Do you wish to learn how to reverse Standard Bank Instant Money? Standard Bank Instant Money allows people across South Africa to send and receive money on their mobile numbers. It works even when the recipient does not have a bank account. It’s also possible to keep your money in an Instant Money wallet. But let’s assume that you have erroneously sent money to someone using Instant Money, how do you go about reversing the transaction?
Can I reverse instant money Standard Bank?
The first question to answer is, can you reverse Standard Bank Instant Money? The answer is yes, it’s possible to reverse an Instant Money transaction. We outline how to do this below.
Standard Bank Instant Money Reversal Steps
The following is how to Standard Bank Instant Money;
- Sign into the Standard Bank internet banking portal.
- Go to Payments.
- Click on Instant Money.
- Choose Cancel Instant Money transaction.
- Click on Next.
- Chose the transaction that you would like to reverse and click on Next.
- You will get a One Time Password on your phone. Enter it and click on Next.
- Type in your Cash Collection Pin and click Next
- Confirm cancellation.
What if the above steps fail?
That’s how to reverse an Instant Money transaction on Standard Bank. But what if the above steps fail? That can happen for a number of reasons, including having forgotten the Cash Collection PIN. What do you do then?
You can get help by reaching out to the Standard Bank Instant Money help team. They can reached on 0860 466 639. Once you have contacted them, they will be able to tell you what you need to do in order to reverse your transaction.
Why cancel a Standard Bank Instant Money Transaction?
In this post we showed you how to cancel Standard Bank Instant Money. But why would you do so? There are a number of reasons, one of which we have already covered.
Perhaps you sent money to someone by mistake. Maybe you wanted to send the money to someone else but you entered the wrong number.
Or maybe the money that you sent to someone has not been collected for one reason or the other. Perhaps the person to whom you sent the money cannot collect the money.
In this post, we showed you how to cancel Standard Bank Instant Money. It was noted that yes, it’s possible to reverse a transaction. That’s good news to those looking to cancel these transactions for one reason or the other. Cancellation can be done via online banking.