Reversing a debit order can be necessary if you notice an unauthorized transaction or if there was an error in the debit amount. FNB (First National Bank) provides a streamlined process for disputing and reversing debit orders through its various banking channels. This guide will outline how to reverse a debit order using the information from the FNB DebiCheck Order Stop Payment FAQ document.
What is a Debit Order?
A debit order is an agreement or mandate you provide to a third party, such as your service provider, to collect money from your bank account on a once-off or regular basis (e.g., monthly or annually). You can choose whether it will be a fixed amount (e.g., a loan repayment) or a variable amount (e.g., monthly cell phone charge).
What is a Debit Order Dispute?
A debit order dispute means you are requesting FNB to reverse a debit order collection against your bank account. You cannot dispute a debit order collection that you have already disputed or a debit order collection that is older than 365 days as of the date of your dispute.
When Can You Dispute a Debit Order Collection?
You can dispute a debit order collection for several reasons:
- You did not authorize the debit order, which could be due to a fraudulent act.
- The debit order is in contravention with your authority (e.g., the amount or date is incorrect).
- You have previously instructed the third party to cancel the debit order.
- A third party has collected a debit order in a manner you did not authorize (e.g., the collection amount has been split).
- The debit order was previously stopped with the bank by loading a stop payment.
How to Dispute/Reverse a Debit Order Collection
You can dispute or reverse a debit order collection through the following methods:
1. FNB Banking App
- Log in using your username and password.
- Select “Accounts.”
- Select your debit order collection account and choose “Account Options.”
- Select “My Debit Orders.”
- Choose the debit order collection you want to dispute/reverse.
- Select “Dispute.”
- Select the reason for disputing the debit order collection and choose “Continue.”
- Confirm the debit order collection details and select “Confirm.”
- A success screen will be displayed.
2. Online Banking
- Log in using your username and password.
- Select “My Bank Accounts.”
- Click the Menu option, select your debit order collection account, and choose the “My Debit Orders” tab.
- Select the debit order collection you want to dispute/reverse.
- Click the “Dispute” button.
- Select the reason for disputing the debit order collection and choose “Dispute.”
- Confirm the debit order collection details and select “Confirm.”
- A success screen will be displayed; select “Finish” to conclude.
3. Cellphone Banking
- Dial *120*321#, log in using your PIN, and select “Bank.”
- Select “My Debit Orders.”
- Select “View All” and choose your debit order collection account.
- Select the date range and choose the debit order collection you want to dispute.
- Select “Dispute” and choose “Continue.”
- Select the reason for disputing the debit order collection.
- Confirm the debit order collection details and select “Confirm.”
- A success screen will be displayed.
Important Considerations
Timing: You must dispute a debit order collection within 40 days for it to be processed successfully. Collections older than this may still be disputed but will not be reversed immediately.
Caution with Valid Debit Orders: Be careful when disputing valid debit orders, as this could lead to a breach of your contract with the third party, negatively impacting your credit rating.
Fees: FNB does not charge for disputing unauthorized debit order collections using the FNB Banking App, Cellphone Banking, or Online Banking. However, there may be charges for disputing valid debit orders.
Conclusion
Reversing a debit order on FNB is a straightforward process that can be done via the FNB Banking App, Online Banking, or Cellphone Banking. By following the outlined steps, you can ensure that your disputes are managed effectively and efficiently.
For more detailed information, feel free to visit the FNB Official Website or contact FNB customer support for assistance. Stay in control of your finances with FNB!
