What is a bounced payment?
A bounced payment is a payment that couldn’t be delivered to the beneficiary’s bank account. This may happen due to incorrect bank details, invalid beneficiary information, or a bank/system error. When a payment bounces, the funds are returned to your Wallet, and you’ll receive an email explaining the reason.
What happens to the funds?
If a payment bounces, the funds are returned to the same Wallet used for the payment (EUR, GBP, or USD), listed as 'refund for failed payment'. If the payment was sent in a different currency, the refunded amount will be converted back and credited as an equivalent amount in that wallet. Please note that fees charged for the failed transfer may not be refunded.
How do I retry a bounced payment?
Once a payment bounces, the invoice moves back to the Inbox tab. You can retry the payment after updating the details that caused it to fail. For example, if the bank details were invalid, simply edit them and submit the payment again.