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How To Reverse Unredeemed Capitec Cash Send?

Quick Summary

This comprehensive blog post provides a step-by-step guide on how to send money using Capitec, update the secret code for unredeemed vouchers, and cancel an unredeemed CashSend. It also covers the cost and limits of sending cash, how to collect cash, and what to do if you can’t get your cash. Additionally, it includes instructions on how to reverse an unredeemed Capitec Cash Send by contacting customer service and filling out necessary forms.

Introduction

Sending money to friends, family, or business associates has become easier than ever with the convenience of digital banking. Capitec Bank offers a simple and secure way to send cash through their Cash Send feature. However, there may be instances where you need to reverse an unredeemed Capitec Cash Send transaction.

In this blog post, we will guide you on how to reverse an unredeemed Capitec Cash Send so that you can retrieve your funds successfully. We’ll provide step-by-step instructions for sending money using Capitec’s various platforms such as the app, Internet banking, and USSD code. Additionally, we’ll explain how to update secret codes for unredeemed vouchers and highlight important information about costs and limits associated with these transactions.

If by any chance you encounter difficulties in collecting your cash or have questions regarding reversing a transaction after it remains unclaimed for some time period – don’t worry! We’ve got answers covered too!

So let’s dive into the details below on how exactly one can go about reversing an unredeemed Capitec Cash Send.

How to Send Money Using Capitec

Sending money using Capitec is a simple and convenient process. Whether you prefer using the app or Internet banking, here are the steps to follow:

Step 1: Tap Transact on the app or sign in to Internet banking

To initiate a cash send transaction, open your Capitec mobile app or log in to your account through Internet banking.

Step 2: Select Send Cash and choose the “From” account

Once you’re logged in, navigate to the option for sending cash. In both platforms (app and internet banking), this feature can be found under Transact.

Choose which of your accounts will be used as the source of funds for this transaction.

Step 3: Enter amount and create a secret code

Enter how much money you want to send from your selected account. Additionally, create a unique four-digit secret code that will serve as an extra layer of security when collecting funds at partner stores or ATMs.

Make sure not share this secret code with anyone other than intended recipients!

Step 4: Read and accept terms & conditions

Before proceeding further with confirming payment details make sure read all relevant information regarding fees associated with transactions within specified limits set by Capitec bank.

It’s important always review these terms carefully before accepting them ensure full understanding obligations involved during transfer processes.

Step 5: Confirm Transaction And Share Reference Number With Recipient

After reviewing all entered data confirm accuracy then proceed final step confirmation button click/tap depending platform being utilized. Once confirmed successfully system generate reference number should shared recipient enable successful collection their end.

By following these five easy steps, you’ll able quickly securely complete any desired transfers via either App online Banking services offered by Cape Town based financial institution known simply ‘Capitec Bank’.

How to Update the Secret Code for Unredeemed Vouchers

If you have sent a cash voucher using Capitec and it remains unredeemed, you may want to update the secret code associated with it. Here’s how:

Step 1: Sign in to Internet banking

To begin updating the secret code for an unredeemed voucher, sign in to your Capitec Bank Internet banking account.

Step 2: Go to the payments menu

Once logged in, navigate to the payments menu within your Internet banking dashboard. This is where you can manage all of your payment-related activities.

Step 3: Select Send Cash and view Send Cash history

Within the payments menu, locate and select “Send Cash.” This will allow you access into sending money through this feature. From there, choose “View Send Cash History” or a similar option that displays past transactions made via send cash.

Step 4: Choose unredeemed voucher and click Update secret code

In your transaction history list under send cash section find out which specific transaction corresponds with an unredeemable voucher by checking its details such as recipient name or reference number if available. Click on ‘Update Secret Code’ button next (or near) that particular entry related specifically towards said non-retrieved funds transfer request; then proceed accordingly following instructions provided during process completion steps given below:

  • Enter new four-digit security PIN/secret-code combination when prompted;
  • Confirm changes once done entering desired information accurately without any errors present before submitting final confirmation step required completing action successfully.

By following these simple steps outlined above carefully one should be able easily change their existing pin numbers assigned previously while ensuring safety measures are maintained throughout the entire procedure involved here too!

How to Send Cash Using USSD

Step 1: Dial *120*3279# and reply 9 to accept the terms and conditions

To initiate a cash send using USSD, start by dialing *120*3279# on your mobile device. Once connected, you will be prompted with various options.

Step 2: Choose the “From” account and enter the amount to send

After accepting the terms and conditions, select the desired “From” account from which you wish to make the transfer. This could be your savings or current account linked with Capitec Bank. Enter in an appropriate amount that you want to send.

