Quick Summary
This blog post provides a comprehensive guide on how to reverse a cash send transaction using the Capitec app. It covers step-by-step instructions, including contacting the recipient, gathering information, navigating the app, locating the transaction, confirming the reversal, and monitoring your account. It also includes information on sending cash using Capitec Bank, viewing send cash history, updating secret codes, collecting cash, cost and limits, and answers to frequently asked questions.
Introduction
The Capitec app has revolutionized the way we handle our banking needs, allowing us to conveniently send and receive money with just a few taps on our smartphones. However, there may be instances where you need to reverse a cash send transaction due to an error or change of plans. In this blog post, we will guide you through the step-by-step process of reversing a cash send using the Capitec app.
Whether it’s sending money to someone by mistake or realizing that you no longer want to proceed with the transfer, knowing how to reverse a cash send can save you from unnecessary stress and inconvenience. The good news is that Capitec Bank provides its customers with an easy-to-use mobile banking app that allows for seamless reversals when needed.
In this article, we’ll cover everything from contacting recipients and gathering information promptly after making an erroneous transfer all the way through navigating within your account transactions in order find specific transfers for reversal purposes. We’ll also discuss confirming reversals correctly while keeping track of your account balance during each stage until funds are successfully returned.
Mistakes happen – but thanks to technology like the Capitec app, reversing a cash send has never been easier.
e Capitec app. Locate the app icon and tap on it to launch the app.
4. Log in to your account:
Enter your login credentials (username and password) to access your Capitec account. If you haven’t registered for mobile banking, you will need to do so before proceeding.
5. Navigate to the ‘Transactions’ section:
Once you are logged in, navigate to the ‘Transactions’ section within the app. This section will display a list of recent transactions made from your account.
6. Locate the transaction to be reversed:
Scroll through the transaction history to find the specific cash send transaction that you want to reverse. Tap on the transaction to open its details.
7. Select the ‘Reverse’ option:
Within the transaction details, look for an option labeled ‘Reverse’ or ‘Refund’. Tap on this option to initiate the reversal process.
8. Confirm the reversal:
The app will prompt you to confirm the reversal. Double-check that all the details are correct, including the recipient’s information and the amount to be reversed. Once you are sure, confirm the reversal.
9. Monitor your account:
After confirming the reversal, keep an eye on your account to ensure that the funds are returned successfully. The money should reflect in your account within a few business days. If you do not see the funds returned, contact Capitec Bank’s customer support for further assistance.
By following these steps, you can easily reverse a cash send transaction made through the Capitec app. Remember to act quickly, gather all necessary information, and double-check the details before confirming the reversal.
Sending Cash Using Capitec Bank
Using the Capitec app:
The Capitec app provides a convenient way to send cash to anyone, anytime. Here’s how you can do it:
- Tap Transact: Open the Capitec app on your smartphone or tablet and tap on the “Transact” option.
- Choose “From” account: Select the bank account from which you want to send money.
- Enter amount and create secret code: Enter the desired amount of cash that you wish to send and create a 4-digit secret code for added security.
- Read and accept terms & conditions: Take a moment to read through all relevant terms and conditions before proceeding with your transaction, then click ‘Accept’ if everything looks good.
- Tap Yes To Confirm Transaction: Finally, tap ‘Yes’ button in order confirm this transaction.
Using Internet banking:
If using an internet browser is more preferable for sending cash via Capitec Bank, follow these steps:
- Sign In: Log into your online banking profile by visiting capitectbank.co.za
- Go Payments Menu: Once logged in successfully go payments menu where various options will be displayed. Choose Send Cash among them.
- Choose Account And Amounts: Selecting From Account choose one of yours accounts as source. Then enter required amounts.
- Create Secret Code For Security Purpose: Create four digit pin number called secrete code. This step ensures additional layer of protection while transferring funds.
- Click On Send The Cash Button: After entering necessary details like recipient name etc., click final button named “Send The Money”.
Using USSD:
For those who prefer not having access to smartphones or stable internet connections but still need quick transactions done here’s what they should know about making use of Unstructured Supplementary Service Data (USSD):
- Dial *120*3279#: Dial *120*3279# on your mobile device to access the Capitec USSD service.
- Reply 9 To Accept Terms And Conditions: Once you have dialed the number, reply with ‘9’ to accept the terms and conditions of using this service.
- Choose “From” account: Select which bank account you want to send money from by following further prompts provided through USSD menu options.
- Enter Amounts: Enter desired amounts that need be transferred.
- Create Secret Code For Security Purpose: Create four digit pin number called secrete code. This step ensures additional layer of protection while transferring funds.
- Enter Mobile Banking PIN: Finally, enter personal identification numbers (PIN) for verification purposes.
Sending cash has never been easier with Capitec Bank’s user-friendly platforms – whether it’s via their app, internet banking or even USSD services. Choose whichever method suits your needs best and enjoy hassle-free transactions at any time!
Viewing Send Cash History and Updating Secret Code
Viewing send cash history using Internet banking:
To view your send cash history using Capitec Bank’s internet banking platform, follow these steps:
- Sign in to your Capitec Bank account on the official website.
- Navigate to the payments menu or section of the online banking interface.
- Look for an option specifically labeled “Send Cash” and click on it.
- Within this section, you should find a link or button that says “View my Send Cash history.” Click on it.
Once you have followed these steps, you will be able to see a list of all previous transactions made through the send cash feature within your Capitec Bank account.
