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Why was my direct deposit canceled?

Why was my direct deposit canceled?

Seeing the word “Canceled” 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:

  1. 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.

  2. 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 view your account numbers under the “Business banking” section in your app menu.

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Banking services are provided by Piermont Bank, Member FDIC.