eWallet by FNB is the most popular mobile banking/money service in South Africa.
Every year, billions of Rands are sent using eWallet; to the tune of over R26 billion in 2018, and the number keeps on growing.
The ease of the service is what makes it very popular. You can simply transfer money from your bank account to a registered mobile phone number, unlike the old way where you could only send to another bank account.
This ease in sending is only matched by the ease of receiving and withdrawing. Once the money is in the recipient’s phone, it can be accessed from any FNB ATM.
Now, with such relative ease of sending, errors are bound to happen. Typing a single digit wrong can send the money straight into another person’s phone number.
That’s where a reversal becomes important.
Can eWallet money be reversed?
Yes you can reverse a transaction if the money was sent to the wrong person. However, time is not on your side.
Not everyone is honest, and if you delay in making a reversal request, the money may have been withdrawn. If that’s the case, contact FNB and they will advise on whether it is possible to recover your money.
How to reverse FNB eWallet payment.
There are two ways you can perform a payment reversal on eWallet.
1. Do it yourself using a USSD code.
Ensure that you have some airtime, then perform these USSD actions.
/ Dial *120*321#.
/ Select option 4 (Send money)
/ Select option 5 (eWallet reversal)
/ Select your transaction and you’re done.
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2. Call FNB customer care.
If you are not as savvy, or are experiencing problems with the USSD code, you can always go the traditional route and call FNB customer care.
The number is: 087 575 9405.
If you want to escalate the situation, for example if the reversal is not possible due to recipient withdrawal, you should call FNB complaints resolution desk.
The number is: 087 575 9408
Can eWallet payment be reversed on the App?
Unfortunately, there is currently no way to reverse a payment through the app.
How much does it cost to reverse an eWallet payment?
Reversing an eWallet payment is unfortunately not free. Depending on how much you want to reverse, it may not be cheap either.
FNB charges R50 for the reversal.
How long will my eWallet reversal take?
Any eWallet reversal will be initiated immediately FNB is notified. This can be through the USSD code or through calling them.
However, the money can take up to 4 business days to reflect on your account.
You should also note that an eWallet reversal is not guaranteed. There may simply be no money to reverse, particularly in cases where the sender did not initiate the reversal fast enough.
As we had mentioned earlier, the moment you realize your mistake, act fast as time is not on your side.
In case the money was sent to a dormant number, the money will be reversed within 15 business days.
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The only way you can ensure you don’t find yourself in this predicament is by always double or triple checking your recipient’s details before clicking send.
