Capitec Bank is one of the leading digital banks in South Africa, offering its customers a simple, affordable, and convenient way to manage their money. With the Capitec app, you can access your account anytime, anywhere, and perform various transactions, such as paying bills, sending money, buying airtime, and more.
But what if you make a mistake and send money to the wrong person or account? Or what if you notice an unauthorized transaction on your account? Can you reverse the money using the Capitec app?
The answer is yes, you can. However, there are some conditions and limitations that apply, depending on the type of transaction you want to reverse. In this blog post, we will explain how to reverse money using Capitec app for different scenarios, such as debit orders, EFTs, cash transfers, and more. We will also answer some frequently asked questions about reversing money with Capitec.
How to Reverse a Debit Order on Capitec App
A debit order is an agreement between you and a service provider that allows them to deduct a fixed or variable amount from your account every month for a specific period. For example, you may have a debit order for your gym membership, insurance, or loan repayment.
Sometimes, you may want to reverse a debit order on your account, either because you cancelled the service, disputed the amount, or detected a fraud. To reverse a debit order on Capitec app, follow these steps:
- Open the Capitec app and enter your remote PIN.
- Tap on “Transact” and then on “Debit Orders”.
- Select the debit order you want to reverse from your transaction history.
- Tap on “Reverse” and provide a reason for the reversal.
- Accept the terms and conditions and tap on “Submit”.
You can reverse a debit order on Capitec app within 40 days of the transaction date. However, reversing a debit order does not cancel the agreement with the service provider. You will still need to contact them and cancel the service to avoid future deductions.
How to Reverse an EFT on Capitec App
An EFT (electronic funds transfer) is a digital transfer of money from one account to another, either within the same bank or across different banks. For example, you may use an EFT to pay your rent, send money to a friend, or buy something online.
Sometimes, you may want to reverse an EFT on your account, either because you entered the wrong details, changed your mind, or detected a fraud. To reverse an EFT on Capitec app, follow these steps:
- Open the Capitec app and enter your remote PIN.
- Tap on “Transact” and then on “Payments”.
- Select the payment you want to reverse from your transaction history.
- Tap on “Reverse” and provide a reason for the reversal.
- Accept the terms and conditions and tap on “Submit”.
You can reverse an EFT on Capitec app within 8 weeks of the transaction date. However, reversing an EFT does not guarantee that you will get your money back. The recipient may have already withdrawn or spent the money, or they may refuse to refund you. In that case, you will need to contact them directly and try to resolve the issue.
How to Reverse a Cash Transfer on Capitec App
A cash transfer is a feature that allows you to send money to anyone with a cellphone number, even if they don’t have a bank account. The recipient can withdraw the money at any Capitec ATM or retail partner using a reference number and a secret code.
Sometimes, you may want to reverse a cash transfer on your account, either because you entered the wrong number, changed your mind, or detected a fraud. To reverse a cash transfer on Capitec app, follow these steps:
- Open the Capitec app and enter your remote PIN.
- Tap on “Transact” and then on “Cash Transfer”.
- Select the cash transfer you want to reverse from your transaction history.
- Tap on “Reverse” and provide a reason for the reversal.
- Accept the terms and conditions and tap on “Submit”.
You can reverse a cash transfer on Capitec app within 24 hours of the transaction date. However, reversing a cash transfer does not guarantee that you will get your money back. The recipient may have already withdrawn the money using the reference number and the secret code. In that case, you will not be able to reverse the transaction.
How to Reverse a Card Payment on Capitec App
A card payment is a payment made with your Capitec card, either online or in-store, using a card machine or a payment gateway. For example, you may use a card payment to buy groceries, clothes, or tickets.
Sometimes, you may want to reverse a card payment on your account, either because you returned the goods, cancelled the service, or detected a fraud. To reverse a card payment on Capitec app, follow these steps:
- Open the Capitec app and enter your remote PIN.
- Tap on “Transact” and then on “Card Payments”.
- Select the card payment you want to reverse from your transaction history.
- Tap on “Reverse” and provide a reason for the reversal.
