Quick Facts

• Debit orders under R1,000 can be reversed through the Banking App in minutes
• Money returns to your account within 2 business days for debit order reversals
• EFT payment recalls can take up to 10 working days to process
• Not all payment reversals are guaranteed – recipient must agree

What is a Payment Reversal?

A payment reversal is when money that left your bank account gets returned to you. This happens when something went wrong with a payment. Maybe you paid the wrong person by mistake. Or someone took money from your account without permission. Or a debit order was more than it should be.

Standard Bank offers ways to reverse certain types of payments. But it is important to know that not all reversals are guaranteed. The bank will try to help you get your money back, but success depends on several factors.

Bottom line: Act quickly when you spot a problem. The faster you report it, the better your chances of getting your money back.

Types of Payment Reversals at Standard Bank

Standard Bank handles two main types of payment reversals. Each type has different rules and timeframes:

1. Debit Order Reversals

These are for when money was taken from your account through a debit order. This could be for insurance, gym membership, loans, or any service that takes automatic payments.

• Can be done through the Banking App
• Works for debit orders under R1,000
• Must be done within 40 days of the payment
• Money back in 2 business days

2. EFT Payment Recalls

These are for when you made an electronic payment to someone but need to get it back. This could be because you typed the wrong account number or sent too much money.

• Requires completing a special form
• Must be done within 40 days
• Takes up to 10 working days
• Not guaranteed – recipient must agree

✅ How to Reverse a Debit Order

If a debit order went off your account that should not have, you can reverse it quickly using the Standard Bank Banking App. This only works for debit orders under R1,000 that happened in the last 40 days.

Step-by-Step Process:

Reasons You Can Choose:

• No authority to debit: You never agreed to this debit order
• Debit in contravention to mandate: The debit order does not match what you agreed to
• Contract has been cancelled: You cancelled the service but they still took money
• Debit order has been stopped: You already stopped this debit order

What If Your Debit Order is Over R1,000?

You cannot reverse debit orders over R1,000 through the app. Instead, you must call Standard Bank on 0860 123 000 or visit your nearest branch. They will help you with the reversal process.

⚠️ How to Reverse an EFT Payment (Payment Recall)

If you made an electronic payment to the wrong account or sent the wrong amount, you need to request an EFT payment recall. This is more complicated than reversing a debit order and takes longer.

Step-by-Step Process:

What You Need to Include:

• Your full name and ID number
• Your account number
• Your contact number and email address
• Date of the incorrect payment
• Amount that was paid
• Account number the money went to
• Reference or transaction number
• Clear reason for the recall

Common Reasons for EFT Recalls:

• You typed the wrong account number
• You sent too much money (added extra zeros)
• You paid the same bill twice by accident
• Someone stole your banking details and made payments
• You were scammed and paid a fraudster

🚨 Real-Time Payments Cannot Be Reversed

If you made a payment using Standard Bank’s Real-Time Payment service (also called Instant EFT), you CANNOT reverse it. These payments are final and cannot be recalled.

However, Standard Bank may help you contact the person who received the money. You will need to complete the Payment Reversal Form. The bank will share the recipient’s contact details with you (if the recipient agrees) so you can ask them directly to return your money.

This is why it is so important to check account numbers carefully before making Real-Time Payments!

Processing Times: How Long Does It Take?

Different types of reversals take different amounts of time. Here is what to expect:

What Happens During the Processing Period?

For debit order reversals, the bank processes your request automatically. You do not need to do anything else.

For EFT payment recalls, the bank contacts the person who received your money. That person must agree to return the funds. If they agree, the bank reverses the payment. If they refuse or do not respond, the bank will inform you that the recall was unsuccessful.

Fees and Costs

Standard Bank may charge fees for processing payment reversals. The fees depend on the type of reversal and your account type.

Typical Reversal Fees (as of 2025):

The exact fee depends on your account type:

• MyMo accounts: Pay lower fees (around R10 per reversal)
• Access accounts: Pay medium fees (around R25 per reversal)
• Prestige and higher accounts: May get 3 free reversals, then R130 from the 4th one

Why Payment Reversals Fail

Not all payment reversals succeed. Here are the main reasons why your reversal might fail:

Common Failure Reasons:

• Recipient refuses to return the money: They must agree to the reversal
• Money already spent: There is no money left in the recipient’s account
• Account closed: The recipient closed their bank account
• Too much time passed: You waited longer than 40 days
• Incomplete information: Your reversal form was missing important details
• Recipient does not respond: They ignore the bank’s requests

🚨 Scams Targeting Payment Reversals

Scammers know that people who need to reverse payments are stressed and desperate. They take advantage of this. Be very careful of these common scams:

1. Fake “Reversal Help” Phone Calls

Someone calls claiming they are from Standard Bank’s fraud department. They say they can help you reverse a payment immediately. They ask you to:

• Share your OTP (One-Time PIN)
• Send an Instant Money to yourself “for authentication”
• Transfer money to a “secure account”
• Download software on your phone or computer

This is a SCAM! Standard Bank will NEVER ask you to share your OTP, send Instant Money to yourself, or download software over the phone.

