Banks require approximately 7 to 10 business days to process ACH payments. In order to receive your deposits in 2 business days, the processor will front you the funds. The processor is assuming the risk so that you receive your funds and your payment files match your deposits.
If a transaction is returned by the bank, the processor will then take their funds back, which results in a debit to your account or a netting of a deposit. MuniciPAY will mark the payment as Rejected and note the reason given back by the bank for the rejection. You'll be able to review the status of any Rejected ACH/eCheck payments in your Transactions tab from the main menu.
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