Donation from savings account declined by bank

My Credit Union only allows an EFT to be withdrawn from a "Checking Account" and not from a "Savings Account". Not knowing that, at the time, I submitted a donation through the Church website from my Savings Account which was declined by the Credit Union. I received notice that the church website account that I used had been deleted. I do have a website account configured to pull from my Checking Account that appears to work fine.

The question is... How can I change the account for the declined donation to pull from my Checking Account instead?

I need the record to reflect the 12/28/2016 date of the original declined donation.

Thanks.

mikew4900 wrote:The question is... How can I change the account for the declined donation to pull from my Checking Account instead?

I need the record to reflect the 12/28/2016 date of the original declined donation.

I do not believe you can. When the donation was declined, the transaction ended.

Your only option now is to create another donation using the checking account, but since you did not do that in 2016 (and you probably did not know by then that you needed to), the donation will be credited for 2017.

Despite having received an email notice of the problem, the church site still shows the donation as having been recorded.

I've got someone on the phone trying to work it out for me.

Thanks,

mikew4900 wrote:I've got someone on the phone trying to work it out for me.

If they can, you are set for 2016.

The Donation System always shows the donation as having been recorded before they even go out to the bank for the funds. It is an interesting concept, but I have no real problem with it.

mikew4900 wrote:I need the record to reflect the 12/28/2016 date of the original declined donation.

Please note that in that respect, we're entering into tax law territory. There may be a limit as to what can legally be done.

russellhltn wrote:

mikew4900 wrote:I need the record to reflect the 12/28/2016 date of the original declined donation.

Please note that in that respect, we're entering into tax law territory. There may be a limit as to what can legally be done.

U.S. tax law does allow for this situation, and if they can correct the account that should have been tapped it will all be okay. It is much like a credit card payment where the obligation is made in 2016, even though the actual funds transfer occurs later.

Based on my donation experience, the Church apparently has set up a similar system.

And while the financial transaction process may be technically on-topic, the tax implications are mostly off topic, of course. (Although that's why everyone in the U.S. is holding their breath for the answer.)