Sending money to the wrong person happens to the best of us – and that’s why it is important to know how to reverse payment on Capitec Bank if you’re their customer.
Fortunately, it is possible to do it in case the unintended recipient has not yet used the funds.
How to reverse payment on Capitec
To reverse payment on Capitec that is not a debit order, you need to call the Capitec reverse payment contact number, which is 0860102043. A customer care representative will then assist you with the recall, according to a recent Twitter reply by the bank.
“Please note that a recall fee will apply and that a successful recall cannot be guaranteed. Late recall of transfer to Capitec Bank account – R7. Late recall of transfer to other bank account – R160,” the bank stated.
Judging from replies by the bank’s social media representatives, it may not be possible currently to reverse a payment using the Capitec app. The only option appears to be calling the contact number.
We will be on the lookout on when this changes and will update this article accordingly.
Capitec immediate payment reversal
In response to a customer’s inquiry recently on whether they could make a Capitec immediate payment reversal or not, the bank responded that this is not possible.
“We cannot reverse immediate payments as they reflect instantly. You may contact the recipient for assistance,” the bank stated on Twitter.
Therefore, it is advisable to take the utmost precaution when making immediate payments. You may be lucky if the unintended recipient is an honest person who will reimburse you voluntarily. Otherwise, you could end up with a long legal process of recovering it from them or you could lose your money altogether.
As always, it is important to check and reconfirm that all the recipient’s details are correct before effecting a payment. In all cases, the app asks you to confirm once you have entered all the details.
In the event you have transferred to the wrong recipient, move quickly to initiate a reversal as per the process outlined above.