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eCheck Settlement and money transfer

I have a few questions regarding eChecks that I need to answer for my client. So I know that eCheck transactions are not settled for the Sandbox account I setup. But I understand that in the production environemnt, all eCheck transactions will be settled daily and the settlement process starts at 8:30 AM Pacific Time. From the same link (https://support.authorize.net/authkb/index?page=content&id=A554&actp=LIST) I understand that the money transfer between banks is initiated after the batch is closed. I also understand that money can take anywhere from 3 to 7 business days to move from one account to the other, depending on the banks that are involved in this transfer and the relationship between them.

The question that I was asked, what if the bank account linked to the payment profile that was used in the transaction does not have sufficient funds? For Credit Cards, this is known instantly and the transaction is declined, but for eChecks the transaction can take longer to decide whether it is successful or it fails.

How will my client be notified that an eCheck transaction failed because of whatever reasons, insuficient funds or something else? Initially the transactions seem to be approved so the system that I build assumes that all is fine. We need to build in functionality to retrieve all eCheck transactions that fail to clear and react accordingly to that. How will my client be notified by Authorize.Net that a certain eCheck transaction failed several days after the transaction was issued and presumed successful?

 

TIA,

Eddie

EddieLascu88CNP
Regular Contributor
11 REPLIES 11

Yes, it does. Thank you so much for your help.

I am trying to find someone who is familiar with eCheck.net and integrating that into a Bigcommerce store.  Not sure where to turn for that person and stumbled upon this discussion group.

 

Any reccommendations?

 

Thank You,

Dani

Dani
Member