![]() ![]() Carrying cash is being reduced to a very great extent since the mobile phone is sufficient to perform all those functions. With the ever growing popularity of e-wallets in today’s times, almost every shop from smallest to the biggest is accepting money through these methods of online payments making it faster and more reliable. #EWALLET PROFESSIONAL PASSWORD#Such a payment method is advantageous because it is password protected and can only be accessed by the owner of the card. ![]() There is no particular definition of e-wallet per se but it can be ascertained that it is the money which moves electronically and can be stored by the consumer in the form of a smart card such as debit cards or credit cards. Another part of it pertains to legal issues involved along with regulatory statutes followed by international cooperation.Į-wallet is the process of transferring money through medium of electronic communication and doing away with the conventional methods of payment services. This article identifies the definition of e-wallet along with its key features. It can be argued that just like earlier our parents used to give us pocket money on a monthly basis, a new and modernized concept of payment system has arisen over the internet by revolutionizing the movement of money both nationally as well as internationally. Industrial revolution has emerged by easing with the monetary exchange systems and payment systems rapidly. This change on a global level has led to smooth and easy flow of world trade and commerce. Such platforms have prevented the overcrowding and overburdening of the banks at large giving rise to digitalization and automatic money transfers through just few clicks on the World Wide Web. The next generation of money transfers focused less through deposit accounts and more through electronic platforms. With the evolution of time, coins came into existence and later on came the paper notes which consequently gave rise to banks. The first of such type started with the barter system wherein a good or commodity was brought in exchange of another good or commodity. Visit for information about the eWallet reversal.Money has been considered to be the most crucial aspect of one’s life since the times of early civilizations not only economically but also in non-economical ways. Request a new pin by dialing *120*277#.What happens when the eWallet pin expires? There's no service/option to reverse the payment online or via the mobile app.Unfortunately, the only option to use is USSD service.eWallet Reversal FAQsĬan you reverse eWallet payment using the app or online banking? It's your responsibility to check the number before transferring because the bank will charge you to reverse the eWallet payment you've sent to the wrong number. You won't need to type in the phone number but select from existing which you know works and belongs to the right recipient.Īlways take caution and double-check the cellphone number before clicking that send button, even when using the app too. Please use the FNB app to make eWallet transfers because you'll get access to a list of contacts in your phone. And if the pin has expired, the recipient can dial *120*277# to request a new withdrawal pin. The eWallet pin expires in 16 hours from the time of the transaction. Money can be withdrawn immediately at the FNB ATM.The recipient (cellphone number) receives and an SMS with payment withdrawal details.The money is transferred securely and instantly - no waiting for payment clearance.The FNB account holder send money using the eWallet service to a cellphone number.Basically, whoever you send the money to, doesn't need a bank account to withdraw the cash, but just a working cellphone number. ![]() How The FNB eWallet WorksĮWallet is the most popular way of transferring money by using mobile banking. In the process, the recipient's and your eWallet services will be suspended for the time being, until the reversal is done.Ī lot of clients have complained about the current reversal process and hopefully, it'll be enhanced soon. Unfortunately, this isn't completed same time, it'll take between 4 to 15 business working days for the reversal to be completed.Īnd lastly, there's no guarantee that you'll get the money back. State your reasons for reversing the ewallet paymentįNB will begin to investigate and process your eWallet payment reversal. Step 4: From the list of payments, select a transaction you want to reverse. Step 3: Select option 3 for "eWallet reversal", then next. Step 2: Select option 4 for "Send Money", then next. Step 1: Dial *120*321# to access the FNB mobile banking service. ![]() Here's a step-by-step guide to reversing your e-wallet transfer faster, before the recipient gets a chance to withdraw the your money. The fastest and most convenient way is to use the FNB ewallet number on your cellphone via the USSD banking service. ![]()
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