New Year's Bank Drafts - (not) Happy New Year

[DayTimer]

I awoke this morning to an email from RNA listing a whole bunch of my certificates that were now in the grace period, i.e. had missed their January draft payment. Most of these have been on the books for much of the year without a problem. I called RNA to verify that all these actually did miss their January payment. At that time, no explanation was available, but they would get back to me. I just called and I was told that the grace period notice was sent in error. It was self-generated because all policies set to draft on the 1st or 3rd had not been sent in yet because of the holiday!

So any client who was set for the first because he or she gets paid on the first would actually have had their money since the 31st of December. Any client who is set to draft the thrid has full access to all money throughout today.

I think there may be some NSF's in my future.

 

[shonceman]

I awoke this morning to an email from RNA listing a whole bunch of my certificates that were now in the grace period, i.e. had missed their January draft payment. Most of these have been on the books for much of the year without a problem. I called RNA to verify that all these actually did miss their January payment. At that time, no explanation was available, but they would get back to me. I just called and I was told that the grace period notice was sent in error. It was self-generated because all policies set to draft on the 1st or 3rd had not been sent in yet because of the holiday!

So any client who was set for the first because he or she gets paid on the first would actually have had their money since the 31st of December. Any client who is set to draft the thrid has full access to all money throughout today.

I think there may be some NSF's in my future.

I've been told that some of the veterans got their money as early as Saturday.

Like I said in another thread, chasing NSF's is partly how I got back into the debit. At the time, not one of my carriers did true SS billing, so if the 1st or 3rd fell on a weekend, they weren't drafting until Monday. Then when they came up with these Wednesday paydays, the carriers didn't have a clue how to handle that! I finally figured if I'm gonna have to collect them anyway, I might as well get paid for it!