If you’ve recently received an R04 rejection on one of your deposits, this indicates that the deposit failed because the account number provided did not meet the bank’s formatting requirements. If you’ve been using the same bank account for awhile and you’re just encountering this issue, it is likely that your bank made some changes to your account number structure. This is particularly common if you use a Chase, PNC, or US Bank bank accounts, since they return to us what are called Tokenized Account Numbers instead of your actual account number. These token account numbers can expire or be updated at any time by these banking institutions for security purposes.
In order to prevent future rejections, it’s recommended to add your bank account via Microdeposits instead of Instant Verification.
For more information on these token account numbers, please see the following article: Why Does My Bank Account Number Appear Differently in Innago?