Guide for how to reverse ewallet in South Africa. We’ve all accidentally sent something meant for someone else to the wrong recipient before, and we’re all familiar with that instant panic once the realization sets in. Some accidents, like accidentally sending money to the wrong account are more than just terrifying and humiliating, they can cause you substantial monetary damage.
ALSO READ: eWallet PIN: How to Request FNB eWallet PIN
Before beginning, it is important to understand what ewallets truly are. Even if they don’t have a bank account, eWallet lets anyone with a legitimate South African cellphone number to send money to anyone else with a valid South African cellphone number. The funds are promptly transferred and can be used to withdraw cash from FNB ATMs, purchase prepaid airtime or power, or send money to another phone.
You essentially link your ewallet to your account through the FNB app and instead of withdrawing money every time you need to make a transaction, you can simply use your app and make the job ten times easier. FNB sends you a notification when you make a transfer or receive money either from your own account or from someone else.
What makes FNB eWallet worth your while?
First and foremost, FNB is one of South Africa’s most creative banks. Customers refer to other banks’ services as “eWallet” as well, therefore they’ve effectively invented the e-wallet service itself, most prominently in South Africa.
It remains by far, the simplest and most cost-effective method of sending money to anyone in South Africa.
Carrying an ewallet is much more efficient because at the end of the day you’re a lot less likely to lose an ewallet than an actual one. It brings ease in making big transactions that would otherwise be difficult with on-hand cash. On top of that, you can easily transfer the money in your ewallet to your own bank account as well. In essence, an ewallet is a quick, easy, efficient and cheap money transfer service that virtually allows you to send money to anyone. You can make purchases, and stay connected and at ease with the service that FNB provides.
The finest part is that your funds are immediately ready for withdrawal.
So what would you do if you sent a transfer from your ewallet to the wrong number and needed to swiftly reverse the transaction?
Normally, 087 575 9405 is the FNB eWallet reversal contact number, which would be used. Although it is contingent on the call center’s responsiveness – you could sit there and hope. If nothing else you could always consider it an exercise for improving your patience.
@sswazi1 You have to phone the eWallet team. The reversal takes 4 working days. RB
— RbJacobs (@Rbjacobs) September 30, 2014
There is a better alternative to the above-mentioned method, you could easily utilize USSD mobile banking service and reverse ewallat transactions that you sent.
Although your money might not be transferred back immediately, atleast the recipient won’t be able to withdraw your money either.
How to Reverse the FNB eWallet Transactions
To reverse your e-wallet transfer on your phone, use the steps given bellow:
- To access mobile banking, dial *120*321# on your phone.
- Choose “Send Money” from the drop-down menu (option 4).
- Select “eWallet reversal” from the drop-down menu (option 3).
- Select the transaction you want to reverse.
To fully aid in your understanding, here’s an overview of how FNB ewallet reversal process operates.
Your e-wallet reversal request would have been received by FNB, and they would have started the procedure for you. The reversal process will take about 4 business working days to complete, and your money will be returned to you within 4 to 15 days accordingly.
The limitations and expense of ewallet
It is to be noted that, due to the time lapse between receiving the request and the implementation of the request, it is very important that before you hit the send button, double-check the recipient’s phone number. The FNB reversal process can take a long time, which you may not have at your disposal.
To further simplify this process, it is pivotal to use the FNB app, specifically, for your ewallet transactions, as it has access to the contact list in your phone. This aids in transferring money to the right person and minimizes the chances of error in the initial process itself.
Understandably, FNB is liable to charge a fee for eWallet reversals and the services it provides in assisting its users. Existing clients who had to go through this claim that FNB charged them approximately R50-R60 to reverse their ewallet transaction.
Do the *120*321# cellphone banking thing as if you’re about to send another ewallet. The option for reversal will come up
— Zanele Kabane (@zeekabane) January 30, 2019
While FNB tries its best to cater to its customers, it cannot always guarantee that you’ll be able to get your money back and a large part of the entire process depends on the person on the other side, particularly if they’ve already withdrawn the money you sent them by mistake. This is why it is strongly encouraged to double-check the recipient’s number, as previously mentioned. It is always better to be safe than sorry.
Image Courtesy: www.snupit.co.za
