PracticeQ Payments - ACH Clawbacks

At times ACH transfers with PracticeQ Payments fail to settle. These are called ACH clawbacks. Here is what will happen when your practice encounters an ACH clawback.

• ACH transactions take up to eight business days to settle with the banks. The PracticeQ Payments funding bank deposits the funds after five business days, before the transaction settles, to get you the money more quickly. 
• If the payment ends up not settling, we then deduct the funds from your bank. This is referred to as an ACH clawback. ACH payments can fail to settle due to incorrect account information or insufficient funds.
• The option to refund ACH payments is held by our system for five days to help avoid issues with ACH clawbacks after a refund has been placed. 
• Keep in mind that an ACH payment can still be rejected by the bank after five days, so we recommend waiting at least 8-10 days before submitting a refund, to give additional time for a potential clawback. 
• Please note that there is an ACH return fee of up to $25 for ACH transactions that fail to settle.