View the frequently asked questions in regard to held payments, information, or documentation requests when using Autobooks to accept payments.
- Why was I asked to provide additional information for a customer payment?
- It’s important that Autobooks maintains a safe payment processing platform for our small business merchants and payors.
- Understanding your product and service offerings is crucial for online payment processing. This information helps Autobooks enhance security measures, effectively manage fraud risks, and ensure transactions align with best practices.
- Providing detailed insights about your business activities allows for a safer, more efficient online payment environment, supporting your business's growth and stability.
- What are information requests?
- Autobooks may, on occasion, request that you provide additional information and/or documentation to ensure your account, payments and payors are protected from fraudulent activity.
- I just received an information request from Autobooks. What do I do next?
- When Autobooks requires additional information to release a hold on a payment, you will be notified via email. Review the instructions carefully and reply to the email with the appropriate responses, including any requested information and documentation.
IMPORTANT: If a response is not received within 7 days, the payment being held may be cancelled. If this happens, you will receive a notification via email.
- How is Autobooks legally allowed to place a Hold on my customer payments?
- When you initially signed up for Autobooks, you accepted Terms & Conditions to our “End User Licensing Agreement” or “EULA.” The EULA gives Autobooks permission to protect your account, which includes the right to hold payments made on the Autobooks platform.
- How will this information be used?
- The information and documents you submit will be used for processes that mitigate risks and protect your business. This information is used for Risk & Merchant Underwriting processes that make Autobooks a safe platform to process payments.
- I submitted all information requested. What should I expect next?
- Once you have submitted all requested information, it will be submitted for review. Once the review is completed, you will receive an email that shares the status of the payment being held.
IMPORTANT: There is a small chance that after the review is completed, we will still need additional information before your payment can be released.
- When will the funds settle in my bank account?
- If you receive an email notifying you that your payment has been released for settlement, the funds should settle in your bank account within 1-3 business days – from the date you are notified.
- I will not provide the requested information and/or documentation. What are my options?
- You have the option not to submit the necessary information and/or documentation requested. If this is the case, you can cancel the payment yourself by logging into your online bank account associated with Autobooks, locate the payment being held, and cancel it.