web analytics

How To Reverse Ewallet On Fnb?

Quick Summary

This blog post provides a comprehensive guide on how to reverse eWallet transactions on the FNB app. It covers two methods for reversing transactions, including step-by-step instructions and important considerations. The post also includes a FAQ section that addresses common questions about reversing eWallet payments.

Introduction

Welcome to Askly, your go-to source for answers to common questions. In this blog post, we will be discussing how to reverse an eWallet transaction on FNB (First National Bank). E-wallets have become increasingly popular in South Africa as a convenient way of sending and receiving money instantly. However, there may be instances where you need to reverse a transaction due to various reasons such as sending funds to the wrong recipient or needing the funds back for personal use.

In this article, we will provide you with comprehensive information sourced from external sources about reversing eWallet transactions on FNB. We’ll cover different methods available through the FNB app and USSD codes that can help facilitate reversals effectively.

Please note that while every effort has been made by our team at Askly.co.za to ensure accuracy in providing these instructions based on reliable sources; it is always recommended verifying any details mentioned here directly with official channels like contacting customer support or referring specifically provided links within each section before proceeding further.

What is an eWallet?

An eWallet, also known as a digital wallet, is a virtual account that allows users to store and manage their money electronically. It provides a convenient way for individuals to make online transactions without the need for physical cash or traditional banking methods.

eWallets are becoming increasingly popular due to their ease of use and accessibility. They can be accessed through mobile applications or websites, making it convenient for users to send and receive funds anytime, anywhere.

In South Africa, one prominent provider of eWallet services is FNB (First National Bank). The FNB app offers various features including the ability to create an e-Wallet account linked directly with your bank account.

With an e-Wallet on the FNB app, you can easily transfer money between accounts within seconds. However, sometimes mistakes happen during these transfers which may require reversing the transaction in order to correct any errors made.

Why would you want to reverse an eWallet transaction?

An eWallet is a convenient way to send and receive money instantly. However, there may be instances where you need to reverse or cancel a transaction that has already been made. Here are some common reasons why someone might want to reverse an eWallet transaction:

1. Wrong recipient:

One of the most common reasons for wanting to reverse an eWallet payment is sending it to the wrong person by mistake. This can happen due to typing errors in the recipient’s cellphone number or selecting the wrong contact from your phonebook.

2. Incorrect amount:

Another reason could be entering an incorrect amount when making a payment through your eWallet account.

3. Fraudulent activity:

In unfortunate cases of fraudulent activity, such as unauthorized access or suspicious transactions on your account, reversing the affected payments becomes necessary.

4. Technical issues:

Sometimes technical glitches can occur during transactions resulting in unintended transfers which require reversal.

5. Unsatisfactory service/product delivery:

If you have paid for goods/services using your eWallet but did not receive what was promised, you may consider requesting a reversal.

It’s important always double-checking all details before confirming any transfer via E-wallet services like FNB app. However, if mistakes do happen, FNB provides options for users who wish to request reversals under certain circumstances.

Method 1: Reversing an eWallet transaction on the FNB app

Step 1: Open the FNB app

To begin reversing an eWallet transaction on the FNB (First National Bank) app, open the application on your mobile device. Make sure you have a stable internet connection.

Step 2: Navigate to the eWallet section

Once you are logged into your account, navigate to the “eWallet” section within the app. This is where all of your e-wallet transactions and details will be displayed.

Step 3: Select the transaction you want to reverse

Within this section, locate and select or tap on the transaction that you want to reverse. This will bring up the transaction details and options for reversing the transaction.

Method 2: Reversing an eWallet transaction using USSD codes

If you prefer not to use the FNB app, you can also reverse an eWallet transaction using USSD codes. Follow these steps:

Step 1: Dial *120*321# on your phone’s dialer.

By entering this code, you will initiate the process of reversing your eWallet transaction.

Step 2: Follow the voice prompts.

Once you have dialed the code, listen carefully to the voice prompts that guide you through each step of reversing a transaction.

