Bacs notifies London & Zurich of failed payments within 36 hours of the scheduled collection date. For example, if a payment was due on Monday, notification will usually be available by Wednesday.
Common reasons for failed payments include:
- Insufficient funds in the customer’s account
- Account closed or invalid
- Direct Debit cancelled by the customer
- Banking errors or delays
Once the failure notification is received, it will appear in your account reporting and dashboards.
For more details, please refer to the Collections Failure Report in your portal. The following link will provide you with more details on the Collections Failure report:
Do you have a report that shows failed collections and what does this show?
If you require assistance interpreting a failed payment, contact customer.services@landz.co.uk.