Understanding Direct Debit Payment Dishonor

What is a Payment Dishonor?

A payment dishonor happens when RentAAA attempts to collect a scheduled payment via Direct Debit or PayTo from your designated bank account, but the transaction fails. This can happen for a few reasons, which we’ve outlined below.

Common Reasons for Direct Debit Failures

• 1. Insufficient Balance in your Bank Account: One of the most frequent reasons for dishonor is that the customer does not have enough funds in their linked bank account.

  Example: If your payment is $200 AUD, you must have at least $200 AUD plus transaction fee in your account. If not, the transaction will be dishonored.

• 2. Ineligible Bank Account: Some bank accounts may not support Direct Debit transactions. Check with your bank for this.

• 3. Bank Restrictions: The customer may have instructed their bank to block Direct Debit payments. Check with your bank for this.

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Dishonor Fee - What You’ll Be Charged

If a payment gets dishonored due to any reason, a dishonor fee will be applied.

How to Avoid Payment Dishonor?

• 1. Maintain Sufficient Funds: Ensure your bank account has enough balance before the scheduled deduction date.

• 2. Verify Account Eligibility: Confirm with your bank that your account supports Direct Debit payments.

• 3. Do Not Block Direct Debit:Avoid placing any restrictions on Direct Debit transactions on your bank account.

We're Here to Help

We understand that mistakes happen. If your payment was dishonored and you’re unsure why, feel free to contact our support team for assistance.