- Accept the terms and conditions and tap on “Submit”.
You can reverse a card payment on Capitec app within 120 days of the transaction date. However, reversing a card payment does not guarantee that you will get your money back. The merchant may have already processed the payment, or they may dispute the reversal. In that case, you will need to contact them directly and try to resolve the issue.
How to Reverse Money Sent to a Cellphone Number on Capitec App
A money transfer to a cellphone number is a feature that allows you to send money to anyone with a cellphone number, even if they don’t have a bank account. The recipient can withdraw the money at any Capitec ATM or retail partner using a reference number and a secret code.
Sometimes, you may want to reverse a money transfer to a cellphone number on your account, either because you entered the wrong number, changed your mind, or detected a fraud. To reverse a money transfer to a cellphone number on Capitec app, follow these steps:
- Open the Capitec app and enter your remote PIN.
- Tap on “Transact” and then on “Money Transfer”.
- Select the money transfer you want to reverse from your transaction history.
- Tap on “Reverse” and provide a reason for the reversal.
- Accept the terms and conditions and tap on “Submit”.
You can reverse a money transfer to a cellphone number on Capitec app within 24 hours of the transaction date. However, reversing a money transfer does not guarantee that you will get your money back. The recipient may have already withdrawn the money using the reference number and the secret code. In that case, you will not be able to reverse the transaction.
How to Check Your Reversal Status on Capitec App
The reversal status is the status of your reversal request on the Capitec app. It shows whether your reversal was successful, pending, or unsuccessful. To check your reversal status on Capitec app, follow these steps:
- Open the Capitec app and enter your remote PIN.
- Tap on “Transact” and then on “Reversals”.
- Select the reversal you want to check from your reversal history.
- Tap on “View Status” to see the current status of your reversal.
You can check your reversal status on Capitec app at any time after you submit your reversal request. However, the status may change depending on the type of transaction, the recipient’s bank, and the merchant’s response. You will also receive an SMS notification when your reversal status changes.
How to Contact Capitec for Reversing Money
If you have any questions or issues with reversing money on Capitec app, you can contact Capitec through the following channels:
- Call their 24/7 Client Care Centre on 0860 10 20 43.
- Email them at [email protected].
- Visit their website at www.capitecbank.co.za and chat with a consultant online.
- Visit any Capitec branch near you and speak to a consultant in person.
You can contact Capitec for reversing money for any type of transaction, such as debit orders, EFTs, card payments, or money transfers. However, you should have your account details and the transaction details ready when you contact them. You should also contact them as soon as possible after you notice the error or fraud.
Frequently Asked Questions
Here are some common questions and answers about reversing money using Capitec app.
How long does it take to reverse money from Capitec?
The time it takes to reverse money from Capitec depends on the type of transaction and the recipient’s bank. Generally, it can take anywhere from a few minutes to a few days for the reversal to reflect on your account. However, some transactions may not be reversible at all, or may require additional verification or approval from the recipient.
How much does it cost to reverse money on Capitec app?
The cost of reversing money on Capitec app depends on the type of transaction and the amount involved. Generally, reversing a debit order or a cash transfer is free, while reversing an EFT may incur a fee of R5. However, some transactions may have additional charges or penalties from the service provider or the recipient’s bank.
How do I contact Capitec for reversing money?
If you have any questions or issues with reversing money on Capitec app, you can contact Capitec through the following channels:
- Call their 24/7 Client Care Centre on 0860 10 20 43.
- Email them at [email protected].
- Visit their website at www.capitecbank.co.za and chat with a consultant online.
- Visit any Capitec branch near you and speak to a consultant in person.
Conclusion
Reversing money using Capitec app is possible and easy, as long as you follow the steps and conditions for each type of transaction. However, you should always be careful and double-check the details before sending money to anyone, as reversing money may not always be successful or refundable. If you have any doubts or problems, you can always contact Capitec for assistance.
We hope this blog post has helped you understand how to reverse money using Capitec app. If you found this post useful, please share it with your friends and family who may need it. Also, feel free to leave a comment below if you have any questions or feedback. Thank you for reading!
