What is a PAD Discrepancy?
A PAD discrepancy occurs when a pre-authorized debit transaction includes mismatched information such as the amount, payee details, or payment schedule. Common causes include:
Timing issues, like requests coming earlier than expected.
Incorrect amounts due to temporary discounts or outdated payment settings.
Chexy flags these discrepancies for manual resolution to ensure accuracy.
What Happens After a PAD Discrepancy is Reported?
After you report a discrepancy and supply the requested information (e.g., payee name, reason for the discrepancy, and your resolution preference), the Chexy Support team will:
Notify you that your report has been received.
Assign the case to their PAD Payments Team for investigation.
Follow up with updates, usually within 2-3 business days. Note that the payment is generally marked as '"accepted" from the payee's perspective, avoiding delays and potential late fees or penalty charges.
Upon resolution, Chexy finalizes the payment and confirms the outcome with you.
Consequences of Not Resolving a Discrepancy
If you fail to resolve a discrepancy within the provided time frame (e.g., 30 days or recommended 72 hours post-reminder):
The PAD request is rejected (staged for return) by the system. This action is irreversible.
Chexy will no longer be able to process the payment. You will need to handle the payment directly with your payee outside of the platform.
Steps to Resolve a PAD Discrepancy
To resolve a discrepancy efficiently, follow these steps:
Submit the necessary details, including:
Payee’s name.
The reason or context for the discrepancy.
How you would like Chexy to resolve it (e.g. issue a refund without processing fees, charge a corrected amount, etc.).
Await Chexy’s review—most cases are resolved within 2-3 business days.
Follow any additional guidelines communicated during the resolution process. For example, Chexy may require you to update your payment details to ensure future payment amounts align with the PAD requests.
Tips to Prevent PAD Discrepancies
Chexy's PAD feature is currently designed to support fixed payment amounts.
Regularly verify your recurring payment amounts to match payee requests.
Update your payment details promptly in Chexy if any changes occur in your billing arrangements.
Confirm the legitimacy of the payee and cross-check details when discrepancies arise.
Frequently Asked Questions
What happens if a payment is in "waiting for withdrawal" status?
This indicates that funds are ready to be withdrawn from your Chexy Wallet, but are pending a withdrawal request from your payee’s bank or accounting platform. Once the request is submitted, the funds are then released to the payee.
Tip: Confirm with your payee if they will be making a withdrawal request for your funds before reaching out to Chexy Support.