How to Reverse Payments on Capitec App (2023)

Capitec is quickly becoming one of the most popular banks among the younger generation of South Africans. The bank was rated the best bank in the world by Lafferty for two consecutive years and has become the second-largest retail bank in South Africa. The Capitec app has also become one of the most popular banking and money transfer apps in the country. Capitec has 120,000 new customers every month!

You can make transfers from one Capitec bank account to another, and also from a Capitec Account to other banks, right from the comfort of your home or office, using your mobile phone. There are two major ways of doing this; The Capitec App, and the USSD code. 

But what happens when you mistakenly send money to the wrong bank account, or if your banking app was used without your permission? You need to reverse the payment. The question, therefore, is how do I reverse payment on Capitec App that is not a debit order?

How to Reverse Money Using Capitec app

In the event that someone has used your Capitec app without your permission, or that you have made a transfer in error, or maybe you have just changed your mind about a transaction, and no longer want to follow through with it, you may want to know how to reverse that transaction.

As progress is being made, you no longer have to go to the bank to dispute a transaction and ask for a reversal. But there are certain circumstances under which the payments can be reversed.

Simply sign in to the Capitec app on your phone, choose the debit order and dispute it. Here’s a step by step guide on how to reverse a debit order using Capitec App:

Step 1: Open your Capitec Mobile Banking app on your phone

Step 2: View the options and Select Transact

Step 3: After that, Select Debit Orders

Step 4: Then enter your Remote PIN to sign in

Step 5: Then select a debit order from the history menu

Step 6: Give a reason for the dispute from the options

Step 7: After that accept the agreement

That’s the procedure on how to reverse debit orders using the Capitec App.

Please note that Capitec has a policy of accepting disputes of only debit orders of R800 and below. That means if the order you wish to dispute and reverse exceeds R800 you will then have to kindly visit your nearest Capitec bank branch. The bank urges customers to only dispute unauthorized debits.

However, there is no guarantee that a reversal order will be attended to; this depends on the reason behind your withdrawal request, as well as your request meeting some other criteria set by the bank.

So what are these criteria under which reversal requests can only be attended to? 

The following are valid reasons to reverse debit order on Capitec App:

If your Capitec app was used without your knowledge.

If you are being billed twice for a purchase.

If you have made the payment in error.

If you were misled into making a payment.

 However, it is important to note that disputing a payment is not always a good thing; it can cause one to suffer certain consequences. Therefore, you have to think it through before going ahead to dispute a payment.  When you dispute a valid debit order, the following could happen: 

A disputed payment order can cause an insurance policy or service to be cancelled if the payment was going to the Insurance company.

A disputed payment can cause one to have a lower credit score and could cause one to have difficulty in getting new credit.

Under certain circumstances, it could cause being handed over for bad debt, or fraud, and that could cause one to incur more debt. 

Disputing a valid payment order could cause higher insurance premiums or arrears of interest in the future.

Disputing a valid payment can cause one to experience difficulty in entering into other agreements. Capitec may not even allow one to upgrade his account, and also the bank may not allow one to enjoy the value-added services such as loans and other services.

Let us also put the following warnings to your notice: 

There are some other criteria that must be met before a person can reverse payments.

Reversal of payments is not guaranteed, but it is only possible to reverse money back to your Capitec Bank account if you dispute the debit order immediately after it is done. Once a 40 day grace period expires, it may not be possible to make the reversal.

Even when a reversal request is accepted, it could take up to 24 hours for the reversal to be effected.

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Conclusion:

Going by the information you have just read, we can say that it is possible to reverse payments that have been made from your Capitec account, and then get the money back into your account; but it is not always a good idea to do so. Reversing a payment back to your account can be a form of fraud; when you reverse payments for a product that has been sent or delivered to you, you open yourself up to criminal charges.

If you are making a payment to an insurance company; apart from the charges of fraud for which you could become liable, other penalties could be incurred, such as losing your insurance cover, and also paying more in premiums, and also in interests.

Capitec does not randomly reverse payments that have been made for legitimate purchases, and so you would have to convince the bank about the legitimacy of your reversal order, and that it meets their criteria under which reversals can be done.

Capitec will not accept any liability for any use or misuse of its services. The company urges you to keep your phones, apps and banking passwords secret at all times and warns that if there are any issues that come up as a result of your reversal orders, you will face the consequences alone.