If a paper balance consolidation check has to be sent and is undeliverable for any reason, it will be returned to us. The following procedures will be followed:
- We will void the check.
- The balance consolidation transaction that reflects the undeliverable check will be reversed.
- When the transaction is reversed, an Undeliverable Check Notification Letter is sent to the cardholder.
Note: If a letter is returned to us, the financial institution is contacted and the letter is forwarded to the financial institution in order to contact the cardholder.
Rejected Balance Consolidation (ACH Only)
If an ACH balance consolidation is returned by the lending institution for any reason (invalid account number or no account). we will perform the following tasks:
- Issue a credit transaction to the client for the transaction amount with account details.
- Appears on the Cash Settlement dynamic report.
- Adjust the cardholders account.
- Send a letter to the cardholder.
- Send an email to the client's balance consolidation contact(s) that were provided by the client.
