When adding your banking information to your Payment Labs account, It is of utmost importance that your data is correct, as incorrect or incomplete data may cause your payments to be returned or delayed. Here we will provide you with some tips to avoid having payments returned.
- Confirm your banking information with your bank: If you are uncertain about your information, you should be able to request the correct information from your bank. Ensuring that the information is correct will avoid many issues with your payment.
- Confirm that the bank account informed accepts the selected currency: In most cases, you will receive your payment in your local currency, so make sure that the bank account informed will accept your local currency. If you are using a service in order to receive your payment in USD, this will likely cause the payment to return, for example.
- All information on your Payment Labs account should be from the same person: If you have someone else receiving the payment on your behalf, please make sure that all information on your account is from that person. This will prevent possible returns and delays on your payments.
- Keep an eye on your email: Our banking partners may need additional information to process your payment. Our team will contact you via your registered email and request this information from you. If you do not provide the requested information within 5 business days, our partner will be unable to process your payment and it will be returned.
- Read the fields carefully: Make sure that you are providing the correct information on the correct field when setting up your Prize Payments account.
- Contact your bank to check for any delays: In some cases, your payment may be delayed at your bank or your bank may require your contact in order to release the funds. If you are expecting a payment, make sure to ask your bank if they received it.
- Reach out to our support: If you have any questions regarding our platform, please do not hesitate to contact us at support@paymentlabs.io.