How To Reverse An Equity Transaction Sent To A Wrong Number

Many people are always cautious with money transfers. They double-check and triple-check every detail before hitting the send button. However, mistakes are inevitable, and with only one wrong digit here and there, your hard-earned cash can be directed to the incorrect account. Learning how to reverse an equity transaction will be useful in such times.

Equity Bank has made it easy for its customer to make bank deposits or buy goods and services using their mobile phone. Even with the convenience, making payments to the wrong account is possible.

How to reverse an Equity transaction

At some point, you may have sent money from your Equity Bank account to the wrong number. While such a mistake is common, it is important to know how to reverse it to avoid losing your money. Here is a guide on how to initiate the reversal process.

Equity to Mpesa reversal

Can you reverse a transaction on Equity? Yes. If you sent money from your Equity account to the wrong Mpesa number, contact Equity Bank customer care immediately. You can reach them through either of the following methods:

• Phone number - 0763026000, 0763063000, or 100
• Equity Bank Facebook Message
• Twitter DM

After contacting them, you will be required to provide several details, including:

• Your account number
• ID number
• Amount transacted
• The phone number that the money was mistakenly sent to

A reversal will be made after Equity Customer Care has confirmed that the money you sent to the wrong recipient has not been withdrawn. It will take between 24 and 48 hours for the money to reflect in your Equity Bank account.

It is important to find out if the wrong recipient has withdrawn the money or not. If the user has already withdrawn the money, Equity Bank may not help you recover it.

Reverse an M-pesa paybill transaction

Lipa na M-Pesa has become one of the most convenient payment methods. However, you can make an erroneous payment by sending money to the wrong Paybill number.

If such happens, you need to initiate the reversal process to get back the money sent to the wrong account number. You can conveniently do this using the M-Pesa app, SMS, or Whatsapp chat with Zuri as follows:

How to reverse transactions using the M-Pesa app

If you want to initiate a Paybill reversal using the App, the transaction must have been done by the customer himself and using the App. Here is a detailed step-by-step guide on how to request an M-PESA reversal on the mySafaricom App:

• When you complete the transaction and realize it’s the wrong Paybill, tap on the Reverse transaction icon
• A prompt will ask you to confirm if you want to raise a reversal request
• If you click yes, you will be notified that “the reversal request has been received for processing, and feedback will be received within 2 minutes.”
• Then, you will receive a message from “Reversal” updating you that the reversal request has been started.
• Follow-up with the recipient will be done
• Feedback will be shared within 2 hours

How to reverse transactions using an SMS

After paying the wrong Paybill, you can request a reversal via SMS. Here are a few steps to follow:

• When you complete the transaction, immediately send the whole message to 456.
• This will be followed by a response from 'Reversal' stating, ‘request for a reversal has been started, and an update will be shared within 2 hours.’
• Once the reversal is successful, you will receive an update from the header 'Reversal' on the reversal status.

How to reverse transactions through Whatsapp chat

Can you reverse an equity transaction online? You can reverse an equity Paybill transaction online by following the steps below:

• Login to your Whatsapp to initiate a conversation with Zuri via the number 0722000100 (you can type 'Hello')
• Zuri will respond with Safaricon’s privacy policy.
• Zuri will offer you several options to choose from (including Manage subscriptions, M-Pesa Help and Reversal, Loans and savings, and Tunukiwa)
• Respond with option 2 – M-Pesa Help and Reversal
• Then respond with option 1 – Reverse
• Type the M-Pesa transaction code
• Alternatively, copy-paste the entire M-Pesa message
• Confirm your phone number
• Confirm your M-Pesa details by entering your M-Pesa PIN for authentication.
• You will get a WhatsApp notification that the reversal request has been received, and an update will be shared shortly.
• The recipient will be contacted for consent before completing the reversal

Frequently asked questions

1. How do you reverse an Equity Bank transaction? You can ask the merchant to reverse the transaction on your behalf or contact customer care at 0763 000 100.
2. How do you reverse money from Mpesa? You can reverse the money using the M-Pesa app, SMS, or Whatsapp chat with Zuri.
3. How long will it take to complete the reversal process and get the money back in your account? It will take a maximum of 72 hours to complete the reversal process once the bank has done the verification of the request.
4. Can you call Safaricom customer care to reverse an Equity Bank transaction? It is not advisable to call Safaricom customer care because they will still refer you to Equity Bank.
5. Can money be reversed from an Equity bank account? The bank can reverse a payment if the account number you credited does not exist.
6. What happens when money sent to the wrong number has been withdrawn? Once the recipient withdraws the money, the bank cannot do anything about it.
7. What happens when M-Pesa reversal fails? If you fail to reverse an M-PESA payment that was made erroneously, you risk a two-year jail term, Kshs. 200,000 fine or both.

Wrapping up

Now you know how to reverse an Equity transaction sent to the wrong number. However, it is important to confirm whether or not the money has been withdrawn. If it has been withdrawn, Equity Bank cannot assist you.

Tuko.co.ke shared an article about how to send money from M-Pesa to Equity Bank. Equity and Safaricom have partnered to help Kenyans easily send money from M-Pesa to Equity. By using mobile banking, users can safely deposit cash through pay bill numbers.

Mobile money technology helps people send and receive money through their mobile wallets. This has significantly reduced queuing in the banks or ATMs to transfer, deposit, or withdraw money.