Why Customer’s Payments Are Returned?

Why Payments are Returned

• Expired Debit or Credit Cards
• Lost or Stolen Cards
• Stopped Payments
• Insufficient Funds
• Closed Accounts
• Invalid Account Numbers

What It Means To You:

• Every time a payment is returned there is a cost associated with the processing of a return regardless of the reason for the return.

• The faster you learn what caused the return, the lower you collections cost will be.

• Repeated insufficient funds are usually an indication that your customer is having economic difficulties.

• Finding out that a customer’s account is closed through the return process usually means a customer has a dispute with the amount charged or the service provided.

• An invalid account number usually means lack of attention to detail during the enrollment process.