2. Fake “Reversal Forms” via Email

You receive an email that looks like it is from Standard Bank. It has a link to a “reversal form” or asks you to reply with your banking details.

This is a SCAM! Always download forms directly from the official Standard Bank website. Never click links in emails about payment reversals.

3. “Pay a Fee to Get Your Money Back” Scam

Someone contacts you saying they can guarantee your payment reversal if you pay them a fee upfront.

This is a SCAM! Standard Bank’s reversal fees are deducted from your account automatically. You never pay someone directly.

If you receive any suspicious calls or emails, hang up immediately and call Standard Bank directly on 0860 123 000.

Your Consumer Rights

As a Standard Bank customer, you have important rights under South African law. These laws protect you when dealing with payment problems.

Under the National Credit Act (NCA):

• You have the right to dispute unauthorised debit orders
• Companies must follow your mandate (agreement) for debit orders
• You can cancel debit orders at any time
• Banks must help you reverse fraudulent transactions

Under the Protection of Personal Information Act (POPI):

• Your banking information must be kept secure
• Standard Bank must protect your personal details
• You can report data breaches that lead to fraud

Under the Consumer Protection Act:

• You have the right to fair treatment
• Banks must provide clear information about fees
• You can complain if you receive poor service

Where to Get Help:

✅ Practical Tips to Avoid Needing Reversals

Prevention is better than cure. Follow these tips to reduce the chance of making payment mistakes:

Before Making Payments:

• Double-check account numbers before pressing “pay”
• Use the “Pay Beneficiary” option for regular payments (safer than typing account numbers each time)
• Call the person to confirm their banking details
• Check the recipient’s name that appears after entering their account number
• Start with a small test payment if it is a new beneficiary

Managing Debit Orders:

• Keep track of all your debit orders (write them down or keep a list)
• Check your bank statement regularly for unauthorised debit orders
• Cancel debit orders properly when you stop using a service
• Keep proof of cancellation (emails, reference numbers)
• Set up banking alerts so you know when money leaves your account

Protecting Yourself from Fraud:

• Never share your PIN, password, or OTP with anyone
• Do not click links in banking emails or SMS messages
• Be suspicious of urgent phone calls about your account
• Always type the Standard Bank website address yourself – do not click links
• Sign up for SMS or email alerts for all transactions

Quick Reference: What to Do If You Need a Reversal

If an Unauthorised Debit Order Went Off:

1. Open the Standard Bank Banking App immediately
2. Go to “Manage” then “Debit Orders” then “Reverse a debit order”
3. Select the debit order and follow the steps
4. Your money will be back in 2 business days

If You Paid the Wrong Person:

1. Act immediately – time is critical
2. Call Standard Bank on 0860 123 000 to report it
3. Download and complete the Payment Recall Form
4. Email it to SBSA.ask@standardbank.co.za
5. Wait up to 10 working days for feedback
6. If unsuccessful, consider reporting to the police if it was fraud

If You Think You Were Scammed:

1. Call Standard Bank immediately on 0860 123 000
2. Request an EFT payment recall
3. Report the scam to the police (get a case number)
4. Report to SABRIC (South African Banking Risk Information Centre)
5. Change all your banking passwords and PINs
6. Check your credit report for unauthorised accounts

Standard Bank offers good tools for reversing payments, but success is not guaranteed. For debit orders under R1,000, the Banking App makes it quick and easy. For EFT payments, you must complete a form and the process takes longer.

The most important thing is to act immediately. The faster you report a problem, the better your chances of getting your money back. Do not wait even one day.

Prevention is your best protection. Always double-check account numbers before making payments. Never share your OTP or PIN with anyone. Be suspicious of urgent calls about your account.

Know your rights. South African law protects consumers from unauthorised debit orders and fraud. If Standard Bank does not help you properly, you can complain to the Banking Ombudsman.

Keep good records. Save all emails, reference numbers, and documents related to your reversal request. This will help if you need to escalate your complaint.