Return Code (R50) - The OwnerCompany ID field is not valid.

What it means

They're in a state that doesn't allow ACH transactions because local state laws require a physical canceled check to process the payment. This is an older return code that will probably never appear in your account.

How to fix it

For tenant payments, Association owner payments, and rental application fees

Contact the resident or applicant to find out how they'd like to proceed. They should contact their bank to confirm that their bank account can process ACH transactions before resubmitting.

For rental owner and vendor payments

Contact the rental owner or vendor to find out how they'd like to proceed. They should contact their bank to confirm that their bank account can process ACH transactions before resubmitting.

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

R50 State Law Affecting RCK Acceptance

The RDFI is located in a state that has not adopted Revised Article 4 of the Uniform Commercial Code (1990 Official Text) and has not revised its customer agreements to allow for electronic presentment.

OR

The RDFI is located within a state that requires all canceled checks to a specific type of account to be returned to the Receiver within the periodic statement. An RCK entry that is returned using this Return Reason Code must be transmitted by the RDFI to its ACH Operator no later than midnight of the second banking day following the banking day of receipt of the presentment notice.

Article #: 112271

 

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