It can be quite stressful when you send money using Standard Bank Instant Money and then realise you need to get it back. The good news is, yes, it's possible to reverse a Standard Bank Instant Money transfer, but there's a key condition: the money must not have been collected by the person you sent it to. If they haven't picked up the cash yet, you have a chance to get your money back.

Standard Bank offers a few easy ways to reverse an Instant Money transfer, depending on how you sent it in the first place. This guide will walk you through the steps.

Reversing Your Instant Money Transfer

You can reverse your Instant Money transfer using Standard Bank's online platforms or by contacting their support team. Here’s how you can do it:

Using Internet Banking

If you sent the money through your computer, this is the way to go:

1. Log in: Go to the Standard Bank internet banking website and sign in to your profile.

2. Navigate to Payments: Look for the 'Payments' section.

3. Select Instant Money: Click on 'Instant Money'.

4. Choose Cancellation: Select 'Cancel Instant Money transaction' or 'Manage vouchers'.

5. Pick the Transaction: You'll see a list of your Instant Money vouchers. Choose the one you want to reverse.

6. Confirm with OTP: An SMS with a One Time Password (OTP) will be sent to your phone. Enter this OTP.

7. Enter PIN: Type in the 4-digit Cash Collection PIN you created when you sent the money.

8. Confirm: Follow the prompts to confirm the cancellation.

Using the Standard Bank Banking App

The banking app makes it super convenient to manage your money on the go:

1. Sign in: Open your Standard Bank app and sign in.

2. Go to Transact/Pay: Select 'Transact' or 'Pay'.

3. Choose Instant Money: Tap on 'Instant Money'.

4. Manage Vouchers: Select 'Manage vouchers' and you'll see your active vouchers.

5. Delete Voucher: Find the voucher you want to cancel and tap 'Delete voucher'.

6. Enter PIN: Enter the 4-digit Cash Collection PIN.

7. Confirm: Confirm the cancellation.

Using Cellphone Banking (\*120\*2345#)

For those who prefer USSD banking:

1. Dial the Code: Dial \*120\*2345# on your phone.

2. Enter PIN: Put in your 5-digit Cellphone Banking PIN.

3. Payments and Transfers: Choose 'Payments and transfers'.

4. Instant Money: Select 'Instant Money'.

5. Cancel Voucher: Choose 'Cancel a voucher'.

6. Select Voucher: A list of vouchers will appear; pick the one you want to cancel.

7. Enter PIN and Confirm: Enter the 4-digit Cash Collection PIN and confirm the reversal.

I remember one time I was in such a rush to send my cousin some money for an emergency. I quickly did an Instant Money transfer but only realised later that I had entered one digit wrong in his phone number! Luckily, he hadn't received any notification, and the money wasn't collected. I quickly hopped onto the banking app, found the transaction, and reversed it following these steps. It was such a relief to see the money back in my account, and I could then send it to the correct number.

What if You Forget Your PIN or the Steps Fail?

It happens to the best of us - sometimes you forget the Cash Collection PIN. If you can't remember your PIN or the online reversal steps don't work for some reason, don't worry. You can reset the PIN through the same channel you used to send the money. Or, you can contact the Standard Bank Instant Money call centre. Their number is 0860 466 639. They can guide you through the process or help you reset your PIN. Just remember, the fee you paid to send the Instant Money is usually non-refundable, even if you cancel the transaction.

Knowing how to manage your Instant Money transfers, including how to reverse them, puts you in control. It's important to act quickly if you realise you've made a mistake and the money hasn't been collected yet.

While Standard Bank helps you manage your money transfers, you can also earn free airtime by using the Points Castle App.