Resolving Failed and Frozen Payments

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Common Reasons Payments Fail

• Your account didn't have enough money to cover the payment
• Your bank reported your account as closed
• A bank account or debit card number was entered incorrectly
• Your bank reported a stop payment on the transaction
• Your bank reported your account as frozen
• The transaction triggered a fraud alert with your bank, and your bank stopped it
• Your bank reported your payment card as stolen
• Our payment partner couldn't verify your identity and canceled the transaction

How to Resolve Failed Payments

If your payment didn’t go through, you can update the payment date right in the app. Open Update payment dates, tap the pencil next to the unsuccessful payment, and choose a new date. If you need more time than the app allows or you’d like help finding out why your payment was returned, reach out to our Customer Success team using the Contact Us form in the app as soon as you can.

Why did my payment change from “completed” to “failed”?

Sometimes a payment shows as completed before we're notified that it failed. If it was your final payment, your loan or advance may briefly show as paid off. Once we're notified, your payment status updates automatically and, if applicable, your loan or advance reopens as active.

Your loan or advance will return to paid-off status once your final payment goes through. You can reschedule your payment in the app. If you can't, reach out to Customer Success and they'll help.

If you have a Possible Loan, keeping your payments up to date also helps protect your credit. We offer a 29-day grace period on all payments, so a payment made within 29 days of its original due date won't be reported as late to the credit bureaus. If a payment issue isn’t resolved and a payment is made more than 29 days after its originally scheduled date, your credit score will be affected. Learn more about late payments and credit reporting.

Why are My Payments Frozen and How Can I Unfreeze Them?

Payments can be frozen when an account falls far behind

A freeze stops us from charging your account and causing additional insufficient funds fees. Until you unfreeze your payments, we won't process them. If you have a Possible Loan, your credit will be affected until your payments are made.

How to unfreeze payments

To unfreeze your payments in the app, link a new bank account and set it as your AutoPay account.

Once your payments are unfrozen, update your payment dates in the app to get your account back on track.

If you'd like to keep your existing payment method, or you're having trouble updating your payment dates, use the Contact Us form in the app. Our Customer Success team can review your account and, where possible, unfreeze your existing payment method. If making your payments right now is a struggle, they can also help set you up on a payment plan.

To make a payment right away

You can manually add a bank account or debit card and use it to make a one-time payment. This doesn't unfreeze your payments, so you'll still need to unfreeze them separately. Learn how to make a one-time payment with a different account.

Overdraft and Non-sufficient Funds Fees

Why did I get an email about a potential overdraft?

If you've opted in to prequalify alerts, we monitor activity on your linked bank account through continuous underwriting. When we spot an upcoming payment that could overdraw your account, we'll email you so you have time to act.

If you get one of these alerts, check your balance with your bank and, if you can, transfer funds into the account. We send these notices even if you don't have an active Possible product, because overdrafts can affect your chances of approval for future borrowing.

We only send these emails occasionally. If your bank offers alerts, set them up to catch potential overdrafts every time.

Can I get a refund for an overdraft fee?

We know how hard it is to get hit with an overdraft fee, especially when the fee is bigger than the overdraft itself.

Most banks allow a courtesy refund of an overdraft fee once a year, and some allow more. Here's how to ask for yours:

Call your bank when you have time, and make sure your account balance is positive when you do. Have these details handy to save time:

• Home address on file with your bank
• Bank account number
• Date of the overdraft fee
• Your most recent transaction (date, merchant, amount)
• Anything else your bank asks for to verify you

When you reach a representative, tell them you incurred an accidental overdraft fee and would like it reversed. It's often that simple. Banks are more willing to refund fees than you might expect.