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Preauthorized payment declined by my financial insitution

  • 16 May 2023
  • 4 replies
  • 94 views
K

I have used preauthorized debit from my personal bank account to pay my Koodo bill since day one with no issues.

I recently changed the preauthorized debit to my company’s bank account (same bank as my personal account).

According to my Koodo account, the preauthorized payment is enabled but I get emails from Koodo saying my bank has declined my preauthorized payment. I have been in contact with my bank and they claim there is nothing from their end preventing preauthorized payments from working.

I’ve tried removing the preauthorized payment from my account and re-entering it (yes, all the banking details are correct), and it doesn’t work. I am able to make a payment from my bank to Koodo and I suppose if I have to I can set it up from my bank’s end, but I would rather do it from Koodo’s side to ensure the full amount is paid each month. Plus, it worked fine before, so I’m not sure what’s going on.

Help!

 

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4 replies

M
Userlevel 7
Badge +4

I have used preauthorized debit from my personal bank account to pay my Koodo bill since day one with no issues.

I recently changed the preauthorized debit to my company’s bank account (same bank as my personal account).

According to my Koodo account, the preauthorized payment is enabled but I get emails from Koodo saying my bank has declined my preauthorized payment. I have been in contact with my bank and they claim there is nothing from their end preventing preauthorized payments from working.

I’ve tried removing the preauthorized payment from my account and re-entering it (yes, all the banking details are correct), and it doesn’t work. I am able to make a payment from my bank to Koodo and I suppose if I have to I can set it up from my bank’s end, but I would rather do it from Koodo’s side to ensure the full amount is paid each month. Plus, it worked fine before, so I’m not sure what’s going on.

Help!

It is possible that the details do not match with your name and address on your Koodo account. Have you considered doing pre-authorized payments to your bank account and have the company reimburse you instead?

D
Userlevel 7
Badge +4

Does your bank see a preauthorized withdrawal attempted on the business account?

Mobile Masters are not Koodo Employees. Our opinions are our own. But consider us Super Users who can answer your questions or at least point you in the best direction to resolve your issues. https://community.koodomobile.com/mobile-masters-231240/mobile-masters-faqs-6831949
K

I have used preauthorized debit from my personal bank account to pay my Koodo bill since day one with no issues.

I recently changed the preauthorized debit to my company’s bank account (same bank as my personal account).

According to my Koodo account, the preauthorized payment is enabled but I get emails from Koodo saying my bank has declined my preauthorized payment. I have been in contact with my bank and they claim there is nothing from their end preventing preauthorized payments from working.

I’ve tried removing the preauthorized payment from my account and re-entering it (yes, all the banking details are correct), and it doesn’t work. I am able to make a payment from my bank to Koodo and I suppose if I have to I can set it up from my bank’s end, but I would rather do it from Koodo’s side to ensure the full amount is paid each month. Plus, it worked fine before, so I’m not sure what’s going on.

Help!

It is possible that the details do not match with your name and address on your Koodo account. Have you considered doing pre-authorized payments to your bank account and have the company reimburse you instead?

I thought about that too, but I couldn’t find anywhere where it says the bank account name has to match the name on the Koodo account. The address is the same. Plus, Koodo is saying it’s the bank who is declining the preauthorized payments, so if it was the name not matching you would think Koodo would say so.

Also, the personal phone bill of the previous owner of the company was being paid the same way and it was not an issue for them. Different phone company but same bank.

Yes, I will end up setting up preauthorized payments through the bank side of it OR just pay it personally and getting the company to reimburse me, but those both involve extra unnecessary steps. There’s no reason I can see why it shouldn’t work.

K

Does your bank see a preauthorized withdrawal attempted on the business account?

No it doesn’t.

 

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