Incoming ACH or check transfers can be reversed for multiple reasons, such as insufficient funds, frozen bank accounts, transaction limits, or mismatches in account names.
To avoid transfer reversals, make sure that your bank account maintains sufficient funds to cover your deposit until you receive confirmation that the deposit has been completed. You can also check with your bank representative to make sure your bank account supports ACH transfers, is unfrozen, and doesn’t have any transaction limits.
If an ACH or check transfer is returned, there is a fee incurred of $30 per transaction.
For any questions regarding an incurred reversal, reach out to your bank or bank representative for more information.