What happens if my payment is returned by the bank?
What happens if my payment is returned by the bank?
Payments may be returned by the bank if there was not enough money in the account to cover the payment (insufficient funds) or for other reasons such as a closed account, frozen account, inactive account, or invalid account number. Banks charge a returned payment fee to the landlord which will then be passed on to the tenant. Your payment amount due may increase to include the return payment fee.
If you have a returned payment notification please contact your landlord to make new payment arrangements before you do anything else. Depending on the landlord's policy they may reset your payment to allow you to try paying again online or they may require another form of payment such as a cashier's check.
Please refer to your lease agreement and contact your landlord for assistance. If you have questions regarding the reason for the returned payment please contact your bank. If needed you may visit the payment accounts screen in your account to update your bank account on file. Click here for a tutorial on adding a new bank account.
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