How to Transfer & Reverse Money Between South African Banks

Bykallis

Transferring or reversing money between South African banks might seem complicated, but the process is actually straightforward once you know the right steps. Whether you sent cash to the wrong account, need to switch funds between your own bank profiles, or want to fix a mistaken EFT, South African banks offer clear methods to help you sort things out quickly.

Transfer Money From Capitec To Tymebank

Transferring money from your Capitec account to a TymeBank account is a seamless and efficient process. You can complete the transaction via the Capitec app, which provides a simple and secure method for sending funds.

Transfer Money Using the Capitec App

Here’s a step-by-step guide to help you with the transfer.

  1. Log in to the App
    • Open the Capitec app on your smartphone.
    • Enter your secret Remote PIN to sign in to your account.
  2. Choose Transfer Money
    • From the home screen, tap “Transact” and select “Transfer Money.”
  3. Select the Accounts
    • Choose the “From” account (your Capitec account) and the “To” account (TymeBank).
    • If you are sending money to TymeBank for the first time, you will need to add it as a beneficiary:
      • Tap “Add Beneficiary.”
      • Select “Add Bank Account.”
      • Enter the recipient’s TymeBank account number and name.
      • Choose “TymeBank” from the list of banks and save the beneficiary details.
  4. Enter the Transfer Amount
    • Input the amount you wish to send to the TymeBank account.
  5. Confirm the Transfer
    • Review the transaction details to make sure everything is correct.
    • Tap “Transfer” and enter your Remote PIN to authorize the transfer.
  6. Receive Confirmation
    • Once the transaction is complete, you will receive a confirmation message indicating that the transfer was successful.
    • Note: Transfers between Capitec and TymeBank typically take 1–2 business days to reflect in the recipient’s account.

Guide to Sending Money from FNB to Capitec

1. Log in to FNB Online or Mobile Banking

Start by accessing your FNB account through the online banking platform or FNB mobile app. Use your secure login credentials to enter your account.

2. Navigate to ‘Send Money’

Once logged in, locate the ‘Send Money’ option from the main menu. This feature enables users to transfer funds conveniently.

3. Choose ‘Send Money to eWallet’

From the available transfer methods, select ‘Send Money to eWallet’. This option allows you to send money using the recipient’s cellphone number, which they can withdraw via Capitec.

4. Select Your Source Account

If you have multiple FNB accounts, choose the correct account from which the funds will be deducted.

5. Enter Transfer Details

  • Amount: Specify the amount you want to transfer.
  • Recipient’s Cellphone Number: Enter the mobile number linked to the recipient’s Capitec account.
  • Double-Check Details: Ensure that all information entered is correct to avoid errors.

6. Confirm and Complete the Transfer

  • Click ‘Send’ to process the transaction.
  • Review all transaction details, including the recipient’s information and the amount.
  • Once confirmed, the money will be sent instantly.

Additional Information

  • Fees: Capitec may charge a small fee for transferring money to TymeBank. Check with Capitec for the latest fee structure.
  • Processing Time: Depending on when the transfer is made, it may take up to 1-2 business days for the funds to be available in the TymeBank account.

How to Reverse Money on the Capitec App?

You can reverse the Transion within the time frame through the Capitec App. Follow these steps;

  1. Open the Capitec App – If you have the Ave Capitec App on your mobile phone then open and sign in according to your account credentials. Other down the Capitec App from your Google Play Store or Apple Store. Then sign up and sign in according to the credentials.
  2. Find the “Transact” menu – Once you login then find the Transact menu that is present at the bottom on the mobile screen. Tap it to open the Transact Menu. This section holds all the transaction details including the payment Transaction History.
  3. Navigate to Transaction History – in the transaction section you have to find and click Transaction History” or “Payment History”. By clicking it you find all the details of your transaction.
  4. Locate the Reversible Transaction – From the list of Transactions you have to find the specific transaction that you want to reverse. Click it to get the transaction details.
  5. Ensure the Reversible Eligibility – All the transactions are not reversible. Only the capitec and EFT (Electronic Fund Transfer) transactions are reversible within a time frame. Check whether the Transaction Reversal is available or not.
  6. Navigate to Reverse Transaction – If your selected transaction is reversible then locate the “ Reverse” button and tap it. You may be asked for confirmation.
  7. Confirm Reverse – After your confirmation, the Reverse Process starts and you may be asked for additional information like PIN, Password or other User Authentications.
  8. Wait for Reversal Conformation – Once the Reversal process starts it takes time to reverse the Transaction into your account. So wait for it. When the transaction is reversed you get a confirmation notification on your Capitec App.
  9. Contact Customer Support (if needed) – If you are not able to reverse your transaction due to some issue. If the reverse option is not available or some other issue is encountered during reversion then contact Customer Support for assistance. They further guide you manually or by the process that is required.

FAQ’s

How do I request a reversal?

You must contact your bank’s customer support or use the reversal option inside your banking app if available.

Is there a fee for reversing a payment?

Yes, most banks charge a reversal fee. Costs vary depending on the bank.

Can a bank guarantee a successful reversal?

No, banks cannot guarantee reversals because it depends on whether the recipient has withdrawn or used the funds.

What information do I need for a reversal request?

You usually need the transaction reference, amount, date, and recipient details.

Can I reverse an immediate or instant payment?

Instant payments are harder to reverse but still possible if the funds remain in the recipient’s account.

What happens if I send money to a closed bank account?

The funds usually bounce back automatically to your account within a few business days.

Transferring money from Capitec to TymeBank is a straightforward process that can be done through the Capitec banking app, USSD, or via online banking. By ensuring you have the correct recipient details and following the step-by-step instructions, you can complete the transfer securely and efficiently.

kallis
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