Resolving Payment Failures

Created by Joshua Ort, Modified on Tue, 11 Jun at 8:20 AM by Joshua Ort

TLDR: If your payment has failed, it might be due to incorrect bank details, account type issues, insufficient funds, or account restrictions. Double-check your routing and account numbers, ensure your account can receive ACH payments, and confirm your account type. Action is required to resolve the issue. For detailed steps, read the full article below.

If your recent payment has failed, it may be due to incorrect bank information or account type issues. Here are some common reasons for payment failures and steps to resolve them:

Incorrect Routing or Account Number:

Double-check the routing number and account number you provided. Ensure there are no typographical errors and that the numbers match exactly what is on your bank documents.

Account Not Able to Receive ACH Payments:

Verify with your bank that your account is eligible to receive ACH (Automated Clearing House) payments. Some types of accounts, such as certain investment or loan accounts, cannot receive these transactions.

Incorrect Account Type (checking/savings):

Ensure you have selected the correct account type. Some payment systems require that you specify whether your account is a checking or savings account, and using the wrong type can result in a failure.

Account Closed or Frozen:

Verify that your bank account is open and not frozen. If the account has been closed or frozen by the bank, ACH transactions will not be processed.

Authorization Issues:

Make sure that your bank account has the proper authorization to accept ACH transactions. Some accounts may have restrictions or require additional authorization for ACH payments.

How to Resolve the Issue:

Update Your Bank Details:

  • Log into your Ref Insight account on our site.
  • Navigate to the Ref Insight Pay section.
  • Review and update your routing number and account number, ensuring they are accurate and correspond to a valid bank account that is able to receive payments.
  • Click Here to update your bank information (login required):

Confirm Account Eligibility:

Contact your bank to confirm that your account can receive ACH payments and that you are using the correct account type (checking vs. savings).

Check Account Status:

Ensure your account has sufficient funds and is neither closed nor frozen.

Verify Authorization:

Confirm with your bank that your account is authorized to accept ACH payments and that there are no restrictions.

Notify Us After Updating:

Once you have made the necessary corrections, please inform us so we can reprocess your payment.

Additional Tips:

  • Check with Your Bank: If you are unsure about the details or eligibility of your account, it’s a good idea to speak directly with your bank’s customer service.
  • Documentation: Have your bank documents handy when entering or updating your bank details to avoid any errors.

We apologize for any inconvenience this may have caused and appreciate your prompt attention to this matter. If you have any questions or need further assistance, please do not hesitate to contact our support team.

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