Applications may enter a “Funding Failed” state during account opening if the application failed during the funding phase. This means identity decisioning was successfully processed, but the account did not proceed to the core banking system. Possible reasons for a "Funding Failed" state include:
Insufficient funds
Frozen account status
Invalid credit card number
Invalid expiration date
Card reported lost or stolen
CCV code mismatch
Address mismatch
ACH funding transactions were reviewed by your staff and manually rejected. Go to About Narmi AO ACH Service for more information.
The card issuing institution does not provide additional details regarding the reason for the decline outside of the above codes listed. Rarely, funding fails because your financial institution’s ACH or card limits may have been reached. In this case, contact support@narmi.com to assist you with increasing your financial institution’s limits.
If an application enters the “Funded Failed” state, no manual intervention is needed from your financial institution. The applicant automatically receives an email stating that their funding failed and suggests they try a different funding method. A link in the email directs the applicant back to the application to enter a new funding type and submit the application. Go to End-user Communications - Funding for more information on this email notification. You can also resend the Funding Failed email in Narmi Command > open the application view > select the three dots > select Send retry funding email.
If the application state is "Funding failed," “Approved,” or “Funding unknown,” your staff can manually change the application status to “Retry funding.” This will initiate another ACH or card transaction for the application. If successful, it retries opening the account on the core. Note: No email is sent to the applicant when this action is performed. For instructions on changing the application state, go to Application Actions - Update Application State.