How To Reverse Capitec Cash Send

How To Reverse Capitec Cash Send

If you’ve made a mistake while sending money via the Capitec app, don’t worry – you can easily reverse a cash send. Here are the steps to follow:

  1. Open the Capitec App:

    • First, open the Capitec banking app on your mobile device. If you haven’t already installed the app, you can download it from the Google Play Store or Apple App Store. Log in using your internet banking details.
  2. Navigate to the Transact Tab:

    • Once you’re logged in, go to the “Transact” tab on the home screen of the app. This tab allows you to access all banking services related to transactions, including cash sends.
  3. Select the ‘Send Cash’ Option:

    • In the Transact tab, locate and select the “Send cash” option. Here, you’ll see a list of your recent cash sends.
  4. Choose the Transaction to Reverse:

    • Scroll through the list of recent cash sends and identify the transaction you want to reverse. Tap on the transaction to select it.
  5. Initiate the Reversal:

    • After selecting the transaction, you’ll find the option to “Reverse” or “Undo” the cash send. Tap on this option to initiate the reversal process.
  6. Confirm the Reversal:

    • You’ll be prompted to confirm the reversal of the cash send. Review the transaction details to ensure it’s the correct one, then confirm the reversal.
  7. Enter Your Banking PIN:

    • To complete the reversal, enter your Capitec banking PIN for security purposes when prompted. This step ensures that only you can authorize the reversal.
  8. Receive Confirmation:

    • Once the reversal is successfully processed, you’ll receive a confirmation message on the app. The funds will be returned to your account, and the transaction will be reversed.

Remember to always double-check recipient details and transaction amounts before sending money to avoid any errors. With the Capitec banking app, reversing a cash send is a straightforward process. If you ever need to correct a mistaken transaction, the app has you covered! 📱💸

Capitec cash reversal

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How long does it take to reverse a transaction?

The duration for reversing a transaction depends on the type of reversal requested. Let’s break it down:

  1. Authorization Reversals:
    • These are the quickest and typically take 2 to 4 business days to complete.
    • Authorization reversals happen swiftly after a transaction is initiated, before the money is withdrawn from the customer’s account and transferred to the merchant.
    • Customers might not even be aware that an authorization reversal has occurred.
  2. Refunds:
    • Refunds take longer because merchants usually need to wait for the return of the items ordered.
    • The time frame can vary, but it may take days or weeks, depending on shipping and processing times.
  3. Chargebacks:
    • Chargeback reversals also take time, as they involve disputing a transaction with the bank.
    • The resolution period can vary, but it generally takes longer than authorization reversals.

Remember that communication with your bank or payment provider is essential during this process. If you encounter any issues, reach out to them promptly to ensure a smooth reversal.

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