How To Reverse Money Using Capitec App

Before learning how to reverse money using Capitec App, it is expedient to know that a non refundable service fee of R160 will be charged to you. This fee is not an authorization that the reversal will be successful and everything will still be subject to manual checkup, approval and authorization from the bank.

With that fully at the back of your mind, kindly note that this tutorial is focused on reversing EFT payment money made to either a Capitec account or non Capitec Account.

If your focus is about reversing money sent by Capitec Cash send, then check out this guideline made specifically for that purpose.

In early 2023, approximately 115 days ago, a loyal reader of Mamzansi reached out to me, fidgeting and sore afraid that he mistakenly sent money to the wrong Capitec Account with the use of his App. He was asking for solution whether the money can be reversed and refunded.

As per our custom and chief reason why this online publication exist, Mamzansi guided her on what to do, the steps to implement to reverse the money and the good news was that it was successfully reversed.

Now, in this present age of orbiting cyberspace, cloned in multiple online teachings that quite often distorts the core learning focus expected; this guideline is aimed at streamlining and explaining to you the steps you need to take should in case you are a victim of this expensive mistake.

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First is to know and learn how payments are done with the use of Capitec App.

How To Reverse Money Using Capitec App

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Using Capitec App For EFT Payments

EFT connotes Electronic fund transfer; this literally translates to the fact that if you want to send money or make payment to someone, you do not have to go all the way to the bank driving or walking over a long distance.

Now, if you are a Capitec customer, you can just send the money or transfer the money to the client or fellow anywhere you are right from your mobile phone.

Three things must be done before EFT payments can be done on a Capitec App successful:

  • Having the recipients banking details, including the account number and whether it is a savings or cheque account
  • Availability of funds to pay for charges ( I made mentioned of this charges in my articles on FNB to Capitec payment transfers and also for Capitec to FNB, you can check it out)
  • Knowing the branch code for the recipients, either for FNB or the Universal Capitec branch code.

With those two factors, this is how to send EFT payments from a Capitec App:

  • Download, install and activate the Capitec App
  • Locate and navigate to the transact tab
  • Input and fill the following: payment and transfer beneficiary details in the appropriate box that pops open
  • The pay icon will display next, then fill the full information on the amount you want to pay or transfer; one done, click on payment to finalize the transaction.
  • On some instances, a PIN will be required from you ( a security confirmation to be sure you are the one authorizing the transaction).
  • Input the figures and proceed.
  • A service charge of R7.50 will be deducted along the money you send.

And now, to the important task of the day.

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How To Reverse Money Using Capitec App

The seven (7) steps to implement to reverse money or payment made using Capitec App are:

1. Engage your Capitec App

This is the first starting point assuming you made the payment or transfer of the money from your Capitec banking App. At this point, you do not need your Capitec Card because you made the transaction from your App. So, flip open your phone and open the App.

You need to be aware that you need an active internet connection to be able to connect your App to the bank’s general server to be able to fetch your details in real time.

Once the App is opened, login to the App with your username and password ( and if it is already logged in, just proceed to the next step or phase).

2. Engage the recent Transaction

To reverse money using Capitec App, tracing the recent or last transaction is often the bait that attention should be given to.

This is why it is generally advisable that the moment you realized you transferred money or payment to the wrong account number or probably you made a mistake, you need to, as a matter of urgency move swiftly and initiate means to reverse the payment immediately.

However, in case you have sent the money for some time,  howbeit still within 24 hours and you suddenly remember, checking your last transaction on your App will fortify you with required information to reverse your EFT payment or money from the App.

3. View And Scrutinize The Debit Order

What do you check in the debit order? At the debit order page, you check the transfers and payment you made. This is like a repository of all payment you have done over a period of time.

So checking your debit order will show you the exact amount transferred, recipients sent to and details of the recipients also.

Studying and implementing this is crucial to how to reverse money using Capital App

4. Insert The PIN, View History And Chose Reverse

Once the point 3 above is clear, a PIN will be required to further access the debit, insert the PIN and from the prompted screen, scroll up down and select history.

On the history page, you will see your debit ( I mentioned this in point 3 above). Go through the debit, select the main one you made a mistake with and click on reversal.

And that brings us to the next step;

5. Answer The Reverse Security Questions and Purpose

Up to 5 different optional questions will be presented to you for the basis why you want to reverse the payment with the Capitec App. Chose the most convincing reasons and which is , in your own case, an error or mistake sending such money.

After this, an agreement tab will pop open, chose and finally click on it to submit your reversal request.

Please understand that after submitting the button; the request will be checked by the bank to either approve or reject your request and this does not take long because of the urgency involved.

Kindly watch this video:

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3 Reasons To Request For Money Payment Reversal Using Capitec App

Anything can go wrong, based on the major complaints filed by customers, the following are the leading causes why customers makes reversal request.

  • Mistake sending to wrong account number

Everyone makes mistake , no one is immune from committing errors. This is the major reason why reversing payments made by EFT is often reversed. Capitec bank notably advises that people should be careful and deeply verify and confirm any account number they are about to send money to.

So whenever you want to transfer money using EFT or electronic money transfer, please do not be in a hurry; take your time, be careful and check the account number very well.

  • Sending above the intended Amount

This is the second reason why reversal request if quite often made. An unintentional excess payment to a recipient or third payment triggers reversal payment request on the Capitec App from most customers.

In whatever position or reason you find yourself, just follow the above steps and your money will be reversed.

  • Fraudulent Engagement

In just under 4 years, fraud related activities quadrupled to a whopping 400 percent, as reported by the Government and Hawks.

This is a serious issue and it is the third most reported reasons why customers wants to know how to reverse money using Capitec App the moment they realize dubious EFT debit payments.

The moment most customers realizes unauthorize money and payment going out of their account, they filed and lodged a formal complaint to reverse such payment.

If you did not not send money to someone and you noticed such fraudulent activities, then request for the reversal immediately.

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Important Frequently Asked Questions And Facts To Know

  • What is the duration of EFT reversal from Capitec Bank

It depends, but generally its within 24 hours for Capitec to Capitec EFT reversal!!

The answer you provide while initiating the reversal using your App is one of the leading contentions that determines how quickly it will be processed.

Being and honest and straightforward with your answer will help your cause!!

In most cases, contact is made by the bank with the recipients and solely based on the bank’s discretion, your money will be reversed and credited back to your account.

Please be fully aware that if the person you sent the money to is not using Capitec, then this will take longer because the bank will need to contact the third party bank. Expect anytime duration on or before 30 days in such instances.

  • Can money be refunded if recipient has withdrawn the money?

No, once the money or EFT payment you sent by mistake to a wrong account number has been withdrawn, the money cannot be reversed or credited back to you.

Who will pay it?

That is the argumentative discussion, the bank cannot be held liable for such occurrence and that is why it is expedient for you to urgently make a request for the money or payment to be blocked or reversed immediately.

With the friendly customer care that Capitec offers, after initiating contact with the receiver or recipient of the money or EFT payment you sent by mistake and if the recipient has not withdrawn the money, then the bank will accede to your request or reject your request based solely on their discretion and the request answers you gave them.

Expect a positive results within 14 days!!


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