In the digital age, mobile banking has become an integral part of our lives. Standard Bank’s Instant Money service allows for convenient money transfers, but what happens when you make a mistake or change your mind about the transaction? This article will guide you through the process of reversing a Standard Bank App Instant Money transaction. Check our previously published article on Standard Bank Branch Code.
Standard Bank Instant Money Reversal Steps
Here are the steps you should follow to cancel the transaction. Please be aware that there is a non-refundable service fee of R9.99:
- Log into your Internet Banking Account with the Standard Bank App (Andriod, IOS)
- After login tap on ‘Payments‘
- Move it to and tap on ”Instant Money“
- Select ‘Cancel Instant Money transaction‘ and click Next
- Select the transaction you intend to cancel by clicking on the radio button on the left of the transaction(s) and click Next
- Enter the OTP you receive on your phone/email and click Next
- Enter the Cash Collection PIN you used for the transaction and click Next
- Review everything and click ‘Confirm’ to complete the cancellation – you will get a cancellation successful notice on the page that follows.
- And check the standard bank account balance.
Note: You can get help by reaching out to the support team. Please contact Standard Bank customer service at 0800 020 600. Once you have contacted them, they will be able to tell you what you need to do to reverse your transaction.
Frequently Asked Questions
The answer is yes, it’s possible to reverse an Instant Money transaction.
The reversal window is typically limited to a short period, often 24 hours. Be sure to check the specific terms and conditions with your bank.
Standard Bank may charge a small fee of R9.99 for reversing transactions. Check the fee structure in your bank’s terms and conditions.
Editorial Note: The information presented in this article is not provided by the Standard Bank. The article has been created for educational purposes and is intended to be helpful for customers of the Bank. It should be emphasized that the content is not endorsed or validated by the Bank, and readers should refer to the official website for accurate and up-to-date information about the bank’s products and services.
Author
Hello friends, my name is RK Singh, and I am an engineer. But by profession, I am a blogger. My main goal in starting this blog is to solve the difficulties people face in using online banking, bank branch codes, debit cards, and credit cards. I am not affiliated with any bank or company. I try my best to give the correct information to the people so that they can achieve their goals in the right way.
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