Payment Reversed 13 days later

[David Fotheringham]

Hi All,

I received notice today that an online payment had been reversed. My tenant was new and paying online for the first time and I believe they made an error entering the account or routing number. The code attached to the reversal was "REVERSED - (R03) Account is closed or doesn't match name submitted.: Payment by Jane Doe" so I know it wasn't for insufficient funds. They made the payment on 05/01/2019 and I was notified today, 13 days later that it was reversed. Luckily I had not sent funds off to the owner yet or my trust account would be negative. In your experiences, is 13 days normal?

[Mary Hurd]

Not normal. And there is a thread going in the Facebook group about similar delayed reversals this month. 

I normally get at least one reversal a month and thought it strange I didn’t get any this month. This could be why. 

Are you on the Buildium Users Unite Facebook group?

On Mon, May 13, 2019 at 4:24 PM David Fotheringham <dwf...@gmail.com> wrote:

Hi All,

I received notice today that an online payment had been reversed. My tenant was new and paying online for the first time and I believe they made an error entering the account or routing number. The code attached to the reversal was "REVERSED - (R03) Account is closed or doesn't match name submitted.: Payment by Jane Doe" so I know it wasn't for insufficient funds. They made the payment on 05/01/2019 and I was notified today, 13 days later that it was reversed. Luckily I had not sent funds off to the owner yet or my trust account would be negative. In your experiences, is 13 days normal?

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Mary Hurd

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Rent Smart Property Management 

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[Eric Boyd]

Wow.  13 days is UNACCEPTABLE, especially for an incorrect account number. I don't know what Buildium is doing about this, but they'd better get control of this real fast. 

Eric Boyd
FL Lic Real Estate Broker
Step One Realty LLC
Residential Rental Property Management
Jacksonville, FL

On Mon, May 13, 2019, 6:24 PM David Fotheringham <dwf...@gmail.com> wrote:

Hi All,

I received notice today that an online payment had been reversed. My tenant was new and paying online for the first time and I believe they made an error entering the account or routing number. The code attached to the reversal was "REVERSED - (R03) Account is closed or doesn't match name submitted.: Payment by Jane Doe" so I know it wasn't for insufficient funds. They made the payment on 05/01/2019 and I was notified today, 13 days later that it was reversed. Luckily I had not sent funds off to the owner yet or my trust account would be negative. In your experiences, is 13 days normal?

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[Sanford Collins]

We get a couple of those each month.  It's normally 3 - 4 business days for the notification.  

You should definitely call Buildium to make sure they have all of Forte EFT settings correct.  

Sanford Collins

Director of Operations

www.annapolispropertyservices.com

To view this discussion on the web visit https://groups.google.com/d/msgid/buildium-narpm-users/CAOhuhLkAV79W89g-6qqXX%3D7j2haxd0bdZqD-30qUMu86Ytba4w%40mail.gmail.com.

[Aaron Silverman]

13 days is unacceptable.  I would file a complete with Buildium.  They had problems last month as well or maybe it was the month before.  I do not remember.

[Ana Garcia]

I got one today as well but for NSF. It is not 13 days because you do not count weekends. I still feel we should know a little sooner though. 

On Mon, May 13, 2019 at 6:24 PM David Fotheringham <dwf...@gmail.com> wrote:

Hi All,

I received notice today that an online payment had been reversed. My tenant was new and paying online for the first time and I believe they made an error entering the account or routing number. The code attached to the reversal was "REVERSED - (R03) Account is closed or doesn't match name submitted.: Payment by Jane Doe" so I know it wasn't for insufficient funds. They made the payment on 05/01/2019 and I was notified today, 13 days later that it was reversed. Luckily I had not sent funds off to the owner yet or my trust account would be negative. In your experiences, is 13 days normal?

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[David Fotheringham]

Did everyone get the email from Buildium that explained the issue? Basically, any ACH return that was initiated during the weened of May 4th did not process correctly until they discovered the problem on the 13th. If this didn't go out to everyone I can copy/paste it here so you can all read the details.

On Tuesday, May 14, 2019 at 4:11:04 AM UTC-7, ana wrote:

I got one today as well but for NSF. It is not 13 days because you do not count weekends. I still feel we should know a little sooner though. 

On Mon, May 13, 2019 at 6:24 PM David Fotheringham <dwf...@gmail.com> wrote:

Hi All,

I received notice today that an online payment had been reversed. My tenant was new and paying online for the first time and I believe they made an error entering the account or routing number. The code attached to the reversal was "REVERSED - (R03) Account is closed or doesn't match name submitted.: Payment by Jane Doe" so I know it wasn't for insufficient funds. They made the payment on 05/01/2019 and I was notified today, 13 days later that it was reversed. Luckily I had not sent funds off to the owner yet or my trust account would be negative. In your experiences, is 13 days normal?

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