As an important tool to reduce risk and fight fraud, we’ve added a Reports tab to the Settings screen. This will raise program awareness of potential issues with ACH returns, Debit pull chargebacks, and Card forced debits.
It’s important to note that there are ACH Return thresholds that, if exceeded, will require us to disable ACH functionality.
We recommend closely monitoring this report screen and disabling ACH or Debit Pull for specific accounts if any returns are filed.
The statuses are as follows:
- Recovered: We received an ACH Return code but it was recovered, resulting in no financial loss
- Returned: We received an ACH Return code with potential of financial loss
- Invoiced: Solid invoiced the program to cover the financial loss from the return
How does this relate to the ACH Reversed number in the Dashboard Overview?
The ACH Reversed metric in the Payments section of the Dashboard Overview shows only Recovered ACH returns and is not a barometer for potential fraud loss. Instead you should look at the Returned and Invoiced Returns to get a sense of fraud loss. Solid will bill the program each month to recoup any financial loss incurred by the program (if applicable).
