Returned Payment &
Insufficient Funds (NSF) Policy
Clear guidelines regarding returned payments, applicable fees, and payment restrictions following multiple returned transactions.
Blackstone Management is committed to maintaining accurate and timely financial processing for the communities and properties we manage. To ensure fairness and consistency, this Returned Payment and Insufficient Funds (NSF) Policy applies to all payment methods, including but not limited to credit cards, ACH/bank drafts, personal checks, and any other electronic or manual payment submissions.
Returned Payment Policy Details
Select any section below to review the applicable requirement.
What Is Considered a Returned Payment?
A payment is considered returned when it is rejected or reversed for any reason. This includes, but is not limited to:
- Insufficient funds
- Closed accounts
- Incorrect banking information
- Declined credit cards
- Stop-payment requests
What Fee Is Charged for a Returned Payment?
A $35 returned payment processing fee will be assessed to the owner’s account for each returned payment occurrence.
Any bank or third-party processing fees incurred by Blackstone Management or the Association/property will also be charged to the owner’s account.
Is the Assessment Still Considered Unpaid?
Yes. A returned payment is considered an unpaid assessment.
As a result, all applicable late fees, interest, or penalties outlined in the Association’s governing documents may apply.
What Happens After Two Returned Payments?
After two (2) returned payments within a 12-month period, the owner’s payment privileges will be restricted.
The owner will be required to remit payments only by ACH/bank draft or certified funds, including a cashier’s check or money order, for a period of twelve (12) months.
Personal checks and credit card payments will not be accepted during the restriction period.
Are Returned Payment Fees Refundable?
No. Returned payment fees and related charges are non-refundable.
Can Future Payments Be Rejected?
Yes. Blackstone Management reserves the right to reject future payments from any account or payment method that has a history of returned transactions.
Can Online Payment Privileges Be Suspended?
Yes. Returned payments may result in the temporary suspension of online payment privileges or automatic draft enrollment.
Does This Policy Apply to Every Payment Method?
Yes. This policy applies regardless of whether the payment was submitted online, through the mobile application, by mail, in person, or through a third-party payment processor.
What Is the Owner Responsible For?
Owners are responsible for ensuring that sufficient funds are available and that accurate payment information is provided at the time a payment is submitted.
Can Repeated Returned Payments Result in Additional Action?
Yes. Repeated returned payments may be considered non-compliance and may result in additional enforcement action in accordance with the Association’s governing documents and applicable law.
What About Account Balances of $250 or Less?
Refunds on account balances of $250 or less are not offered.
In this instance, the owner will need to adjust their future payment schedule to use the available account credit.
What Happens When a Payment Is Returned?
A returned transaction can affect more than the original payment.
Payment Is Returned
The bank, card processor, or payment provider rejects or reverses the transaction.
Fees Are Applied
A $35 returned payment fee is assessed, along with any applicable bank or third-party charges.
Balance Remains Due
The returned amount remains unpaid, and applicable late fees, interest, or other penalties may apply.
After Two Returned Payments Within 12 Months
Payment options become restricted for the following twelve months.
ACH/bank draft or certified funds, including cashier’s checks and money orders.
Personal checks and credit card payments will not be accepted during the restriction period.
Additional Terms & Conditions
Returned Payment Fees & Related Charges
Returned payment fees and related charges are non-refundable.
Future Payment Methods
Blackstone Management reserves the right to reject future payments from any account or payment method that has a history of returned transactions.
Online & Automatic Payment Access
Returned payments may result in temporary suspension of online payment privileges or automatic draft enrollment.
Governing Documents & Enforcement
Repeated returned payments may be considered non-compliance and may result in additional enforcement action in accordance with the Association’s governing documents and applicable law.
Policy Acknowledgment
By submitting a payment to Blackstone Management or the Association, the owner acknowledges and agrees to comply with this Returned Payment & Insufficient Funds (NSF) Policy.
