Reversal Process

If you have submitted an EFT payment incorrectly and the transaction has already been debited from your account and processed into the recipient's account, follow the Payment Reversal process below to have the transaction reversed.

 

Note: Payments equal to or greater than R5 million are processed via SWIFT and can therefore not be reversed via this Payment Reversal process; please send an email to s&spayments@fnb.co.za or to s&smessaging@fnb.co.za

 

 

 

Important Information about Reversals:

 

  • Reversals can only be attempted within 30 days from the transaction date; it is critical to initiate the reversal process speedily as this will improve the chances of a successful reversal.

  • Reversals cannot be executed without the implicit authorisation of the recipient who was paid incorrectly.

  • Reversals are not guaranteed and are performed on a best effort basis.

 

    • Reasons for unsuccessful reversals include:

 

      • No Authority to Debit

      • Insufficient Funds

      • Invalid Account

      • Time Line Exceeded

 

  • There is a fee associated with reversal requests which is charged irrespective of the result of the reversal; the fee is indicated on the Reversal Request Form.

  • Reversals are not possible if you selected the Pay & Clear Now service type when processing the payment.

  • Reversals cannot be performed for Scheduled Payments.

  • Reversals cannot be performed for payments made to the following companies or account types:

 

    • South African Revenue Services (PAYE, VAT, UIF etc.)

    • Public recipients e.g. Edgars, SARS, Telkom, etc.

    • Investment Accounts (e.g. 32 Day Notice Accounts)

    • Vehicle Finance Accounts

    • Loan Accounts

    • Credit Cards

    • eBucks

    • Suspense Accounts

    • Municipal Accounts

    • Estate Late Accounts

    • Recovery Accounts

 

 

  

Reversals from an FNB Account:

 

  • FNB needs to obtain authority from the account holder before the reversal can be processed.

  • If authority has been obtained, and funds are available in the recipients account, the funds will be returned electronically into your nominated account and an email will be sent to you to confirm the success of the reversal request.

  • If authority is not obtained, we are not permitted to process the reversal; an email will be sent to you advising you of the unsuccessful result.

  • This process should be completed within 5 working days after receiving the initial instruction.

 

 

 

Reversals from a non-FNB Account:

 

  • FNB may not contact another bank's account holders directly to obtain authority for a reversal, a request is sent to the other bank requesting that they obtain authorisation from their account holder in order to reverse the funds.

  • If authority has been obtained, and funds are available in the recipients account, the funds will be returned electronically into your nominated account and an email will be sent to you to confirm the success of the reversal request.

  • If authority is not obtained, we are not permitted to process the reversal; an email will be sent to you advising you of the unsuccessful result and will contain the names and contact details of the relevant staff at the recipient's bank.

  • This process should be completed within 5 working days after receiving the initial instruction, however some banks take longer to process reversal requests.

 

 

 

Payment Reversal Process and Documentation:

 

  1. Please click on the hyperlink below to download the Reversal Documents:

 

Reversal Documents

 

  1. Complete the required information in full.

 

Notes:

 

  • If you are requesting a reversal for a payment made from a Business Account, please ensure that the Waiver and Indemnity Form is signed in terms of the Company Mandate.

  • Attach a copy of the Company Mandate / Resolution to your request.

 

  1. The completed forms must be e-mailed to our Client Support Management - Recalls and Reversals Department at fnbdigitalrecalls@fnb.co.za

  2. An automated Service Request Reference number will be e-mailed to you; please quote this reference number in the event of a query.

  3. An update on the outcome of the reversal request will be sent to you within 5 working days from the time we receive your request.

 

 

For requests and queries regarding the reversal of online payment transactions please contact the Client Support Management - Recalls and Reversals Department:

 

087 730 2000

fnbdigitalrecalls@fnb.co.za

 

 

 

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