Your Complete Guide on How to Reverse Capitec Bank Cash Send?
Sending money through Capitec Bank’s Cash Send feature is a popular choice, especially for those needing to transfer funds to individuals without a Capitec account.
It’s convenient, easy to use, and accessible through both mobile banking and the Capitec Bank online app.
But what happens when you need to reverse a Cash Send transaction?
Whether it’s due to sending money to the wrong person or simply changing your mind, this guide will walk you through the steps to reverse a Capitec Bank Cash Send transaction.
Understanding Capitec Bank Cash Send
Capitec’s Cash Send allows you to send money to anyone, even if they don’t have a bank account.
The recipient can withdraw the cash using a unique C-number and a four-digit PIN that you set.
This process is simple and can be completed at any Capitec Bank ATM or participating retailers across South Africa, including:
- Builders Warehouse
- Game stores
- Boxer
- Pick n Pay
- Shoprite
- Shoprite USave
- Checkers
- Makro
How to Reverse Capitec Bank Cash Send
There are times when you might need to reverse a Cash Send transaction. The good news is that it’s possible, but only if the voucher hasn’t been redeemed yet. Once the money is withdrawn, the transaction cannot be reversed. Here’s how you can reverse a Capitec Bank Cash Send:
Step 1: Contact Capitec Bank
- Call Capitec Bank: Dial 0860 102 043 to reach Capitec’s customer service.
- Text Capitec Bank: Alternatively, you can send a text message to the same number.
Step 2: Request Reversal
- Inform the consultant that you want to reverse a Cash Send transaction.
- The consultant will guide you through the process to ensure that the funds are returned to your account.
Step 3: Waiting Period and Fees
- There may be a 24-hour waiting period before the funds are credited back to your account.
- Fee: Reversing a Cash Send transaction incurs a non-refundable fee of R160.00, whether the reversal is successful or not.
Alternative Method for Reversing Cash Send
If you prefer not to call Capitec Bank, you can visit your nearest Capitec branch for assistance. Keep in mind that the Capitec Bank app currently does not support reversing Cash Send transactions. However, if the voucher is not redeemed within 30 days, the money will automatically be refunded to your account, free of charge.
Changing the PIN Code
If you’ve already shared the C-number and PIN but need to prevent the recipient from accessing the money, you can change the PIN code through the Capitec Bank app. This service is free, and you can do it as many times as needed to protect your funds.
Cash Send Fees
Sending money through Capitec Bank Cash Send comes with a fee, which varies based on the amount sent:
- R16.00 for amounts between R1010.00 and R3000.00
- R8.00 for amounts between R40.00 and R1000.00
Comparison with Other Banks
When it comes to sending money, Capitec Bank is just one of the options. Here’s how their service compares to other major South African banks:
FNB eWallet
- Fee: R10.95 for amounts up to R1000.00
- Withdrawal Points: FNB ATMs, selected retail stores
- Daily Limit: R3000.00
Standard Bank Instant Money
- Fee: R10.00 for amounts up to R1000.00
- Withdrawal Points: Standard Bank ATMs, selected retail stores
- Daily Limit: R5000.00
Frequently Asked Questions
How do I reverse my cash send?
To reverse a Capitec Cash Send, call Capitec customer support at 0860 102 043 or visit a Capitec branch. The reversal fee is R160.00.
What to do if you forgot your PIN for Capitec cash send?
If you forget your PIN for Capitec Cash Send, you can change the PIN using the Capitec Bank app.
How do I retrieve a Capitec cash send?
To retrieve a Capitec Cash Send, the recipient needs the C-number and the four-digit PIN. The recipient can then withdraw the money from any Capitec ATM or participating retailer.
How long does a Capitec cash send last?
Capitec Cash Send vouchers expire after 30 days. If not redeemed within this period, the money is automatically refunded to the sender’s account.
How do I receive cash send?
To receive a Capitec Cash Send, the recipient must use the C-number and the four-digit PIN provided by the sender to withdraw the cash from a Capitec ATM or participating retailer.
Which bank can I withdraw Capitec cash send?
Capitec Cash Send withdrawals can be made from any Capitec ATM and several participating retailers such as Shoprite, Checkers, and Pick n Pay.
Where can I get Capitec cash back?
You can get Capitec cash back at various retailers like Shoprite, Checkers, Pick n Pay, Makro, and Builders Warehouse.
Can I withdraw Capitec cash send at Pep store?
Currently, Capitec Cash Send cannot be withdrawn at Pep stores.
How long can cash send be withdrawn?
Capitec Cash Send vouchers are valid for 30 days. If not withdrawn within this period, the funds will be returned to the sender’s account.
Conclusion
Reversing a Capitec Bank Cash Send is straightforward, provided the cash hasn’t been withdrawn.
You can either contact Capitec Bank directly, visit a branch, or simply wait for the voucher to expire.
Always double-check the recipient’s details before sending money to avoid the hassle of reversing a transaction.
By understanding how the process works, you can better manage your finances and prevent any potential issues.