FNB has made eWallet reversal easier and quicker.
Anyone can make the mistake of sending ewallet payments to the wrong recipient or cellphone number. And FNB has a process in place to help you quickly reverse the sent amount back into your account.
So today, I want to share with you the best option to use to reverse ewallet faster and it’s the FNB app.
Let’s get started.
Reversal via Cellphone Banking
FNB eWallet reversals can be done with USSD or cellphone banking service. Follow these simple steps to perform a reversal more quicker:
- Dial *120*321# to access the FNB cellphone banking service.
- Select option 4 (Send Money)
- Select option 3 (eWallet reversal)
- The next screen will list ewallet transactions made
- Lastly, select the transaction that you need to reverse and follow the prompt to agree with the terms and conditions.
And the second option is by calling the FNB ewallet reversal contact number 087 575 9405 to initialize your payment reversal. While we know how frustrating it can be to reach any big company by call centre, if you don’t have a cellphone banking setup, then this method could be your best hope of getting the money back.
How to Reverse Wallet on FNB App?
Unfortunately, you cannot reverse your ewallet payments using the convenient mobile app at this stage. FNB only allows clients to reverse transactions using cellphone banking option or contact centre.
We also hoped they’ll have this option on the internet and mobile app banking services, but it’s not yet implemented.
How Much Will it Cost to Reverse Wallet?
The cost of reversing ewallet payments depends on the amount initially sent. While some clients were charged R50 to attempt and complete the reversal process, during our tests, we were charged R16 for a R100 ewallet payment.
While at the same time, the bank doesn’t promise you’ll get the money back as the matter will be investigated first.
When to Expect Your Money Back
So you want to know how long it’ll take to get your money back, after initiating the ewallet reversal process?
In our step-by-step testing, the money was reversed immediately. However other clients had different experiences.
It’ll take 15 business working days to complete your FNB ewallet reversal. While the bank is perfecting this process, some clients had their money back within just 4 days.
And most importantly, FNB cannot guarantee getting your money. For example, if you request the reversal a little too late when the receiver had already withdrawn the funds.
It gets even worse…
FNB has now included ewallet funds on their mobile app for clients to quickly use the funds without going to ATMs to withdraw the money. So it’s easier for anyone banking with FNB to move ewallet payments into other accounts, which essentially makes it harder for most people to get their money sent to the wrong cellphone numbers back.
That’s the reality.
How to Avoid eWallet Reversals
To avoid sending ewallet payments to the wrong cellphone numbers, we want to advise you to use the mobile banking app to send the money.
The app offers the advantage of selecting recipients from your phone contact list instead of manually punching in the number. You’ll be certain it’s the correct cellphone number because you’re in constant contact with the recipient.
The best part?
The app will give you multiple screens asking you to confirm the recipient’s cellphone number. So please use the app to send FNB ewallet payments, it’s much safer than cellphone or USSD banking.