Capitec cash send details: Important processes you need to know

Capitec cash send details: Important processes you need to know

Capitec has made significant milestones over the years, making it among the best service providers in South Africa. Customers can now send, receive, and collect cash via its e-wallet or bank app at lower fees. As a customer, you may need to know vital Capitec cash send details and processes.

Capitec cash send details
Photo: canva.com (modified by author)
Source: UGC

Capitec is among the largest retail banks in South Africa. It is unique when it comes to qualitative criteria like strategy, culture, and customer satisfaction. It also has high financial ratios, and it is a highly secured bank with proper management and experience.

Can I reverse Capitec cash sent to someone wrongly? How do I collect money sent from Captec ATM? Here is all you need to know regarding these processes and more.

Capitec cellphone banking app

This is a cellphone application that offers the bank's clients efficient and secure banking at any place. In addition, it provides advantages such as viewing account balances, paying beneficiaries, assisting in the transfer of money between an individual's accounts, approval of sign-in, and certain transactions through their website.

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How to register for Capitec mobile banking

This involves an individual using their cellphone to access their transactions or savings accounts, savings plans, and credit facilities.

When it comes to mobile banking, there is no monthly subscription. Instead, an individual's mobile banking pin keeps all their transactions secure.

  1. To register, visit your nearest branch with your cellphone and global one card.
  2. An SMS that allows you to download the app will be sent to you.
  3. Once downloaded, you are to install the app and then activate it.
  4. Open the app key in your remote pin and start transacting.

How to transfer money from Capitec using the banking app

Capitec cash send
Capitec money transfer through the app is straightforward. Photo: @CapitecBank
Source: Facebook

The Capitec money transfer process is easy. The process can be done over the phone. Follow these steps to send money from Capitec using its banking app:

  1. Open your app and tap 'Transact.'
  2. Tap 'Send cash' and enter your remote PIN.
  3. Proceed by tapping the button indicated as 'send cash.'
  4. Select "From" account to continue the process.
  5. Now enter the amount you wish to send.
  6. Create a 4-digit secret code and send it later to the recipient (which will be used in collecting the money).
  7. Tap the 'Next' button.
  8. Read the Terms and Conditions, tick all the given boxes, and tap the 'Accept' button.
  9. Proceed by pressing 'Yes' to confirm the transaction.
  10. You will receive an SMS with Capitec cash send reference number, which should be sent to the recipient.
  11. Finally, send the secret code to the recipient in a separate text message.

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Note: You can send up to R3, 000 per transaction using the app, and the daily limit is R5 000.

How to send money with Capitec using cellphone number

Alternatively, you can send money to your loved ones using USSD. However, this is only applicable if you are a registered member. Below is a detailed guide on how to transfer money using Capitec without an app:

  1. On your phone, dial *120*3279# and reply 9.
  2. Accept the Terms and Conditions to continue.
  3. Reply 1.
  4. Choose "From" account to continue with the transaction.
  5. Enter the amount you want to send.
  6. Create a four-digit secret code, which is sent to the recipient.
  7. Complete the process by keying in your banking pin.

Note: You can send up to R1, 000 per transaction and R24, 999 per month using this method.

How to reverse Capitec cash send

Sending money to someone wrongly is a common occurrence to many people. Often, it happens when you enter the wrong account of the recipient. So, how can you reverse the funds in such an instance? You should dial 0860 10 20 43 for quick assistance.

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Alternatively, here is how to reverse cash send on the Capitec app:

how to collect cash send from capitec atm
Call Capitec on 0860 10 20 43 for quick assistance. Photo: @CapitecBank
Source: Facebook

Open the app and tap 'Transact.'

  1. Select "Debit Orders" from the list.
  2. Key in your secret remote PIN to log in
  3. Choose a debit order from the history menu.
  4. Select a reason for the dispute/ reversal.
  5. Finally, accept the agreement and the process of reversal will automatically begin.

Capitec withdrawals

Capitec cash withdrawals are made in two different ways. First, an individual can withdraw cash from their bank account without using a card. Second, it is also possible to transfer funds to someone else even if they do not have an account with the company to withdraw funds for you from their account.

Where can I withdraw Capitec cash sent?

Are you stuck figuring out where to collect Capitec cash sent to you? You can collect the money by visiting any Capitec ATM. Alternatively, you can collect the money from one of the following stores near you; Shoprite, Pick n Pay, Checkers, Makro, Usave, Game, and Builders.

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What do you need to collect the cash? Knowing how to collect money sent from Capitec ATM is another vital step one should know. Once at any of the mentioned stores above, provide the teller with a reference number, secret code digit, name, and cellphone number to validate the transaction. If the details are correct, cash is paid out immediately.

Is Capitec e-wallet safe?

The Capitec master pass contains extra layers of security that protect individuals from fraud and theft. It also assists a person in making purchases faster and securely by storing all their information concerning payments in a secure location.

All the information regarding one's account is encrypted, meaning that an individual's actual account numbers are not stored on their phone. Therefore, when they make a purchase, the merchant cannot see the details of their credit cards. Also, the random transaction number is only valid for a given period.

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Also, the e-wallet only has access to funds that a person makes available. So when you buy something, only a specific amount, equal to the cost of that purchase, can be seen and nothing more.

Other available security measures include authentication processes and methods. These include fingerprint scans, passwords, password patterns, and Capitec e-wallet code. With the master pass, every purchase is authorized by an individual's bank card PIN.

No doubt, Capitec cash send has simplified the lives of many South Africans. It is not only safe but also affordable to many people. Instant money transfers have proven vital, especially during emergencies. One does not have to visit the bank anymore because everything can be done using a phone.

READ ALSO: How to reverse eWallet payment in 2021? (with infographics)

Briefly.co.za recently published another post on how to reverse eWallet payment in 2021. You do not have to worry about sending money to the wrong person because FNB has your back. All you need is your phone.

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Its eWallet reversal number is 087 575 9405. You should call the number immediately for assistance. Also, you can contact its support team using its email. Please read the post for more details about the process.

DISCLAIMER: This article is intended for general informational purposes only and does not address individual circumstances. It is not a substitute for professional advice or help and should not be relied on to make decisions of any kind. Any action you take upon the information presented in this article is strictly at your own risk and responsibility!

Source: Briefly News

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