Hi, we switched our business account to Qonto last week and updated the IBAN in Tallyfold on Monday. Since then two payouts (€3,480.00 and €1,215.50) show as "Returned" and nothing has landed in either account.
We pay our roasting staff on Friday. Can you tell me where the money is and when it will arrive?
Hi Lena,
Your money is safe. Both payouts went to your old Sparkasse account, which the bank had already closed, so it sent them back to us. Returned funds sit in your Tallyfold balance, and you can see them under Payouts → Returned.1
Your new Qonto IBAN was saved on Monday, but payouts already in transit keep the old account.2 I have queued both amounts, €4,695.50 in total, to resend to Qonto today. SEPA payouts land in 1 business day, so you should see them by Wednesday.3
To stop this next time: change the IBAN at least 2 days before a scheduled payout.
Best,
Mara, Tallyfold Support