An ACH reversal happens when a scheduled transfer gets canceled. Reversals may happen for a few reasons:

  • Insufficient Funds

  • Wrong Type of Account (doesn’t support ACH transactions)

  • Duplicate Transaction

  • Declined Transfer

To prevent reversals, we recommend taking the following steps before initiating transfers to Otis:

  • Verify that you have sufficient funds available for 1-2 business days following your transfer request in the app because the request might be delayed reaching your bank.

  • Confirm that your bank account is compatible with standard outgoing ACH transfers, and that you’ve entered in the correct information when you linked the account.

  • Refrain from making transfers from a savings account because it might be limited to 6 transactions per month (including any small amounts we transferred to link the account manually).

If your transfer into Otis is reversed, we’ll send you a notification email. In some cases, we’ll unlink your bank account after multiple reversals.

If you have any questions about a reversal, we suggest speaking with your bank. We don’t initiate reversals.

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