When a payment fails the owner and tenant will both receive an automatic email and SMS of the failed payment. Cubbi will automatically retry the payment after 24 hours if the payment fails due to insufficient funds. For example, if the payment failed at 2pm on Tuesday the payment would be retried on Wednesday at 2pm.
The tenant can only push the auto retry payment out 1 business day without owner approval.
If the payment fails for due to incorrect bank details, the tenant will be notified to update their bank details and retry the payment themselves.
This process will continue to loop until:
- The payment is successful or;
- The owner stops the auto retry or;
- A payment plan is signed by owner and tenant or;
- The payment has failed 10 times
When a payment has been retried the owner and tenant will receive a notification.
Please note direct debit payments can take up to 3 business days to clear.
All Payments are only transacted on Business Days.
For more information about what Cubbi does if a tenant falls behind in rent go here.