so it’s important to check the terms and conditions or contact Capitec support if you have any doubts or questions.
Q: Can I reverse a debit order using the Capitec app?
A: Yes, you can reverse a debit order using the Capitec app. Simply follow the steps mentioned above to reverse a transaction, and select the debit order you want to dispute or reverse. Provide the necessary information and confirm the reversal. Keep in mind that there may be specific conditions or time limits for reversing certain debit orders, so it’s always best to check with Capitec or refer to your account’s terms and conditions.
Q: Is there a fee to reverse a transaction using the Capitec app?
A: Capitec bank does not charge a fee for reversing transactions using their app. However, please note that other fees may apply depending on your account type and the type of transaction being reversed. It’s always a good idea to review your account’s fee schedule or contact Capitec directly for more information.
Q: How long does it take for the money to be reversed?
A: The time it takes for the money to be reversed using the Capitec app can vary depending on various factors, such as the type of transaction being reversed and the bank’s processing times. In general, it may take a few business days for the reversal to be processed and reflected in your account. If you have any concerns or if the reversal takes longer than expected, it’s recommended to contact Capitec support for assistance.
Q: What information do I need to provide to reverse a transaction?
A: When reversing a transaction using the Capitec app, you will typically need to provide the following information:
– Transaction details (such as the transaction reference or ID)
– The account details involved in the transaction (such as the account number)
– The reason for reversing the transaction (if applicable)
Make sure to double-check the accuracy of the information provided to avoid any delays or errors in the reversal process.
Q: Can I reverse a cash payment made through the Capitec app?
A: Yes, it is possible to reverse a cash payment made through the Capitec app. Simply follow the instructions mentioned earlier and select the cash payment transaction you want to reverse. Provide the necessary information and confirm the reversal. Keep in mind that reversal of cash payments may have certain conditions or time limits, so it’s recommended to review your account’s terms and conditions or contact Capitec support for more information.
Q: Can I reverse a transaction without going to a Capitec branch?
A: Yes, you can reverse a transaction using the Capitec app without having to go to a Capitec branch. The app allows you to manage and perform various banking activities, including transaction reversals, from the convenience of your mobile device. Simply follow the instructions provided earlier to reverse a transaction using the Capitec app.
Q: What should I do if I transfer money to the wrong account using the Capitec app?
A: If you have transferred money to the wrong account using the Capitec app, you should take the following steps:
1. Contact Capitec support as soon as possible, either through their helpline or by visiting a branch.
2. Provide them with all the necessary details, such as the transaction reference, amount transferred, and the correct and incorrect account numbers.
3. Capitec will then assist you in initiating the process to retrieve the funds or rectify the transfer if possible.
It’s important to act promptly to increase the chances of a successful resolution. However, please note that the outcome may vary depending on the circumstances and the cooperation of all parties involved.
Q: Can I reverse a transaction made through the Capitec app if I am no longer in South Africa?
A: Yes, you can still reverse a transaction made through the Capitec app even if you are no longer in South Africa. The Capitec app allows you to access and manage your account from anywhere in the world, as long as you have an internet connection. Simply follow the instructions mentioned earlier to reverse the transaction using the app, regardless of your current location.
Q: How do I know if a debit order goes through on the Capitec app?
A: To check if a debit order goes through on the Capitec app, you can follow these steps:
1. Open the Capitec app on your mobile device.
2. Login to your account using your username and password.
3. Once logged in, select the “Transactions” option.
4. Look for the specific debit order transaction that you want to check.
5. The transaction details should indicate whether it was processed successfully or not.
6. If you have any doubts or questions, you can contact Capitec directly for clarification or assistance.
