Can I reverse a PayShap payment?

No. Once you authorise a PayShap Instant Payment it is final and cannot be reversed, cancelled or recalled. That is true at every bank, because the money settles in the recipient's account within seconds.

Why there is no undo. A PayShap payment is processed on its own and in real time, so there is no pending stage where it sits waiting. By the time you notice a mistake the money has already arrived. This is also what makes PayShap so useful, and it is why the confirmation screen matters so much.

Your one chance to stop it. Before you authorise, we show you the recipient's registered name when you are paying to a cellphone number. Read it more than once. If the name is not who you expect, do not continue. Check the transaction first if you are unsure whether a payment went through, because if the money has not left your account, it has not been sent.

If it was not an honest mistake. If you believe you have been scammed, report it to us through in-app chat or on 0860 999 119.

The habit worth building is a two-second one. Double check the name on screen before every payment.

Learn more about PayShap Instant Payments with GoTyme Bank.