There are a few reasons why your payment might have failed, but these are the common ones:
Funds not received before the expiry period
Insufficient funds received
FX (foreign exchange) fluctuated greater than expected
Issue with contractor’s bank account
Funds not received before the expiry period
When you begin the process of paying a Contractor's invoice, the status of that invoice will change to 'Awaiting transfer'. If the funds are not received for 30 days, we automatically cancel the payment. You will receive an email to be notified that the payment has expired. The invoice status will go back to 'Open' and you can redo the payment if you wish.
Insufficient funds received
Once you have transferred the funds to pay a Contractor's invoice, if the funds received are less than the amount stated on the Contractor's invoice, the payment will be cancelled. You will receive an email to notify you that the payment has been cancelled, and the invoice status will go back to 'Open'. You can redo the payment at any time.
Our team will contact you to get your bank details (if not yet provided), and the amount will be refunded.
FX rate fluctuated greater than expected
Foreign exchange (FX) rates fluctuate from one day to the next. Omnipresent covers FX fluctuations up to 1.9% (of transaction value). If the FX rate fluctuates greater than 1.9% the payment will be cancelled as we will require additional funds to complete the transaction.
In this case, you will be notified via email and the invoice status will revert to 'Open'. You will need to redo the payment with the new FX rate to pay the Contractor's invoice.
In the same way insufficient funds are returned, any paid funds will be returned to you via your elected bank details. If we don't have any on file, a member of our team will contact you.
Issue with the Contractor’s bank account
If there’s any issue with the Contractor’s bank account for the payout, we will contact the Contractor to resolve this directly. No action is needed from the client. Once we receive the correct bank details, we will retry the payment and the issue should be resolved. We will only contact you if there is anything we need from your side.
Anything else?
If you need help or something isn't working correctly, please live chat the Support team from your Omnipresent account or email them at help@omnipresent.com.