Payment Issues

What to do when a payment fails or does not go through

Sometimes payments do not go through on the first try. Here is what might happen and what you can do about it.

Why Payments Fail

Payments can fail for several reasons:

Insufficient funds — Your bank account does not have enough money to cover the investment amount plus fees
Bank blocked the transaction — Your bank flagged the transfer as unusual and prevented it
Bank account closed or inactive — The linked bank account is no longer active
Incorrect bank account details — The account information does not match what the bank has on record
Bank processing limits — Your bank may have daily or per-transaction limits that prevent larger transfers

What Happens When a Payment Fails

Status changes

Your investment will update to "Payment Retrying" or "Payment Failed" depending on the nature of the failure.

You receive a notification

The platform sends you an email explaining the issue with your payment.

Investment is preserved

A failed payment does not mean your investment is lost. The platform will attempt to resolve the issue.

You will also see an action banner on your investment detail page and in the Attention section of your portfolio.

Automatic Retries

For common issues like insufficient funds, the platform will automatically retry the payment. You will receive an email with the retry date.

Here is how automatic retries work:

The platform waits a period of time (typically a few business days) to allow you to add funds
During this time, your investment status shows "Payment Retrying"
If the retry succeeds, your investment moves forward to "Payment Processing" and then to "Funded"

Make sure your bank account has sufficient funds before the retry date to avoid further failures.

How to Resolve a Payment Issue

Check your bank account

Make sure there are enough funds to cover the full investment amount plus fees.

Contact your bank

If the bank blocked the transaction, call them to authorize future transfers from the platform.

Verify your account details

Make sure the linked bank account is still active and the details are correct in your account settings.

Wait for automatic retry

If the issue was insufficient funds and you have added money, the automatic retry should succeed.

What If I Cannot Resolve It?

Even when a payment fails, the platform works with you to find a resolution. Your spot in the deal is held while the issue is being resolved.

If automatic retries have been exhausted or the issue is something you cannot fix on your own, your investment status will change to "Payment Failed." At this point:

Contact our support team — Reach out to support@playmoney.com with your investment details. The team can help you explore options, such as switching to a wire transfer or updating your bank account
Your investment remains active — The platform holds your spot while the issue is being resolved

Will a failed payment affect my credit score? No. ACH payment failures on Play Money do not affect your credit score. The failure is between your bank and the platform — it is not reported to credit bureaus.

How many times will the platform retry? The platform will attempt a limited number of automatic retries. If all retries are unsuccessful, the status changes to "Payment Failed" and you will need to contact support.

What if the deal closes before I can pay? If you committed to a deal and payment is still being processed or retried, your commitment is preserved. Contact support if you are concerned about timing.

Can I switch from ACH to wire after a payment fails? Contact our support team to discuss alternative payment methods. They can help you arrange a wire transfer if ACH is not working.

I have a "Balance Due" status. What does that mean? A "Balance Due" status means there is an outstanding amount on your investment, usually after an adjustment. The platform will provide instructions for how to resolve the remaining balance.

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Last updated 2 weeks ago

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