Once a batch has been released and accepted by the bank for processing, one cannot cancel or reverse the Payout.
A Payout Recall is requested in these cases for reasons such as;
- Payout to an unknown recipient
- Payout amount is incorrect or not intended for that recipient
- Payout batch sent in error etc.
This costs R 680 per recall and calls for strict requirements such as;
- Authorisation from the recipient to collect funds.
- The bank has to then successfully contact the recipient to get further confirmation.
- The full amount of the money must be in the recipients' account - a failed collection will still be charged.
To Request a Recall, or for any further questions, please reach out to email@example.com