Occasionally, direct deposits can not be completed. This can happen when an official provides an incorrect routing number or account number. This can also occur when an account is closed.
When that occurs,
- Reftown receives a notice that the deposit was unsuccessful....usually within 1-3 days after the scheduled deposit posting date.
- The funds will be reversed to the organization's bank account within 3-5 business days.
- Reftown will send both the official and organization administrators an email indicating that the deposit was unsuccessful.
- The invoice associated with that deposit will be marked as not paid.
- The officials account information will be deleted from the system to prevent additional unsuccessful deposits.