What is the status of my payment? (Receiving accounts) (2024)

FAQs

What is the status of payment received by bank? ›

Received: This is the initial state for all transactions and corresponds to the registration of a validated payment attempt. The payment is Received when an Offer is converted to a payment. Authorized: The payment is approved by the financial institution.

Payment status is the current status of a payment made by a customer when ordering from your store.

A Receiving Account is a set of bank account details in your name that allows you to collect bank transfers in one or multiple currencies.

Processed does not necessarily mean paid. If the bank says a transaction has been processed, that can mean that it has been authorized and authenticated but not yet settled - meaning, the seller may not see the funds in their account yet.

On account could refer to “payment on account” in which payment is made against a certain customer's account without any reference to a specific invoice. Payments on account are often made for purchases on account where the customer has not yet received a bill or invoice.

Payments actually received means cash received or funds deposited to the account of Licensee in which Licensee has an unrestricted right of access and right to use the funds so paid.

Log into your bank's mobile app or online banking account. Look for a section titled 'Transactions', 'Payments', or something similar. Select the UPI transaction you want to check. The transaction status will be displayed, indicating whether it was successful, failed, or pending.

Transaction Statuses can be used to track the state or condition of the transaction record. They can be configured to be generic to all transaction types, whether a Personal Transaction or Company Transaction, or can be tied to a specific transaction type.

Payment status indicator (SI) is a code used in healthcare revenue cycle management to indicate the current payment status of a claim or transaction.

Accounts receivable is what you're owed by customers. Once you send an invoice (or bill), it becomes part of your accounts receivable – until it's paid. Accounts receivable is the name given to both the money that's owed, and the process of collecting it.

What are payments received on account? ›

Payment on account - What is payment on account? Payment on account is any partial payment of an amount that is owed, either to you or by you, that's not matched to a specific invoice.

Payments are transactions originating from the customer's account, credit or debit to an external party, these can be wire, book payment, or ACH. Received payments are incoming ACHs that are advanced, completed, pending, pending review, returned, or marked for return.

A Payment status represents the status of your Payment as a whole and will get an Initialized status upon creation. You will see its status in the response of the Create a Payment request. Should you wish to check your Payment's status afterward, you can do so anytime with the Retrieve Payment API.

Payment processing is the sequence of actions that securely transfer funds between a payer and a payee. Typically, it involves the authorization, verification, and settlement of transactions through electronic payment systems.

For your reference, “Received by bank” status means that the payment has been authorised and received by bank systems.

Contact the bank. If you are the one waiting to receive a payment, you should contact your own bank with the ACH trace number. You may have to contact the payer for these details. If the payee is the one waiting for the transaction to clear, they should contact their bank.

Credit and debit card transactions are often processed instantly, but funds can take a few days to clear. ACH or Direct Debit transactions typically take 1-3 business days, while wire transfers are usually processed the same day.