Why was I charged a $39 fee?

VERIFI relies on the dealer's VERIFI Administrator to enter accurate banking information for ACH, including the Routing Number and Account Number. VERIFI gives the user two opportunities to enter Account Number information correctly and there are several data checks and submission confirmations screens so the user can check their entered data. Your VERIFI drawdown account is charged a $39 fee for all returned payments. Reasons provided by your financial institution may include:

• Customer Advises Not Authorized
• No Account/Unable to Locate Account
• Insufficient Funds
• Invalid ACH Routing Number
• Invalid Account Number
• Payment Stopped or Stop Payment on Item
• Corporate Customer Advises Not Authorized
• Account Frozen
• Account Closed

Per the Facility Participation Agreement:

(e) In addition to the MV-50 Cost and Transaction Fees, Dealer is solely responsible for all chargeback or collection-related fees (including attorney fees and expenses) that may be assessed if Dealer’s payments do not process, are reversed, or if funds in the account are insufficient as well as the related administrative fee imposed by Vanguard from time to time, which on the date hereof is $39 per chargeback.