Bank debits

What is a bank debit?

If there’s not enough money in your FareHarbor account to issue a refund, or to account for a received dispute, FareHarbor will initiate a withdrawal from your connected bank account (also known as a bank debit) for the required amount. Other ways debits can be initiated are by making a transfer from your bank to your refund reserve, or if FareHarbor needs to withdraw funds for any reason.

How do I check the status of a bank debit?

You can view your bank debits and their statuses in FareHarbor by going to the Reports section of your Dashboard, selecting the Payouts & Refunds report, then going to the Refunds & Bank Debits tab. Here you’ll see any bank debits created within the selected date range, along with the reason (in the Note column) and debit status.

In most cases, bank debits will be completed in 4-5 business days and the debit status will be updated from Pending to Succeeded. However, in rare cases, a bank debit may be marked Failed. Learn more about failed bank debits below.

Why do I have a failed bank debit?

A failed bank debit may be caused by one of several factors:

• You have a Payoneer or Wise account: FareHarbor cannot complete bank debits from these accounts, even if you’ve asked the company to authorize them.

• A ‘stop payment’ was made on the associated charge: A ‘stop payment’ is a request made to your bank to cancel the associated payment.

• Your bank may need to update its whitelist: Some banks require you to explicitly whitelist debits from our payment processor, Stripe. If you need to do this and your bank account is in the US or Canada, contact your bank and let them know you would like to allow FareHarbor to make ACH withdrawals and whitelist the following company IDs: WFMSTRIPE1, 3270465600, 1800948598, 2270465600, and 4270465600.

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More information about Stripe’s ACH company IDs can be found on this Stripe Support page.