It happens that sometimes you send money to a wrong number or person and want to reverse Capitec bank cash send, here is a full guide on how it works.
The Capitec Bank Cash Send is a new way to send money to people who don't have a Capitec Bank account or don't have a bank account at all.
Money can be sent using mobile banking or the Capitec Bank online app, which makes the cash send choice very easy to use.
When Capitec Bank sends cash, the receiver can get the money from any Capitec Bank ATM. All you need to get money is a C number and a four-digit pin that the sender sets.
The c-number is a 10-digit code that the sender gets and gives to the recipient so that the cash can be returned.
How Does Capitec Cash Send Work
To do a reversal, follow the below process.
- Dial or text the number 0860 102 043 and then wait for the client service instructor at Capitec Bank to give you more instructions.
- Please stay on the line while you wait for a professional to help you in reversing the cash transfer that was just processed.
- When the consultant finally answers to your message, let him or her know that you wish to cancel the cash transfer that was just sent to your account.
- Following that, the consultant will help you reverse the cash transfer transaction into your account; however, there may be a waiting time of up to 24 hours before the money are credited to your account.
A fee of R160.00 will be deducted from your account if you reverse a cash transfer.
The cost is non-refundable and will be deducted from your account regardless of whether or not the transaction was completed.
How Much Does Cash Send Cost?
The cash send costs charged by Capitec Bank are calculated based on the total amount of money sent.
Cash send, on the other hand, has a limit on the total amount that can be sent each month as well as the total amount that may be sent in a single transaction per month.
These costs are subject to change based on the platform that was used to transmit the payments.
The maximum amount of money that may be sent through mobile banking without incurring additional fees is R1000.00 per transaction.
The sum of R24,999.00 is the maximum that may be spent each month using either mobile banking or the banking app.
The maximum amount that may be sent in a single transaction via the Capitec Bank app is R3,000.00, and the daily limit for transferring money using the app is R5,000.00.
If making a reversal over the phone with Capitec Bank makes you uncomfortable for whatever reason, you may always visit the Capitec Bank location that is most convenient for you.
Account holders of Capitec Bank are unable to reverse cash transfers using the mobile banking app.
Other Methods to Reverse Capitec Bank Cash Send
Either you may choose to use a cost-cutting approach, or you can choose to let it run its course in order for money to be refunded to your bank account.
Within a 30-day timeframe, Capitec Bank will provide a refund for any and all cash-sent transactions. Because of this, if the cash transfer voucher is not redeemed within the first thirty days after it has been created, the money will be returned to the account where it was originally deposited.
Your Capitec Bank account will receive the monies, and there will be no costs associated with the transfer.
If you have already given the other recipient the C number and the pin code, you may use the Capitec Bank app to modify the pin code so that they are unable to access the funds even if they have the C number.
Altering a PIN number inside the Capitec Bank app does not cost anything, and you are free to do it for an endless amount of time.
Where To Collect Capitec Cash Send
You withdraw the money sent to you from the following outlets:
- Builders Warehouse
- Game stores
- Boxer
- Pick n Pay
- Shoprite
- Shoprite USave
- Checkers
- Makro
A Capitec Bank cash send sender may want to take back a cash send more than once. There are many reasons why a sender might want to cancel a cash-send transaction, but Capitec Bank makes it possible for them to do so.
Reversing a Capitec Bank cash send is easy, as long as the ticket hasn't been used yet. When money is taken out of cash send, it can't be put back.
What are the Frequently Asked Questions?
Here are most commonly frequently asked questions about Capitec Bank cash send reversal.
What Is the Capitec App?
One of the top retail banks in South Africa, Capitec Bank, created the Capitec app as a mobile banking tool. It provides a number of functions, including as bill payment, financial transfers, and account management.
Can I reverse a transaction using the Capitec app?
Using the Capitec app, it is possible to cancel certain sorts of transactions; however, this option is limited. The ability to reverse a transaction is contingent on the kind of transaction that was completed, the bank that the receiver used, and the amount of time that has passed after the transaction was completed.
When does Capitec Cash send expire?
The amount of time it takes to undo a transaction is contingent on the nature of the transaction as well as the financial institution that the receiver uses.
In most cases, you have a limited amount of time to cancel an electronic fund transfer. When it comes to debit orders, you have up to forty days from the date of the transaction to file a dispute.
What happens if I send cash to the wrong person?
If you made a mistake and transferred money to the incorrect person by accident, you need to contact the customer service team at Capitec Bank as soon as possible to report the situation and get help.
Depending on the specifics of the situation and the recipient's bank's willingness to cooperate, they may be able to assist you with undoing the transaction.
When will my account show a reversed transaction?
The length of time it takes for a reversed transaction to appear in your account varies depending on the transaction's nature and the institutions involved.
Reversed transactions are typically executed and shown in your account within a few business days. It is suggested that you keep an eye on your account and get in touch with Capitec Bank's customer service if you have any worries.
How many Capitec app transactions can I reverse?
The number of transactions you may reverse using the Capitec app is not restricted in any way.
But Capitec Bank has the right to look into any questionable reversal activity and, if required, to impose limitations. It is always advisable to use care and double-check all transaction information before starting a transfer.
Conclusion
This compilation answers all the questions that you will need to successfully reverse the Capitec cash send.
