How do I reverse a payment on the Standard Bank app?
To reverse a payment on the Standard Bank app, you need to follow certain steps. Let us guide you through the process.
What are the prerequisites for reversing a payment through the app?
To successfully reverse a payment, a few prerequisites need to be met. You must have made the payment through the Standard Bank app, and the payment should have been made to another Standard Bank account holder. Plus, the payment should be in process, and not completed.
What are the steps to reverse a payment on the Standard Bank app?
Here are the steps you need to follow to reverse a payment on the Standard Bank app:
1. Launch the Standard Bank app on your device.
2. Navigate to the “Transact” tab and select “Payments.”
3. Look for the “Scheduled Payments” tile and click on it.
4. Select the payment you want to reverse and click on it.
5. Press the “Reverse Payment” button and provide the reason for the reversal.
6. Confirm the reversal and wait for the confirmation message to pop up to indicate that the payment has been reversed.
What is the difference between reversing a payment and stopping a payment?
Stopping a payment requires you to contact the bank directly, either by phone or in person. Stopping a payment means that you want to cancel a payment that has already been processed. Reversing a payment, on the other hand, means canceling a payment that is still in progress.
How long does it take for the payment to be reversed?
Once you have requested payment reversal, it can take up to 24 hours. However, this timeline may vary depending on Standard Bank’s policy and the nature of the payment.
Are there any charges applied for reversing a payment through the Standard Bank app?
There are no charges for reversing a payment through the Standard Bank app.
What should I do if I cannot reverse the payment through the app?
Sometimes, the payment reversal feature may not be available through the app due to certain restrictions. In this case, you should contact Standard Bank’s customer service for assistance. You will be required to provide information about the payment, including the reference number, the recipient’s name, and the date.
Is payment reversal possible for non-Standard Bank account holders?
No, payment reversal is only possible for payments made to Standard Bank account holders.
In conclusion, reversing a payment on the Standard Bank app is a quick and straightforward process that can be completed by following a few simple steps. However, it is important to note that certain prerequisites need to be met, such as making the payment to a Standard Bank account holder and the payment being in progress. If you encounter any challenges or can’t reverse the payment on the app, you can always contact Standard Bank customer service for assistance.
