Q: What is Standard Bank Instant Money?
A: Standard Bank Instant Money is a financial service that allows individuals to send money to anyone with a valid South African mobile number through their smartphone or online banking platform.
Q: Is it possible to reverse a Standard Bank Instant Money transaction?
A: Yes, it is possible to reverse a Standard Bank Instant Money transaction. However, there are certain conditions that need to be met before a reversal can be processed.
Q: What are the conditions for reversing a Standard Bank Instant Money transaction?
A: The conditions for reversing a Standard Bank Instant Money transaction include:
- The amount sent must not have been withdrawn by the recipient.
- The transaction must have been initiated by the sender.
- The reversal request must be made within 30 days of the original transaction.
- The sender must have sufficient funds in their account to cover the reversal amount.
Q: How can I request a reversal of a Standard Bank Instant Money transaction?
A: To request a reversal of a Standard Bank Instant Money transaction, you will need to contact the Standard Bank Customer Care Centre at 0860 123 000. They will guide you through the process and advise you on the documents that need to be submitted.
Q: What documents are required for a Standard Bank Instant Money transaction reversal?
A: To initiate a Standard Bank Instant Money transaction reversal, you will need to provide the following documents:
- Proof of payment
- Identification documents for both the sender and recipient
- A signed affidavit explaining the reason for the reversal request
- Any other relevant documents that may be requested by Standard Bank
Q: How long does it take to process a Standard Bank Instant Money transaction reversal?
A: The processing time for a Standard Bank Instant Money transaction reversal varies depending on the complexity of the transaction and the documentation provided. However, Standard Bank aims to process reversal requests within 2 to 3 business days.
Q: Is there a fee for Standard Bank Instant Money transaction reversals?
A: Yes, there is a fee for Standard Bank Instant Money transaction reversals. The fee charged is typically a percentage of the transaction amount, and it varies based on the amount of the transaction.
Q: Can I reverse a Standard Bank Instant Money transaction if the recipient has withdrawn the funds?
A: No, it is not possible to reverse a Standard Bank Instant Money transaction if the recipient has already withdrawn the funds. In this case, the sender will need to contact the recipient to request that the funds be returned.
Q: What should I do if a Standard Bank Instant Money transaction reversal is unsuccessful?
A: If a Standard Bank Instant Money transaction reversal is unsuccessful, you should contact the Standard Bank Customer Care Centre at 0860 123 000 for assistance. They will be able to advise you on the next steps to take.
