Understanding PAD Payments and Discrepancies
Pre-Authorized Debit (PAD) payments (also widely known as Direct Debit payment) in Chexy allow for convenient and automated scheduled payments that can be withdrawn by your payee. However, discrepancies in PAD requests, such as incorrect amounts or mismatched details, may occasionally arise. Despite these issues, it is essential to understand how Chexy handles them to ensure uninterrupted payments.
Will My Payment Be Delayed Due to a PAD Discrepancy?
No, your payment will not be delayed due to a PAD discrepancy as long as the status of the payment has been marked as "accepted." Chexy ensures that, from the payee's perspective, the payment is processed on time, even while discrepancies are being investigated and resolved internally. This applies to any PAD-related issues, including mismatched names, payment amounts, or due dates.
What Happens if a PAD Payment Discrepancy is Found?
If a discrepancy is found, Chexy’s PAD Payments Team will review the details and investigate the issue. In the meantime, the payment remains "accepted" for the payee, and there is no delay in the transfer. Common discrepancies might include:
Payee name mismatches
Payment amount mismatches (a mismatch between the amount entered in Chexy and the amount requested by the payee)
These investigations do not impact the payee’s ability to access funds.
Steps to Take When a Discrepancy is Identified
When you identify a PAD discrepancy, follow these steps:
Contact Chexy for clarification: Review the payee, amount, and any unexplained PAD request via Chexy support or your account portal.
Approve or resolve the request: Let Chexy know if you approve the PAD request or if you plan to address the matter directly with the payee.
In case you approve the resolution, Chexy will process the payment accordingly.
How Long Does the Resolution Process Take?
Chexy typically resolves PAD discrepancies within 3-4 business days. During this period, affected customers receive updates if further action is needed. Follow the guide in the email or account notifications on next steps.
Assurances for Payees During Discrepancies
If payees have already marked a payment as "accepted," they will not experience a delay attributed to these issues. Even during internal investigations, the payee’s receipt of funds remains unaffected.
Summary and Key Takeaways
PAD payment discrepancies do not cause delays, as long as payments are marked as "accepted."
Chexy investigates and resolves discrepancies while keeping the payment process uninterrupted.
Updates regarding PAD issues are communicated within 3-4 business days.
You can contact Chexy to provide instructions on addressing discrepancies confidently.