As the fastest growing bank in South Africa, there is a need to keep up to date on how to basic transactions on the bank app. This article is about how to reverse payment on Capitec app that is not a debit order.
Sometimes it becomes necessary to reverse a debit order when the payment has been made in error, or when a person changes his mind about a product, payment, or subscription.
Because many of these payments are made online; through apps, it is often expected that the options to cancel or reverse said debit should also be given online. It is the failure to get this option that causes a flurry of internet searches.
How To Reverse Payment On Capitec App That Is Not A Debit Order
Capitec customers who have searched through their apps and online banking portals for the options to reverse payments on Capitec app that are not debit orders will probably end up disappointed; that is because such an option does not exist.
That is not to say that it is impossible to reverse payments that are not debit orders. The steps to follow are simple. Customers can visit Capitec branches nearest to them for assistance, they will be given simple forms to fill, which will give details of the disputed transactions, as well as the reason for reversing the payments.
Alternatively, customers can call the Capitec reverse payment contact number which is 086 010 2043. However, due to congestion, one may not be attended to immediately; but a customer care representative will call back to give assistance. As always, they will inquire as to the reason why the customer intends to reverse the payment.
What Are Some Acceptable Reasons To Reverse Payment Capitec Not Debit Order?
If one has been a victim of fraud.
If one has entered a wrong digit when making the payment.
If one’s bank app has been used without ones permission.
If one has been billed multiple times for a single purchase.
Below Is A Break Down Of The Points Listed Above;
If one has been a victim of fraud. This applies if one has been misled into making a payment. It could be for a single purchase, or subscription, or any other product. When a person has been made to pay money for something due to misleading information, it is fraud.
If one has entered a wrong digit when making the payment. This honest mistake can happen to anybody; perhaps in a rush, or in a fit of excitement, customers can input a wrong digit, or several wrong digits. Other times; when the beneficiary account details are sent by a third party, they could erroneously send the wrong account details.
If one’s bank app has been used without ones permission. Sometimes children can be naughty; they can sneakily access funds to pay for the things they like; instead of waiting for their parents to make the purchases for them. The problem is that such funds may have been set aside for more important things. It then becomes necessary to retrieve said monies.
Sometimes, technology can be a pain rather than a blessing; by no fault of the buyer or the seller, multiple payments can be made for single purchases.
If any of the above applies, then one may go ahead to request the payment reversal. The reasons are valid, and the reversal will be done.
Why Debit Orders Are Easier To Reverse
Debit Orders are a kind of contract or understanding between two parties; the payer and the beneficiary, in order to make continuous payments for a certain service. After sometime, the payer may have completely paid the value in full for the product or service, or may choose to cancel the subscription.
In such cases he has to get in touch with his bank to ensure that the order is cancelled, and the next due payment is not made. Even if the payment has been made before the order reaches the bank, the tenure for which the money is paid has not expired.
The bank will simply return the money to the source, with the understanding that the contract has been cancelled, and the service is no longer required.
In such a case, all that needs to be done is to go to the Capitec app; which would also be the same tool via which the debit order was made in the first place. The procedure is summarized below:
Open your Capitec Mobile Banking App.
Tap “Transact” From the options provided.
After that, look for Debit Orders, and tap it.
After that, enter your personal pin.
The system will present a list of transactions that were recently done using debit orders, and then, from the options presented, select the transaction you wish to reverse. Please note that it is important to be very sure before tapping on any of the transactions listed; a guide can be the date when the said transaction was made.
When you are sure; then tap the transaction in question. Then the option to reverse will come up, and you need to tap that as well.
A box will then appear; you will need to provide a reason for reversing the payment. This is how the bank will know if the reversal is valid or not. Scroll back up to remember any of the valid reasons for reversing the payment.
A box will then appear for you to accept the terms and conditions, then click submit.
If debit orders are easy to reverse, then what kinds of transactions are not easy to reverse?
EFT Payments Are Difficult To Reverse
An EFT payment is an electronic funds transfer; that is a kind of payment done online from bank to bank. This is the most convenient method of moving money presently; the payer simply opens his banking app on his mobile phone or computer; and then pays the money directly into the bank account provided by the beneficiary.
Usually, the transactions are small because there has to be limits to these kinds of transactions, otherwise fraudsters and impulsive buyers would soon lead many people to financial ruin.
Because this type of funds transfer is designed to be easy and quick, often times, the money is spent by the beneficiary immediately it reaches his account. If the money has been spent by the beneficiary, then where is the money supposed to come from in the event of a reversal?
It is for this reason that Capitec Bank urges customers to be cautious when making electronic funds transfers (EFTs). Customers are urged to double check the receiver’s bank accounts, and to ensure that the digits are correct before tapping send.
This is because funds electronically transferred by mistake will not be refunded. It is important to note the distinction; funds that are sent by mistake will not be refunded; but those that are sent through fraud will.
Therefore, if a transfer was done fraudulently, then it will most likely be refunded, so customers can apply for a refund using the Capitec mobile banking app. using the procedure that is highlighted above.
The key take away is that in the dialogue box where the reason for the reversal is to be given, one must indicate that the money was sent fraudulently.
Nothing is said about reversals that are done without the sender’s permission, one can only imagine that the bank will decide such cases individually to determine the merit of the request. To make such a request one has to contact the bank. The details are below.
Capitec Reverse Payment Contact Number
Capitec has a very good customer care; they are one of the banks best known in South Africa for dealing with customers and resolving their issues in real time using the telephone to receive complaints and issues.
Sadly, however, many customers make the error of contacting the regular customer care numbers in order to request payment reversals. This is not how it works; Capitec has a dedicated phone number for receiving requests to reverse payments.
The phone number to call in order to request for a reversal of a transfer is 086 010 2043. It may be possible to get attention right away; or sometimes, due to too many people being on the line, the customer may be put on a queue, and then in a few minutes, a customer care agent will call back so as to attend to the customer and resolve the issue.
How To Reverse Money Using Capitec App Video
The following is a video made by an independent source, summarizing how to reverse money using Capitec App. please note that the maker of the video is not affiliated to the publishers of this website, and that there are no commercial interests involved.
Reverse money on Capitec App. The link is to a short video on youtube which explains in visuals how to reverse money on Capitec App in less than two minutes.
The process for reversing money that is not a debit order is slightly different from reversing debit orders because debit orders are usually contractual agreements with reputable companies in which the money is taken in exchange for goods and services which are to be rendered.
Nevertheless, it is important to note that this kind of transfers can only be reversed at the discretion of the bank. Capitec Bank advises customers to carefully guard their pins and banking apps, to avoid unauthorized access to funds, as transferred funds may not be reversed.