Do you wish to learn how to reverse TymeBank Send Money? SendMoney is one of the popular mobile money sending services that are available to South Africans. It’s a bit sad that a number of banks used the same name Send Money or Cash Send, making the entire thing a bit confusing. One would have thought they would come up with unique names like MTN MoMo. In any case, that’s another story. So, how do you cancel a Tyme Bank SendMoney transaction?
How to cancel Tyme Bank SendMoney
Once you have send money using TymeBank Send Money, the transaction cannot be reversed. The only thing that you can do is to wait 7 days. If the money is not collected within this timeframe, it will automatically be deposited back into your account.
Mobile money is growing
That’s how to reverse TymeBank Send Money. One thing to note is that mobile money use has been catching on in South Africa, with millions of transactions happening every months.
In terms of mobile money wallets, the country lags a bit behind when compared to other African countries. That’s mostly because South Africans are spoiled for choice when it comes to sending money.
But why use this method to send money? There are a number of reasons. The biggest benefit is that money gets sent to a person’s phone number without the need for them to have a bank account.
That’ makes banking accessible to everyone in South Africa who has a phone number. Another benefit is that money that is send this way can be collected from a wide range of outlets. You can get your money at an ATM or an one of the affiliated retailers.
In this article, we showed you how to reverse TymeBank Send Money. It was noted that this is a service that allows Tyme Bank customers to send money to anyone in South Africa who has a phone number.
In terms of reversing a transaction, it cannot be done. The only thing that you can do is to wait 7 days for the transaction to expire and for money to be automatically sent back into your bank account.