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 proceed with processing payments from your tenants financial institution to the financial institution you have selected for your payout account.

When funds are confirmed in the tenants account, the funds will be released.
If the funds are not available, the payment will be rejected with a code that is associated with the reason for failure.  This information is sent to the Landlord/Property Management company as well as 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 – Account holder is aware of scheduled withdrawal and has asked their financial institution to not proceed. Tenant should be contacted and reminded of obligation under 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 institution won’t clear them because of a hold.

Account Closed – Account holder has closed 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. A NSF fee charged by the tenants 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 on arranging an alternate payment.

For immediate resolution, you could ask for them to send an e-transfer or pay cash