How to reverse money using Capitec App

How to reverse money using Capitec App? How to dispute a debit order using Capitec Bank App? Capitec clients can now reverse money using Capitec Bank App. In this article, you will learn how to reverse money using Capitec Bank App.

ALSO READ: How to make an instant DStv Payment with the Capitec Bank App

How to reverse money using Capitec app

Did an unauthorized debit order go off your Capitec account and don’t know how to reverse it? Don’t worry, you can now dispute a debit order without going to your nearest branch. Simply sign in to the Capitec app, choose the debit order and dispute it. Ready to know how to reverse a payment on Capitec app?

Here’s how to reverse a debit order using Capitec App:

• Step 1: Open your Capitec Mobile Banking 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

That’s how to reverse debit order on Capitec App.

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.

Reasons to reverse debit order on Capitec App

The dispute of a valid debit order could cause:

• A cancelled insurance policy or service, or unpaid instalment
• A lower credit score and difficulty getting new credit
• Being handed over for bad debt and more cost
• Higher future insurance premiums or arrears interest
• Difficulty entering into other agreements

It’s possible to successfully reverse your money back to your Capitec Bank account in less than 24 hours if you dispute the debit order immediately after it occurs and not more than 40 days after.

Please note that it may be difficult for your debit order dispute to be accepted and your money reversed back to your Capitec account if the order is registered 40 days or more after the transaction was made.

That’s it about how to reverse money using Capitec App. You can also watch the below video on how to switch your debit orders on Capitec.

Conclusion

In conclusion, if you need to reverse a transaction made using the Capitec App, it’s a straightforward process. Simply open the app, select the “Transact” tab, and find the transaction you want to reverse. As long as the transaction has not been fully processed, you can reverse it by tapping on the transaction, scrolling down, and selecting “Reverse Transaction”. Be sure to confirm the reversal, and the funds will be returned to the original account. Remember that you can only reverse certain types of transactions, and if the transaction has already been fully processed, you will need to contact the recipient directly to request a refund. If you have any issues or questions, Capitec Bank’s customer service is always available to assist you. If you are interested in creating an invoice for your payments, you can visit Zintego.

How to reverse money using Capitec App in South Africa FAQs

Here are some frequently asked questions about reversing money using the Capitec App:

Can I reverse any transaction using the Capitec App?

No, you can only reverse certain types of transactions. For example, you can reverse a cash send transaction or a transfer to another Capitec account. You cannot reverse a debit order or a payment made to a non-Capitec account.

Can I reverse a transaction immediately after making it?

Yes, you can reverse a transaction as long as it has not been fully processed. If the transaction has been processed, you will need to contact the recipient directly to request a refund.

Is there a fee for reversing a transaction using the Capitec App?

Capitec Bank does not charge a fee for reversing a transaction using the app. However, if the transaction was subject to fees or charges, those fees may not be refunded.

What should I do if I accidentally transfer money to the wrong account?

If you accidentally transfer money to the wrong account, you should try to reverse the transaction as soon as possible using the Capitec App. If you are unable to reverse the transaction, you should contact Capitec Bank’s customer service for assistance.

How long does it take to reverse a transaction using the Capitec App?

The time it takes to reverse a transaction depends on the type of transaction and how quickly it can be processed. In some cases, the reversal may be processed immediately, while in other cases it may take a few days.

Image Courtesy: www.capitecbank.co.za