When a payment is returned to Velo by the bank, generally it is due to a name, routing number, or account number mismatch.
When a payment is returned, the following things happen behind the scenes:
- Velo receives a notice from our bank partner
- An email is triggered notifying you of the return and prompts you to edit your Payment Method
- Your Payment Method is put into a non-payable state
- Funds are returned to your Payor
- Payment status is updated to Returned
What you need to do...
Once the Payment Method has been updated, you should contact your Payor to request the payment is re-submitted. Velo cannot send a payment without instruction from Payors.
If you have any questions, please contact Velo Support.