Step 3: Create a 4-digit secret code and enter your Mobile Banking PIN

Next, create a unique four-digit secret code for added security during this transaction process. It is important not share this code with anyone other than intended recipients of funds sent via Capitec’s cash sending service. Following that step, provide your Mobile Banking Personal Identification Number (PIN) when requested as part of authentication measures implemented by Capitec Bank.

Step 4: Share reference number & secret code with recipient

Once all necessary information has been entered correctly into their system through these steps outlined above – including selecting accounts involved in transactions along amounts being transferred- users are provided both reference numbers associated specifically towards each individual transaction made within given time frame alongside respective codes generated per user request at any point throughout said period; it should then shared securely only between sender(s)/recipient(s).

Cost and Limits

Sending money using Capitec comes with certain costs and limits. Here are the details you need to know:

Sending Amounts:

  • For sending amounts between R40 – R1,000, there is a fee of R10 when using the app, Internet banking or *120*3279#.
  • If you’re sending an amount between R1,010 – R3,000 through the app or Internet banking platform, there will be a fee of R16.

Collecting Cash:

When it comes to collecting cash sent via Capitec’s Send Cash service at partner stores or Capitec ATMs, there are no additional charges involved.

Daily Limits:

  • The daily limit for sending money through both the app and Internet banking platforms is set at R1,000.
  • However, if you choose to send funds via USSD (*120*3279#), your daily limit increases up to R5,000 per day.

Monthly Limit:

The monthly limit across all methods (app, internet banking & ussd) is capped at R24,990.

It’s important that users take note of these cost implications as well as adhere strictly to these transactional limits in order to not incur any unnecessary fees while making use of this convenient feature offered by Capitec Bank.

How to Collect Cash

Step 1: Visit partner stores or Capitec ATMs

When you need to collect cash from a Capitec Cash Send, there are two options available – visiting partner stores or using Capitec ATMs. Partner stores include retailers such as Shoprite, Checkers, and Pick n Pay.

Step 2: Provide the reference number and secret code

Once you have arrived at the designated location, approach the cashier or ATM. You will be required to provide them with both the reference number and secret code associated with your transaction. These details ensure that only authorized individuals can access the funds.

Step 3: Some retailers may ask for additional verification

In certain cases, especially when dealing with larger amounts of money, some retailer partners might request additional identification documents before releasing the cash. This is done in order to maintain security measures and protect against fraud.

Step 4: Cash will be paid instantly upon validation

After providing all necessary information and completing any requested verifications successfully if applicable), your cash will be handed over immediately by either an employee at a partner store’s customer service desk or dispensed directly from a Capitec ATM machine.

What to Do If You Can’t Get Your Cash

Step 1: Contact the Capitec Client Care Centre on 0860 10 20 43

If you are unable to collect your cash after sending a Capitec CashSend, it is important to take immediate action. The first step in resolving this issue is to contact the Capitec Client Care Centre at their dedicated helpline number – 0860-10-20-43.

When contacting the client care centre, be prepared with all relevant information regarding your transaction. This includes details such as your full name, ID number and bank account details. Providing accurate and complete information will help expedite the process of investigating and resolving any issues related to unredeemed cash sends.

The friendly customer service representatives at Capitec Bank’s client care centre will guide you through further steps based on your specific situation. They have extensive knowledge about banking processes and can provide valuable assistance in reversing an unredeemed Capitec cash send if necessary.

It is recommended that you reach out for support as soon as possible so that they can initiate investigations promptly while ensuring minimal inconvenience for yourself or anyone involved in the transaction.

Remember, by maintaining open communication with customer care representatives throughout this process; reversing an unredeemed Capitec cash send becomes much easier.

How to Cancel an Unredeemed CashSend with Capitec

If you have sent a CashSend transaction through Capitec and the recipient has not yet redeemed it, you may want to cancel the transaction. Here’s how you can do it:

Step 1: Go to the Capitec Online Banking website

To begin cancelling your unredeemed CashSend, visit the official Capitec Online Banking website. Make sure that you are logged in to your account using your credentials.

Step 2: Select “Beneficiaries” from the left-hand menu bar

Once logged in, navigate to the left-hand menu bar on your screen and locate and select “Beneficiaries.” This option will allow you access to manage all of your beneficiaries’ details.

Step 3: Click or tap on the “CashSend” tab under Beneficiaries section

Within this beneficiary management page, look for and click or tap on the specific tab labeled as “CashSend”. By selecting this tab, you’ll be able to view all relevant information related to your previous cash send transactions.

