There are typically two reasons why your ACH payment could fail:
1) Insufficient funds
When you set up an ACH payment the funds are not immediately debited from your account. Instead, the instruction to debit your account is sent to the ACH network and the funds will be debited from your account within 3 business days. If the balance in your account has dipped below the amount needed before the ACH payment has gone through, the payment won't be taken.
To fix this, first check your account to confirm that there are sufficient funds available. Then set up the ACH payment again.
2) Incorrect banking details
When doing an ACH transaction we rely on three important details to ensure that the payment goes through successfully:
- Your account number.
- Your account type.
- Your bank's ACH routing number.
If any of these three details is incorrect, your ACH payment will fail. To fix this, go back to your ACH payment details and double check that each of these fields is correct. If you find a mistake, set up the ACH payment again.