Is there a way that IATS can retry failed donations 7 days after the failure happened rather than the following month?

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The retry attempt on REJ response is dependent on the type of failure. Card Reported Lost or Stolen e.g. will be bumped to next month - whereas other failures will attempt next day. Note that you can always catchup or hit Process (if using iATS Legacy) after e.g. updating a Lost or Stolen card so you don't need to wait until next month to capture the monies.

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