What it means
The EFT wasn't processed because either the name on the account is wrong or the specified bank account is closed.
How to fix it
For tenant payments, Association owner payments, and rental application fees
Confirm that the bank account is still open and try again.
In most cases, this return code indicates that there was a typo in the bank account number. Banks do not often cross-check the name on the EFT with the account holder's name, instead relying solely on the account and routing number. Carefully retype the bank account number when resubmitting the EFT.
For rental owner and vendor payments
Confirm that the bank account is still open and try again.
In most cases, this return code indicates that there was a typo in the bank account number. Banks do not often cross-check the name on the EFT with the account holder's name, instead relying solely on the account and routing number. Carefully retype the bank account number when resubmitting the EFT.
Buildium strongly suggests you get epayment information from a voided check. If a voided check is unavailable, get a letter from the bank or another "official" document.
Formal Definition
R03 - No Account/Unable to Locate Account
The account number structure is valid and it passes the check digit validation, but the account number does not correspond to the individual identified in the entry, or the account number designated is not an open account. (Note: This Return Reason Code may not be used to return POP entries that do not contain an Individual Name.)
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