What is Instant Money on Standard Bank App?
Instant Money on Standard Bank App is a money transfer service provided by Standard Bank that allows you to send cash to anyone in South Africa even if they do not have a bank account.
Can I reverse Instant Money once it has been sent?
Yes, you can reverse an Instant Money transaction on the Standard Bank App as long as the recipient has not yet withdrawn the cash.
How do I reverse an Instant Money transaction on the Standard Bank App?
To reverse an Instant Money transaction on the Standard Bank App, follow these steps:
1. Open the Standard Bank App
2. Click on the ‘More’ tab
3. Click on Instant Money
4. Click on ‘View Transactions’
5. Choose the transaction you wish to reverse
6. Click on ‘Reverse’
7. Enter the amount you wish to reverse
8. Confirm the reversal by clicking ‘Reverse Transaction’
How long do I have to reverse an Instant Money transaction on the Standard Bank App?
You can only reverse an Instant Money transaction on the Standard Bank App if the recipient has not yet withdrawn the cash. Therefore, it’s recommended that you reverse the transaction as soon as possible.
What if the recipient has already withdrawn the cash?
If the recipient has already withdrawn the cash, you will not be able to reverse the transaction on the Standard Bank App. In such cases, you will have to contact the recipient directly and request them to return the cash to you.
Will I be charged a fee for reversing an Instant Money transaction on the Standard Bank App?
Yes, you will be charged a fee for reversing the Instant Money transaction on the Standard Bank App. The fee is usually determined by the type of account you have with Standard Bank.
How long will it take for the funds to be returned to my account after reversing an Instant Money transaction on the Standard Bank App?
The time it takes for the funds to be returned to your account after the reversal of an Instant Money transaction on the Standard Bank App varies. However, it usually takes two to three business days for the funds to reflect in your account.
What if I made a mistake and sent the money to the wrong recipient?
If you mistakenly send money to the wrong recipient, you will have to contact the recipient and request them to return the cash to you. You can also escalate the issue to Standard Bank’s customer service department for further assistance.
What should I do if I’m unable to reverse an Instant Money transaction?
If you’re unable to reverse an Instant Money transaction on the Standard Bank App, contact the Standard Bank App’s customer service department for further assistance. They will guide you on what to do next.
In conclusion, in case you want to reverse an Instant Money transaction on the Standard Bank App, ensure that the recipient has not yet withdrawn the cash, and follow the simple steps above. In case of any issues or queries, do not hesitate to reach out to Standard Bank’s customer service team.
