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What happens if I bounce a payment?

This article discusses what happens if you bounce a payment, dispute a payment, or otherwise have a payment returned.

When you make a payment to GTL for your rent or other charges and that payment is returned due to insufficient funds, you disputing it or having it reversed by your bank, or any other reason, then several things happen:

  • You will get a late fee (this is usually 10% of the rent amount)
  • You will be charged a $75 Returned Payment Admin Fee
  • If you have had another bounced payment in the prior 12 months, then your payment options will be restricted to only RentMoney cash payments at Wal Mart, money order, or cashier's check (for money order or cashier's check, there is a $10 Paper Payment Admin Fee for each payment). This restriction will last until you apply to get it lifted, which you can read about here.