What it means
The bank account holder and/or the beneficiary for that account are deceased and the bank is returning the EFT.
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.
For rental owner and vendor payments
Contact the rental owner or vendor to find out how they'd like to proceed.
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
R15 Beneficiary or Account Holder (Other than the Representative Payee)
(1) The beneficiary is the person entitled to the benefits and is deceased. The beneficiary may or may not be the account holder; or (2) The account holder (acting in a non-representative payee capacity) is an owner of the account and is deceased.
| Article #: | 112264 |