Step 3: Select option 4 for reversals.

During the call, select option number four when prompted. This selection indicates that you want to proceed with a reversal request.

Step 4: Provide necessary details like account information and transaction reference number.

To ensure accuracy and proper identification of your specific payment, be prepared to provide relevant details such as your account information (if requested) and most importantly, make sure to input or state correctly any provided unique identifier associated with your original transfer – typically referred to as a “transaction reference number.”

Note:

It is crucial at this stage in particular because providing incorrect or incomplete data may result in delays or even failure during processing. Therefore it is essential always double-check before confirming anything related specifically regarding sensitive financial transactions involving personal accounts!

Step 5: Confirm The Reversal Request

Once all required fields are completed accurately according instructions given by system, confirm final submission.

Remember:

  • It’s important keep track record every detail pertaining sent funds including recipient cellphone numbers used making transfers avoid wrong payments future.
  • There might be fee R50 charged per reversed ewallet via fnb depending bank policies.
  • The duration time takes reflect balance depends various factors network connectivity load systems involved.

Following above mentioned steps should help successfully reverse unwanted E-wallet transactions without much hassle!

Important considerations when reversing an eWallet transaction

When it comes to reversing an eWallet transaction, there are a few important factors that you should consider. These considerations will help ensure a smooth and successful reversal process.

1. Double-check recipient details before sending money:

Before initiating any payment through your eWallet, it is crucial to double-check the recipient’s details. Ensure that you have entered the correct cellphone number or email address associated with their eWallet account. This step is essential because once funds are sent, they cannot be reversed unless the recipient agrees to return them voluntarily.

2. Be aware of the fee for reversing eWallet transactions through FNB:

It’s worth noting that First National Bank (FNB) charges a fee for processing reversals on its platform. Currently, this fee stands at R50 per reversal request made via either method mentioned earlier – using the FNB app or USSD codes (*120*321#). Therefore, if you decide to reverse an e-wallet transaction through FNB, keep in mind that this additional cost will apply.

3. The duration for reversal reflection depends on various factors:

The time taken for a reversed transaction to reflect back into your own wallet can vary depending on several factors such as network connectivity and system load at any given moment. While some reversals may occur almost instantly after confirmation from both parties involved (sender and receiver), others might take longer due to technical reasons beyond anyone’s control. Therefore, it would be wise not to rely solely upon immediate availability but rather allow a sufficient time frame within which one expects completion based on previous experiences encountered during similar situations.

By considering these points carefully before attempting an eWallet transfer, reversal requests can proceed more smoothly without unnecessary complications arising along the way.

Frequently Asked Questions

Can I reverse a payment made to the wrong recipient?

Yes, it is possible to reverse a payment made to the wrong recipient. However, it is important to act quickly and follow the necessary steps provided by your eWallet provider or bank. In most cases, you will need to contact customer support and provide them with details of the transaction such as account information and transaction reference number. They will then initiate the reversal process on your behalf.

How long does it take for the reversal to reflect in my eWallet balance?

The time taken for a reversal reflection in your eWallet balance can vary depending on various factors such as network connectivity and system load. It is best practice not only check with your specific eWallet provider but also allow some time for processing before expecting any changes in your balance.

What is the fee for reversing eWallet payments?

When using FNB’s app, there may be a fee associated with reversing an e-Wallet payment which amounts up R50 per request according external sources. This amount could change over time so we recommend checking directly from official channels like contacting FNB customer care desk or visiting their website.

Can I reverse payments made using different bank apps?

Reversing payments that were initiated through other banks’ apps would require following similar procedures outlined above; however, the exact method might differ slightly between providers. It’s always recommended reaching out directly either via phone call, email, or live chat feature available within respective banking applications.

References

  1. https://www.youtube.com/watch?v=n_4FpY0xYXg
  2. https://blog.skymartbw.com/how-tos/reverse-ewallet-in-botswana-south-africa/
  3. https://askly.co.za/how-to-reverse-ewallet-via-fnb-app/

Latest Questions Answered