The PendoPay transaction failed, what does that mean?

When using the PendoPay service, our system facilitates transactions by sending payment details to our 3rd party payment processor – Bank of Montreal. They process payments from your tenant’s financial institution to the financial institution you selected for your payout account.

When funds are confirmed in the tenant’s account, the funds will be released.
If the funds are unavailable, the payment will be rejected with a code associated with the reason for failure.  This information is sent to the Landlord/Property Management company and the tenant.

The reasons for insufficient funds are as follows:

Non-Sufficient Funds – Insufficient funds available for withdrawal from designated account

Account Frozen – Occasionally, a financial institution will hold transactions from being completed on an account

Payment Stopped/Recalled – The account holder is aware of the scheduled withdrawal and has asked their financial institution not to proceed. The tenant should be contacted and reminded of their obligation under the Lease.

Funds Not Cleared – Some accounts may have various holding periods on deposits made to them. This code suggests that funds may be available for the withdrawal, but the institution won’t clear them because of a hold.

Account Closed –  The Account holder has closed the account, and it is unavailable for electronic processing.

The tenant may see up to three (3) transaction lines on their banking statement:

1. The initial withdrawal showing the attempt to collect the funds
2. The returned payment as funds were not available
3. NSF fee charged by the tenant’s bank (this is separate from the fee that Pendo charges to Landlords/Property Management companies for the failed payment).  You can seek reimbursement from your tenant by creating a new one-time payment for the NSF fee you were charged.

Since you have not received the payment on the due date, you will need to speak to your tenant to arrange an alternate payment.

You could ask them to send an e-transfer or pay cash for immediate resolution.