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It depends. Most banks will not charge for the first bounced payment. If the bounced payment reoccurs, then they might charge you a fee. This might be different for business or commercial bank accounts.
Essentially, the payment will fail and any funds attempted to be taken out of the account will 'bounce' back, returning to the customer. As a company, you can alert the customer to the missed payment, while their bank or building society may also choose to as well.
When a Direct Debit collection fails, you can try and collect the payment again. This is known as re-presenting. However, before trying to re-present, it's important to understand why the failure happened in the first place, using the reason code in your ARUDD report as a starting point. What to do if a Direct Debit payment fails - Access Paysuite Access Paysuite ? Blog Access Paysuite ? Blog
Answer: If a direct debit from the EFT file is rejected after sending it to the bank, the bank typically sends you a report to inform you of any declined transactions. Contact your bank for specifics on how your bank handles this situation.
If there is not enough money in your account for the direct debit, you may be charged a dishonour fee by the bank and perhaps another dishonour fee by the merchant. The bank could also choose to process the direct debit anyway and overdraw your account.