What will happen if a customer does not have sufficient funds for a payment?
CHECK payments are received in your incoming cash letter just like a regular check. They are handled in the same manner as a check written out of the customer’s checkbook against an insufficient balance. ELECTRONIC payments are verified for funds availability during processing. If the funds are available, the customer’s account is debited for the payment, and the payment is processed. If the funds are not available, the customer will receive a message after processing informing him that the payment could not be processed due to insufficient funds. The payment will continue to be attempted until either the customer has the funds to let it go through or the customer deletes the payment.
payments are received by the bank just like a regular check. They are handled in the same manner as a check written out of the customer’s checkbook against an insufficient balance. Bounce Back fees or Return Check fees will apply to any overdrawn account. ELECTRONIC payments are verified for funds availability during processing. If the funds are available, the customer’s account is debited for the payment, and the payment information is sent to Princeton eCom. If the funds are not available with the 3 a.m. (Eastern Daylight) processing, Princeton eCom will try again at the 1 p.m. (Eastern Daylight) processing. The customer will receive a message after processing informing him that the payment could not be processed due to insufficient funds. The payment will continue to be attempted until either the customer has the funds to let it go through or the customer deletes the payment.
