In almost all cases, when a payment is returned to Velo by the bank it is due to a name, routing number, or account number mismatch.
When a payment is returned, the following actions happen behind the scenes:
- Velo receives a notice from a bank partner
- An email is triggered notifying you of the return and prompting you to edit your Payment Method
- Your Payment Method is updated to a non-payable state
- The payment status is updated to Returned
What you need to do...
An email is triggered notifying you of the return that is processing and prompts you to make the necessary updates. You will need to log in to the Payee Portal and update your Payment Method.
Once the Payment Method is updated, contact the company you work for to request the payment is re-submitted. Velo cannot send a payment to you without instruction from the company you work for.
If you have any questions, please contact Velo Support.