What is an ACH Return?

An ACH return occurs when an Automated Clearing House (ACH) transaction cannot be processed by the receiving bank and is sent back to the originating bank. This happens for reasons such as insufficient funds, closed accounts, incorrect account information, or stop payment orders. 

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To avoid an ACH return when using the Argo Platform, make sure your bank account has enough funds to cover all transactions you initiate. If other payments or charges occur during this period, you might not have sufficient funds available, causing a return.

If you receive an ACH return notice, contact your bank to check if there are any holds or flags on your account. Sometimes banks mistakenly identify payments to new recipients as risky and temporarily block the transaction, leading to a return. Taking these steps can help prevent ACH returns and ensure smooth processing of your payments.

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What effect does an ACH Return have on my Argo account?

If your outstanding balance is not promptly resolved, additional restrictions may be applied to your Argo account, such as temporary withdrawal locks or even account closure. We recommend addressing all outstanding ACH returns as soon as possible to prevent any negative impact on your account. Once the issue is reconciled, any temporary restrictions will be removed, and you’ll be able to continue using the Argo platform without interruption。

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What happens to my purchases if an ACH transfer fails?

If an ACH transfer fails,

1. You'll receive an email notification informing you of the failed ACH transaction.
2. Since you haven’t paid for the purchase, the trade will be reversed, and the associated metal will be returned to Argo.
3. Funds will be removed from your dashboard, and a reversal noted in your transaction record.
4. We don't hold negative balances or wait for funding.

It's your responsibility to ensure accurate bank information and sufficient funds before purchasing. Don't time purchases to bank settlements, as they aren't real-time and may be delayed. This policy is strictly enforced to keep fees low.