You made a payment using FNB’s (First National Bank) eWallet service, and you just realized that you sent it to the wrong number. Don’t stress; as long as you reverse the transaction before the receiver tries to draw it, then you’ll be able to reverse the eWallet transaction and you’ll have your money back in your account within 5 days.
Reverse your eWallet payment with cell-phone banking by:
- Call *120*321# using your mobile phone.
- Select ‘send money’ which is option 04.
- Select ‘eWallet reversal’ which is option 05.
- You’ll now see your recent transactions, select the one you would like to reverse.
Done! It really is as simple as that.
If you don’t have cell-phone banking then keep reading. I’ll cover some options you have.
Other Ways To Reverse eWallet Payment
There are two other methods you can use to cancel a eWallet payment. You can:
- Call eWallet FNB on 087-575-9405.
- Email eWallet FNB at email@example.com.
Keep in mind that time isn’t exactly on your side, so if you want to get this done as quickly as possible, then I highly recommend you call FNB using the number provided above. If you try to email them to cancel the transaction then you run a high risk of losing the money all-together because they’ll take forever to respond.
What about reversing eWallet payments on the FNB mobile app? Reversing eWallet payments on the FNB mobile app is not possible as of yet. The app only allows you to send money via eWallet, and view recent transactions, however, there is no method to cancel or reverse the eWallet transaction.
If you’re wondering how long the eWallet reversal takes, keep reading. I’ll cover that in the next.
How Long Does It Take To Reverse Wallet?
When you send money to the wrong phone number you’re probably worried that the stranger will draw the money before the eWallet payment get’s reversed.
Once you reverse the eWallet payment through cell-phone banking, the transaction will be canceled instantly, which means the receiver won’t be able to access the money. That said, according to FNB, it will take 4 to 5 working days before the money will show back in your bank account.
How Long Does The eWallet Pin Last?
According to FNB, the eWallet pin only lasts for 4 hours. If the receiver did not withdraw the funds within that period of time, then you would have to request, and send them a new pin manually.
So if four hours have already passed and no one claimed the money you sent, then there is no possible way for your money rt disappear.
However it’s still worth reversing the transaction as soon as possible. Here’s why.
If you reverse/cancel the eWallet transaction then you’ll get your money back in 4 to 5 days, however if you send money to a wrong number, or no one claims the money that you sent, then it could take a whopping 15 days before the money will be resturened to you.
So if you need that money back as soon as possible, then go through the reversal steps.
How Much Does It Cost To Reverse eWallet Payment?
Unfortunately, as with most payment platforms, you will get hammered with a service fee charge, especially with canceled payments.
According to FNB eWallet service, it costs R50 to cancel a single transaction no matter how much money you sent to the receiver.
So if you sent anything less than R50 it might not even be worth canceling the transaction, otherwise, you might be charged more money than you sent.
Receiver Already Withdrew eWallet Funds, Can I Get It Back From FNB?
Unfortunately not. When using FNB eWallet service, they clearly state in their terms of services that if you send money to the wrong number, they can’t be held liable. In other words, you can’t get FNB to replace your money.
“You will not hold FNB responsible for any loss or damage suffered due to funds being sent to the incorrect cellphone number”FNB eWallet conditions.
So if you lost money using the eWallet payment service this time, make sure you learn from your mistakes and check over the cell-phone number you use at-least a few times before confirming the transactionm.
While I think eWallet is a brilliant tool you can use to send money to your friends and family quickly, I also believe you should use it with caution. Don’t be tempted to use it to buy products and online services, because once you have sent the money, it’s tough to get it back. This is precisely why scammers abuse these kinds of payment platforms.
A safer way to pay for online goods and services is to use a credit card. Credit card facilities are more equipped to deal with scammers because the money sent is traceable and can be reversed easily. If you’ve been scammed with your credit card before, you’ll know how easy it is to get your money back.
It’s because of this that I only ever use my credit card to make online purchases.
YOUR TURN: Do you know of a quicker way to revers eWallet payment? Have you been tricked into sending money to a scammer using eWallet? Let us know in the comments below so we can all start learning from each other.