How To Reverse A Debit Order Standard Bank
Are you a Standard Bank customer and have you noticed an incorrect or unauthorised debit order on your account? Don't fret! You can easily reverse the debit order and get your money back. In this article, we will guide you on how to reverse a debit order in Standard Bank.
Step-by-Step Guide to Reverse a Debit Order in Standard Bank
Step 1: Report the Incorrect Debit Order
The first step is to report the unauthorized or incorrect debit order to Standard Bank as soon as possible. You can do this by visiting any Standard Bank branch or by contacting the Standard Bank customer careline.
Step 2: Gather Information
Before you approach the bank to reverse the debit order, make sure you have all the necessary information such as:
- The date the debit order went through
- The amount of the debit order
- The name and contact details of the company that initiated the debit order
Step 3: Initiate the Debit Order Reversal Process
Once you have reported the issue to the bank and gathered all the information, the next step is to initiate the debit order reversal process. You can do this by:
- Submitting a written request to Standard Bank, stating that you did not authorize the debit order.
- Contacting your bank to reverse the debit order through the Standard Bank disputes process.
Step 4: Follow Up
It is important to follow up with the bank to ensure that your debit order reversal has been processed. You will receive notification from Standard Bank once the debit order has been reversed.
Some Important Points to Remember
When attempting to reverse a debit order, it is important to keep in mind the following:
- You must report the issue to the bank within 45 days of the debit order going through.
- If you authorized a debit order, but the amount debited was incorrect, you should still report the issue to your bank within 40 days of the debit order going through.
- If the debit order was authorized, you may still have grounds to dispute it if the company did not comply with the terms of the debit order authorization agreement.
Reversing a debit order in Standard Bank is a straightforward process. By following the steps outlined above and providing the bank with all the necessary information, you can quickly reverse any unauthorized or incorrect debit orders.