Rise users may encounter issues with payments or withdrawals, including failed transactions, returned payments, or delays. This guide explains common reasons behind these issues and provides actionable steps for resolution, ensuring a smoother experience on the platform.
Common Reasons for Failed or Returned Payments
1. Incorrect or Mismatched Bank Details
Withdrawals can fail if:
Account numbers are invalid.
Names or addresses provided do not match.
Customer or bank details are incorrectly entered.
Resolution:
Verify your full name, bank account number, and address.
Update incorrect details in your Rise payout settings.
Re-submit the withdrawal request.
2. Shared Withdrawal Accounts
Using the same bank account or crypto wallet for multiple Rise accounts may trigger security protocols that block withdrawals. Resolution:
Connect a unique withdrawal account (bank account or crypto wallet) for each Rise account.
3. Banking Partner Issues
Transactions may fail due to issues with the bank’s processing systems, even if your details are correct. Resolution:
Wait for refunded funds to appear back in your Rise account.
Retry the transaction once the balance is restored.
If you're unsure about something, just reach out to support at hello@riseworks.io.
4. Unsupported Withdrawal Types
Certain wallets or accounts do not support specific transaction types. For example, direct USD withdrawals may not be supported from a GT wallet. Resolution:
Transfer funds to a local bank account that supports the wallet.
Consider cryptocurrency withdrawals if applicable.
5. Security or Compliance Blocks
Withdrawals are temporarily blocked to safeguard funds and maintain platform integrity. Resolution:
Provide unique withdrawal details for each Rise account.
Refund Policy and Fees
If a withdrawal fails or is returned, Rise refunds the funds back to your account balance. Associated withdrawal fees are also refunded.
Note that while Rise sends the full withdrawal amount, intermediary or receiving banks may deduct processing fees. Rise charges a fixed fee of $10 for local currency withdrawals and $20 for USD withdrawals.
Tips to Avoid Payment Issues
Double-check all bank and personal details before submitting a withdrawal.
Use unique bank accounts or crypto wallets per Rise account to prevent security blocks.
For unresolved payment issues, consider using alternative withdrawal methods such as crypto wallets instead of traditional banking channels.
This guide covers the most common hurdles you might face with payments on Rise and provides practical advice to overcome them. For additional assistance, please consult the Rise support resources at hello@riseworks for further guidance