FNB eWallet Reversal – The Quickest Way To Get Your Money Back!

Banking

Have you mistakenly sent ewallet to the wrong number and want to know how to quickly reverse the money transfer?

In this article, I’m going to show you the quickest steps to reverse your FNB eWallet payment.

In fact, this is by far the option available for your FNB eWallet reversal.

Let me show you quickly.

How To Reverse The FNB eWallet Payment

Don’t panic, you can still recover your money.

Use the USSD mobile banking service to reverse ewallet transactions sent to the wrong recipient or cellphone numbers.

Your money may not be reversed instantly but the recipient will also not have the ability to withdraw the money as well.

Follow these steps on your phone to reverse your e-wallet:

  1. Dial *120*321# on your phone to access mobile banking.
  2. Select “Send Money” (option 4).
  3. Select “eWallet reversal” (option 3).
  4. Now, select the transaction that you need to reverse.

Follow the same steps you’d use to send the eWallet.

Access your FNB cellphone banking by dialing *120*321# on your phone;

Enter the pin to access the banking services;

Choose Send Money (Option 4) and then next;

Choose eWallet reversal (Option 3) and the next;

The next screen will list for you the ewallet amount you’re trying to reverse or stop.

And then, you would need to advise the reason to reverse the payment, perhaps it’s a fraud or sent to the wrong number.

And you’re done.

Now you wait for the reversal to be processed and actually paid back into your banking account.

By actioning the above-mentioned steps, you’re flagging the transaction so that the wrong recipient doesn’t withdraw the money.

FNB will also immediately begin investigating the transaction and stop the withdrawal of the money while processing your request to reverse the eWallet payment.

The Second Option

Alternatively, you could contact the FNB eWallet call centre on 087 575 9405 and request a reversal.

This process is a bit frustrating, considering the bank receives a large volume of phone calls and you might wait a bit to be assisted. You’ll lose money on the call as compared to using the USSD method above which will cost you not more than R3.

But it’s your call – whichever method works best for you and can get your back fast.

How Much Does It Cost?

As indicated, FNB may incur a fee for eWallet reversals.

Some existing clients that had to face this process say FNB had charged them about R50 to reverse their ewallet transaction.

The fee depends on the amount you’ve sent and would like to reverse. In my case, I was charged R18 to reverse a R300 FNB ewallet transaction.

Though FNB doesn’t guarantee you’ll get your money back due to various reasons, you must always double-check the contact number.

How Long Does It Take?

Unfortunately, the reversal is not instant, FNB would need some time to process the request. They would need to verify and validate your request.

FNB takes about 14 business working days to process any wrongful payment.

And the bank doesn’t guarantee you’ll get the money back and if successful, they’ll charge a reversal fee.

Preventing Future Mistakes

The ability to reverse a transaction depends on various factors including the recipient’s actions and the bank’s policies.

Acting quickly increases the chances of a successful reversal. For specific and updated procedures, it’s always best to refer to FNB’s official guidelines or speak directly with their customer service representatives.

Keep the following in mind when sending ewallet to avoid costly mistakes.

Double-Check Details: Always double-check the recipient’s phone number before confirming the transaction. This simple step can prevent most errors.

Use Contacts: If possible, select the recipient’s number directly from your contacts using the app to avoid manual entry errors and mistakes.

Transaction Limits: Set a transaction limit for eWallet transfers. This can limit the impact of a mistaken transfer.

Regular Review: Regularly review your transaction history to keep track of all your eWallet activities.

Educate Yourself: Familiarize yourself with FNB’s policies and procedures regarding eWallet transactions, including reversal processes.

Use Confirmation Features: If available, use any confirmation features or prompts provided by FNB’s eWallet service that can help you ensure you’re sending money to the intended recipient.

B eWallet Reversal FAQs

FNB eWallet reversal can be a complex process, and there are several frequently asked questions (FAQs) that customers commonly have. Here are some of the most common FAQs:

Can I reverse an FNB eWallet transaction?

Yes, it is possible to reverse an FNB eWallet transaction, but the success of the reversal depends on whether the recipient has already withdrawn the funds. 

How do I initiate an eWallet reversal?

To initiate a reversal, contact FNB customer service immediately after realizing the mistake. You will need to provide details of the transaction for verification.

How long does it take to reverse an eWallet transaction?

The time taken for a reversal can vary. It depends on factors such as the quickness of your response, the recipient’s actions, and the bank’s processing time.

If you were unfortunately defrauded, the reversal process will take longer due to investigations that need to happen.

What information do I need to provide for a reversal?

You will typically need to provide your account details, the amount sent, the recipient’s phone number, and the time of the transaction.

What happens if the recipient has already withdrawn the funds?

If the recipient has already withdrawn the funds, a reversal is usually not possible. However, FNB may offer assistance in contacting the recipient to request a refund.

Are there any fees for reversing an eWallet transaction?

This depends on FNB’s policy. Some banks may charge a fee for the reversal process, while others may not.

Can I reverse a partial amount of the eWallet transaction?

Generally, reversals apply to the entire amount of the transaction. Partial reversals are typically not supported.

What should I do if I don’t recognize an eWallet transaction?

If you notice an unauthorized eWallet transaction, contact FNB immediately. This could be a case of fraud, and the bank will take necessary actions.

How can I prevent mistakes in future eWallet transactions?

Always double-check the recipient’s details before confirming a transaction. Use contact lists to avoid manual errors and set transaction limits for added security.

Is there a deadline to request an eWallet reversal?

Yes, there is usually a deadline for reversal requests. The specific time frame can be confirmed with FNB’s customer service.

Read more about the FNB eWallet at www.fnb.co.za.