Why is my Payment Delayed or Rejected?

There are several reasons why a payment from FastSpring to you may be rejected or delayed. Although we attempt to pay you on the exact date listed in Accounting, due to weekends and holidays, sometimes these payments arrive a few days early or a few days late. If your scheduled payment has not arrived within 5 days of the expected date, there may be an issue with how it is set up in SpringBoard. Common reasons for delayed or rejected payments are described below.

Incorrect Banking Numbers

The most common reason that a payment to you is rejected is that the routing number, sort number, SWIFT number, bank account number or IBAN number is entered incorrectly in SpringBoard. If one digit is incorrectly entered, it can cause a delay in receiving the payment because the bank must figure out where the money needs to go, or it may cause the money to simply be rejected to the original sender.

Please go to SpringBoard's Store Home » Account to check your Payment Method details. 

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Under Payment Setup, click to Edit your current Payment Method. Then click to Edit your Selected Payment Method.

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You can check your Routing Code / Sort Code and your Routing / SWIFT number. Note: You can only see the last four characters of your Bank Account Number / IBAN. 

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If you think you may have entered an incorrect Bank Account Number / IBAN, you can do one of two things:

  1. Open a support ticket, provide us with your bank account number / IBAN, and ask us to check whether it is entered correctly.
  2. Create a new payment method and re-enter all bank details. Click Payment Methods from the top of the screen. Under Actions, click your payment method option. Re-enter all information.

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Incorrect Beneficiary

Some payments are rejected because the beneficiary on the account is incorrect. This is especially common for banks located outside of the United States as international banking rules have severely tightened over the last few years and they now make many inquiries to confirm and verify the beneficiary name on bank accounts. As with the possibility of an incorrect number in your bank account information, please also check the name of the beneficiary in SpringBoard to make sure it matches your bank account.

Intermediary Bank Changes

Sometimes payments are delayed or rejected because the selected intermediary bank (if one is required) has changed without notice. This is most common for international banking systems. If you are located in a country that requires an intermediary bank, please confirm that the intermediary bank listed in SpringBoard is still the correct one.

We're Here to Help

If you have confirmed that all banking information in SpringBoard is correct, that the listed beneficiary in SpringBoard is correct, and have confirmed that your intermediary bank is still correct, but it has been over 5 days and you still have not received a scheduled payment, please open a support ticket.

 

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