This article will guide you through understanding a Returned Payment Fee showing on a member's account.
1. What is a Returned Payment Fee?
A returned payment fee is a charge incurred when a consumer bounces a payment.
Top Reasons:
- Insufficient Funds
Payments may be returned for insufficient funds in a consumer's account or because of closed accounts. If you see these fees on a member's account it means their ACH was returned unpaid or they are charging a payment back. A bounced payment occurs when there isn't enough money in their current account to fund a payment, so the bank refuses to make the payment. Banks usually charge for each bounced payment.
- Chargebacks
If a member (or, more specifically, the cardholder) disagrees with a charge made to their credit card, they have the right to file a dispute, or chargeback, with the bank.
2. How can I cancel / waive a Returned Payment Fee?
This is something that is only controlled by ClubReady. The fee needs to be requested to be deleted by an Owner/Club Master Admin. Once the owner approves the cancellation then ClubReady can waive the fee.
Requirements - A 'Master Admin' login or a staff login with the following permissions.
- Customer Management : Payments Related - Can view client billing information