Yes - you can update the label at any time by delivering an update. Reports after the update will reflect the new label.
Review your bank account information in Agreements, Tax, and Banking on iTunes Connect, and make updates to your bank information, as necessary, based on the return reason indicated in the email. Once you make any necessary updates, we will attempt to repay the returned amount along with all other amounts owed within two payment cycles of your banking update.
The return message presented on iTunes Connect is based on information from your bank. This is the best information we have on why your bank did not process a payment. The return message may provide an indication of the updates to your bank account information required.
If it appears that your bank account information is correct and the return reason doesn't indicate what changes are required, try reaching out to your bank. Use the Bank Payment Reference Number presented with the returned payment to assist your bank in finding the returned payment. Once the return is found, your bank should be able to identify the action needed to allow you to be paid.
The Bank Payment Reference Number is a nine digit payment identifier communicated by Apple's bank to your bank at the time a payment is attempted. This is only displayed when a payment we've attempted to make to you is returned. You may be able to use the Bank Payment Reference Number to follow up with your bank to find out why a payment was returned and the corrective action necessary in order to successfully process payments to your account.
You should also review the return reason presented on iTunes Connect for further indication of the action you can take to ensure the next payment is successful.
The returned payment message on the iTunes Connect home page will stay until you update your banking information, or a payment is successfully made to you during the following month’s payment cycle.