Reversing a payment on the Capitec app is a quick and easy way to get your money back if you have made a mistake. It is important to note that not all payments can be reversed, and there may be a fee associated with the reversal. This article will provide an introduction to how to reverse money on Capitec App, including the steps involved, the fees associated, and the limitations of the reversal process.
How to Reverse Money On Capitec App
To reverse money on the Capitec app, you can follow these steps:
- Step 1: Open your Capitec App
- Step 2: Choose Transact
- Step 3: Choose Debit Orders
- Step 4: Enter your secret Remote PIN to sign in
- Step 5: Choose a debit order from the history menu
- Step 6: Choose a reason for the dispute
- Step 7: Accept the agreement
If the payment is eligible to be reversed, Capitec will start processing the reversal. You will receive a notification once the reversal is complete.
Please note that only debit orders of under R800 can be disputed on the Capitec App. If R800 or more was debited out of your Capitec bank account without your permission, kindly visit your nearest Capitec bank branch. Customers urged to only dispute unauthorized debits.
Fees For Reversing A Payment
There is a fee for reversing a payment on the Capitec app. The fee will vary depending on the amount of money that you are reversing.
- For payments up to R200, the fee is R5.
- For payments over R200, the fee is 3% of the amount being reversed.
Limitations Of The Reversal Process
Not all payments can be reversed on the Capitec app. For example, you cannot reverse a payment that has already been processed by the recipient’s bank.
You can also only reverse a payment using the Capitec app if the payment was made using the app. If you made the payment using the Capitec website, you will need to contact Capitec customer support to reverse the payment.
Finally, if you made the payment using a Capitec debit card, you will need to contact the merchant where you made the purchase to request a refund.
FAQs
Here are some frequently asked questions about reversing a payment on the Capitec app:
Q: Can I reverse any payment on the Capitec app?
A: No, not all payments can be reversed on the Capitec app. You cannot reverse a payment that has already been processed by the recipient’s bank, or a payment that was made using a Capitec debit card.
Q: What is the fee for reversing a payment?
A: The fee for reversing a payment on the Capitec app varies depending on the amount of money that you are reversing. For payments up to R200, the fee is R5. For payments over R200, the fee is 3% of the amount being reversed.
Q: How long does it take to reverse a payment?
A: It can take up to 3 business days for a reversal to be processed.
Q: What if I need to reverse a payment that is not eligible to be reversed on the app?
A: If you need to reverse a payment that is not eligible to be reversed on the app, you will need to contact Capitec customer support.
Q: What if I made a mistake when reversing a payment?
A: If you made a mistake when reversing a payment, you will need to contact Capitec customer support. They may be able to help you correct the mistake.
Conclusion On How to Reverse Money On Capitec App
Reversing a payment on the Capitec app is a quick and easy way to get your money back if you have made a mistake. However, it is important to note that not all payments can be reversed, and there may be a fee associated with the reversal.
Image Courtesy: Capitec