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Why was my direct deposit canceled or returned?

Why was my direct deposit canceled?

Seeing the word “Canceled” or "Returned" next to one of your deposits? It’s uncommon, but there are a few reasons why a deposit to your Found account may be canceled:

  • The deposit went to the wrong name. If the sender for a deposit enters a name that doesn’t match the name or business name on your Found account, the deposit will be canceled. This tends to happen when a deposit is sent to your business name before you’ve set up your Found account to receive deposits to your business.

  • The wrong account or routing numbers were used. The sender for the deposit may have entered the incorrect account or routing information for your Found account. If you ever need to double-check the account information that was used by a sender, you can access your Found account and routing numbers from the Primary pocket and Business Banking.

  • The wrong account type was selected for the bank transfer. If the deposit sender has the account type set as “Savings” instead of “Checking” the deposit will be returned. Found can only accept a transfer to or from your account when it’s designated as a checking account.

  • More information was required following deposit review and that information either was not or inadequately provided. If your deposit is pending for more than one business day, please check your email for a message from our team with further instructions.

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*Found is a financial technology company, not a bank. Banking services are provided by Piermont Bank, Member FDIC. The funds in your account are FDIC-insured up to $250,000 per depositor for each account ownership category.

The Found Mastercard Business debit card is issued by Piermont Bank pursuant to a license from Mastercard Inc.

The information on this website is not intended to provide, and should not be relied on, for tax advice.

**Direct deposit funds may be available for use for up to two days before the scheduled payment date. Early availability is not guaranteed.

Found partners with various providers to enable you to compare offers from participating institutions, such as lending, filing service, and insurance providers. Found is not a lender, a filing service, nor an insurance provider.