With a mandatory service fee charge of R160, reversing Capitec cash send payment looks justified. The dynamics and intricacies of reversing Capitec cash send with the App and SMS are fully scrutinized in this guideline.
Update: Capitec cash send reversal is not permitted on the App, this is sad, however, it is done for security measures!!
Intellectual cognitive expository data reveals that 1 out of 10 Capitec customers make an error or mistake when making cash send money payments. This figure is mind-blowing going by the recent statistics in August 2023 that Capitec has 11 million active digital clients base, according to Fourier, its CEO.
As such, being the biggest bank in South Africa based on its 21 million active customer base, the bank made preparations ahead on how to reverse Capitec cash send made in error and accommodate this so that its customers can continue enjoying the best of customer care services.
How To Reverse Capitec Cash Send
As mentioned earlier, a non-redeemable or refundable fee of R160 is charged to you whether or not the reversal is successful or not.
- Send an SMS to 0860102043
- Alternatively, you can call the number above for a faster and quick response
- Now, a Capitec customer service staff will attend to you ( this may sometimes be annoying because of long minutes/hours of waiting)
- If you are lucky enough to quickly get hold of the staff, some security questions will be asked of you e.g. your name, account number, when you made the transfer, etc.
- If the security answers are successful, the staff will help in reversing the sent funds
Please note that it is not immediate; a 24-hour window time frame is needed for the reversal to be effected.
The other proven way to reverse Capitec money is by going inside the nearest Capitec bank close to you with your proofs and it will be done for you.
Frequently Asked Questions
Kindly pay attention to the points below:
- How do I reverse cash send on Capitec cellphone banking
As earlier explained, you cannot make the reverse using this means. This works only if you are transferring money and can be done when you dial *120*3279#.
- What happens to my unredeemed cash send capitec
Please note that when you make a Capitec transfer, it has a pickup or collection time grace of 30 days maximum.
What this means is that if the recipient or customer did not collect the money or redeem the money within 30 days, the money automatically goes back to the sender i.e. you. It automatically reflects in your Capitec bank account.
If after 30 days, the recipient now uses the PIN and reference number, it will not work!!
The good news is that you, as the sender will not incur any costs or charges for this. It is free!!
- Capitec cash send voucher cannot be redeemed
Three scenarios where the voucher may not be redeemed are if it has expired (i.e. more than 30 days), it was the wrong PIN or reference number sent to you or you made a mistake while typing it on the ATM, etc.
Another scenario is if the sender has canceled or reversed it. However, this is a very unlikely issue
- Capitec Cash send reference numbers lost or expired
Please note that it is valid for 30 days. A Capitec cash send pin has a maximum duration of 30 days. So make sure you redeem the money before it expires.
However, if your reference number is lost or you forget your PIN, just ask the sender to please resend it to you because the sender has it in their inbox or SMS. If the sender has deleted it or cannot find it, the sender can quickly generate another one for you.
- What are the transaction Limit?
Capitec Cash send has its transaction limit for USSD code and App users. The daily transaction limit is R1,000, which means you can transfer R24,000 every month for mobile banking ( using the USSD code).
The daily limit for sending money via the Capitec Bank app is R5,000.00, and the maximum amount to send per transaction is R3,000.00.
If you need further clarification call Capitec Customer Care Centre on 0860102043.
- What are the Charges Fee?
The whole summary is:
When using USSD Code:
- R8 will be charged on every transaction ranging from R40 – to R1,000.
- And R15 if cash is from R1010 – R3000
When using the Capitec Bank App:
R16.00 = R1,010.00 – R3,000.00
R8.00 = R40.00 – R1,000.000