Updating the secret code for unredeemed vouchers using Internet banking:
If there are any unredeemed vouchers associated with past send cash transactions that require updating their secret codes, here is how you can do so via Capitec Bank’s internet banking platform:
- Sign in to your Capitec Bank account on their official website.
- Go back into the payments menu or section where you found “Send Cash.”
- Click again onto ‘send money’ then select ‘view my sent transaction’
- Select specific voucher from which needs its secret code updated
- Enter new desired four-digit security pin
- Confirm changes by clicking continue
By following these simple instructions provided above, you’ll successfully update/renew/modify/change/unlock/reset (whichever word suits best) the existing four-digit security PIN/code linked with those particular outstanding/send-cash-related-vouchers.
Collecting Cash and What to Do If You Can’t Get Your Cash
Once you have sent cash using Capitec Bank, the recipient can collect it at partner stores such as PEP, Shoprite, Checkers, and other participating retailers. To collect the cash successfully:
1. Visit a Partner Store:
- Locate a nearby store that is listed as a collection point for Capitec cash sends.
- Some stores may require additional verification before releasing the funds.
2. Provide Reference Number and Secret Code:
- When collecting the cash send, provide both the reference number and secret code associated with your transaction.
- These details are essential for verifying your identity as well as ensuring that only authorized individuals receive access to the funds.
If you encounter any issues or difficulties in receiving your money after following these steps:
1. Contact Customer Support:
In case of any problems or if you cannot retrieve your money from one of their partner stores, contact Capitec Bank’s Client Care Centre on 0860 10 20 43 (South Africa) for assistance.
Their dedicated support team will be able to guide you through resolving any concerns regarding uncollected funds promptly.
Please note that while every effort is made by Capitec Bank to ensure smooth transactions when sending/receiving cash via their platform; there might still be instances where unforeseen circumstances arise causing delays or complications during this process.
Cost and Limits
Sending cash using Capitec Bank comes with certain costs and limits. Here’s what you need to know:
Sending Fees:
- For transactions ranging from R40 to R1,000, there is a fee of R10 when using the Capitec app, Internet banking, or *120*3279#.
- If you are sending an amount between R1,010 and R3,000 through the app or Internet banking platform, a fee of R16 will be charged.
Collecting Cash:
When collecting cash at partner stores such as PEP Stores, Shoprite Checkers Money Market Counters, Boxer Superstores till points, and selected Spar outlets, there are no additional fees involved.
Daily Limit:
The daily limit for sending money via the Capitec app or Internet banking is set at R1,000 per day. This means that you can send up to this amount in one day without any issues.
Monthly Withdrawal Limit:
For withdrawing physical cash, the monthly withdrawal limit stands at a maximum total value of ZAR24,990 (twenty-four thousand nine hundred ninety rand).
It’s important to note these cost implications before initiating any transaction on your mobile device or internet browser.
Frequently Asked Questions
Can I reverse any cash send transaction?
Unfortunately, not all cash send transactions can be reversed. It is important to act quickly and follow the steps outlined in our guide as soon as you realize there has been an error. If the recipient has already withdrawn or spent the money, it may not be possible to reverse the transaction.
How long does it take for the reversal to be processed?
The time taken for a reversal process varies depending on various factors such as network connectivity and banking processes. Generally, Capitec Bank aims to complete reversals within 24 hours of initiating them through their app or Internet banking platform.
Is there a fee for reversing a cash send?
Yes, there is a non-refundable fee of R160 charged by Capitec Bank when attempting to reverse a cash send transaction using their app or Internet banking service. This fee applies regardless of whether your request is successful or unsuccessful.
What should I do if the money is not returned to my account?
If you have followed all necessary steps but haven’t received your funds back within 24 hours after initiating the reversal process, we recommend contacting Capitec Bank’s customer support immediately at 0860 10 20 43. They will assist you further with resolving any issues related to unreversed transactions.
What are daily limits for sending cash?
Capitec Bank imposes certain limitations on how much money can be sent per day using their mobile app and internet banking services:
- For amounts between R40 – R1,000: A maximum limit of up-to-R1k.
- For amounts between R1,010 -R3k: The maximum amount that one could transfer would depend upon available balance.
Please note these limits are subject to change based on bank policies, so always check with the latest information from official sources before making transfers.
Are there additional fees for collecting cash at partner stores?
No, collecting cash from partner stores such as PEP, Shoprite, and Checkers is free of charge. However, it’s important to note that some retailers may require additional verification before releasing the funds.
Can I send cash to someone who doesn’t have a Capitec account?
Yes! You can use the Cash Send feature on your Capitec app or Internet banking platform to send money even if the recipient does not have a Capitec Bank account. They will receive an SMS with instructions on how they can collect their cash from designated partner stores.
Can I reverse a cash send made through USSD?
Unfortunately, at this time reversing transactions made via USSD (dialing *120*3279#) is not possible using self-service options like in-app reversal features provided by Capitec Bank. If you need assistance regarding any transaction done via USSD, please contact customer support for further guidance.
Can I update the secret code for a redeemed voucher?
No, once vouchers are redeemed successfully, there isn’t a provision available currently where one could change/update secret codes associated with them.
Can I reverse a cash send made through Internet banking?
Yes! The process remains the same irrespective of the channel used – be it the mobile application or web-based interface offered by Capitec Bank.