Step 4: Use search function or scroll down

Depending on how many beneficiary entries you have made in the past, it might be necessary for you to use the search function provided or simply scroll down to find the particular recipient whose unredeemed you wish to cancel. This will help you narrow down your search and locate the relevant transaction more easily.

Step 5: Click or tap on the correct History icon next to the recipient name

Once you have located the relevant transfer you desire to cancel, carefully click or tap on the icon next to the recipient’s name to view a list of past cash sends to this particular recipient. This history list will assist in your selection process by providing detailed information about each individual transfer.

Step 6: Click or tap on the “More” button next to the CashSend you want to cancel

After reviewing the transfer history, identify the specific CashSend transaction that you wish to cancel and click or tap on the “More” button located next to it. This will reveal additional options for this particular transfer.

Step 7: Select Remove Cashsend option

Among these options that appear after selecting the “More” button, you will find an option labeled as “Remove CashSend”. Select this option to begin the process of cancelling your unredeemed transfer to the recipient.

By following these simple steps, you will be able to successfully cancel an unredeemed CashSend transaction with Capitec Bank. It is important to note that once a cancellation request has been submitted, it may take some time for the funds to be returned back into your account balance.

How to Cancel an Unredeemed Once-Off CashSend

If you have sent a once-off CashSend with Capitec and it has not been redeemed by the recipient, you can cancel the transaction. Here’s how:

Step 1: Switch to the full Capitec Online Banking service

To access all features of online banking, including cancelling unredeemed transactions, switch from the simplified version of online banking to the full service. Follow these steps:

  • From your account dashboard or main menu at the top of your screen, select the “Full Service” option.

This will give you access to additional functionalities.

Step 2: Choose “Payments” and then select “CashSend”

Once in full-service mode, navigate through different options until you find the Payments section. Click on it and look for CashSend among the available payment methods.

Step 3: Choose “View unredeemed transactions”

Within the CashSend section, locate the “View unredeemed transactions” button or link that allows viewing a list of any outstanding cash sends that haven’t been claimed yet.

By following these three simple steps outlined above – switching to Full Service mode within Capitec Online Banking platform; selecting Payments followed by choosing ‘Cash Send’ as the preferred method; finally clicking on ‘View Unredeem Transactions’, users are able to see if there are any pending/unclaimed transfers made via this specific feature offered exclusively by South Africa’s leading bank – CAPITEC BANK LIMITED (CapBank).

Please note that cancellation is only possible for once-off cash sends which have not yet been collected/received/withdrawn/redemption process initiated successfully completed prior to initiating a request for reversal action against such transfer(s).

How to Reverse an Unredeemed Capitec Cash Send

If you have sent a cash send through Capitec and the recipient has not redeemed it, there are steps you can take to reverse the transaction. Follow these simple steps:

Step 1: Contact Customer Service

The first step is to get in touch with Capitec Bank’s customer service as soon as possible. You can reach them by calling their Client Care Centre on 0860 10 20 43. When contacting customer service, be prepared to provide your full name, ID number, and bank account details.

Step 2: Fill Out Necessary Forms

Once you have contacted customer service and explained the situation regarding the unredeemed cash send, they will guide you through the process of reversing it. They may ask for additional information or documentation related to the transaction.

In some cases, they might provide you with a form that needs to be filled out completely before proceeding further. Make sure all required fields are accurately completed so that there are no delays in processing your request.

Step 3: Wait for Funds To Be Reversed

After submitting all necessary documents/forms correctly, you will need to wait approximately ten business days for funds to be reversed back into your original account. If more than seventy-two hours have passed since the transfer, it may take a longer time period.

It is important during this waiting period to keep track of any communication from Capitec about the status update on fund reversal. By following these three easy steps – contacting customer care, filing forms, and being patient – you should be able to successfully reverse an unredeemed Capitec cash send.

Remember to always double-check the recipient’s banking details prior to making a payment to avoid the hassle of reversals. By maintaining proper communication throughout the entire process, you ensure a smooth resolution when dealing with unclaimed transactions.

Please note that while we strive our best efforts at providing accurate information, this content was based on external sources which could be subject to change. It is recommended to refer to Capitec’s official website or contact their customer support for the most up-to-date and accurate information.

References

  1. https://www.capitecbank.co.za/personal/transact/send-cash-anywhere/
  2. https://onlinebanking.help.absa.co.za/en/help/cashsend/once-off-cashsend/how-do-i-cancel-an-unredeemed-cashsend/
  3. https://askly.co.za/how-to-reverse-unredeemed-capitec-cash-send/

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