eCheck: Why Refunded by the Bank?
RecTrac 3.1.10.16.00
Table of Contents
Problem
Customer noticed that an eCheck had been refunded when they ran their cash journal. Why had this occurred?
Error Message
Cash Journal CSV & in Finnix included a code RO3: No Account/unable to locate the account.
Solution
Customer needs to enter the correct routing numbers for eChecks, not the ach routing number.
No two banks have the same routing number. However, some banks may use several different routing numbers for different types of accounts or transactions. For example, your checking account may have one routing number for wire transfers, another for ACH deposits, and a third for sending checks.