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How To Reverse Money On Standard Bank App

What Is Standard Bank?

Standard Bank is one of the leading financial institutions in South Africa that offers a range of banking solutions to its customers. The Standard Bank app is an innovative banking app that allows customers to manage their accounts, view transactions and make payments from their smartphones.

If you have made a payment using the Standard Bank app and you want to reverse it, here are the steps you need to follow:

Step 1: Open the Standard Bank app

Launch the Standard Bank app on your smartphone and log in to your account using your credentials.

Step 2: Navigate to the ‘Payments’ section

Once you are logged in to your account, navigate to the ‘Payments’ section of the app. Here, you will be able to view all the payments that you have made using the app.

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Step 3: Locate the payment you want to reverse

Next, locate the payment that you want to reverse. You can do this by either scrolling through the list of payments or by using the search bar to search for a specific payment.

Step 4: Tap on the payment

Once you have located the payment, tap on it to open its details. Here, you will be able to view the payment details, including the date, time, recipient and amount.

Step 5: Click on ‘Reverse Payment’

At the bottom of the screen, you will see an option that says ‘Reverse Payment’. Tap on this option to initiate the reversal process.

Step 6: Confirm the reversal

A pop-up window will appear, asking you to confirm the reversal. Read the message and ensure that you want to reverse the payment before clicking on ‘Confirm’.

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Step 7: Wait for the reversal to be processed

The reversal process may take some time to be completed, depending on the recipient bank and other factors. Once the reversal has been processed, you will receive a notification from Standard Bank confirming the reversal.

It is important to note that not all payments can be reversed. You can only reverse a payment if it has not been processed by the recipient bank. If the payment has already been processed, you will need to contact the recipient directly and request a refund.

In addition, there may be fees associated with reversing a payment, depending on the type of payment and the recipient bank. It is important to check with Standard Bank to confirm if there are any fees before initiating the reversal process.

Conclusion

The Standard Bank app is a convenient and easy-to-use banking app that allows customers to manage their accounts, view transactions and make payments from their smartphones. If you have made a payment using the app and you want to reverse it, the process is simple and can be completed within a few minutes. However, it is important to note that not all payments can be reversed, and there may be fees associated with the reversal process. If you have any questions or concerns, it is always best to contact Standard Bank for assistance.

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