An ACH return occurs when payment information is provided to a bank and the payment is returned. It is essentially the equivalent of bouncing a check. The most common reasons for an ACH return are as follows:
- Insufficient funds
- Stop payment
- Incorrect account information - name, routing number, or account number
If an ACH return occurs for an incoming or outgoing transfer your transaction activity will reflect this return. The transaction will show as 'ACH Return' with the amount returned. If you have have any questions regarding ACH returns, please reach out to us at support@lance.app