Navigating repayment statuses within your account transactions is essential for maintaining financial clarity. This article aims to provide an explanation of different repayment statuses, helping you understand their implications and the actions required.
Pending:
When you see this status, it means a scheduled direct debit repayment is pending submission and set for the specified date. The payment is prepared for processing but hasn't been initiated yet.
Submitted:
A 'Submitted' status indicates that the scheduled direct debit repayment has been initiated. However, it's important to note that the clearing process may take 1-2 business days.
Cleared:
This status signifies that the repayment has been successfully received and confirmed. Please keep in mind that it might take 1-2 days for a scheduled repayment to clear. You'll receive an SMS confirmation, of the successful transaction as soon as possible.
Declined:
If you encounter a 'declined repayment' status, it implies that the scheduled repayment attempt has failed. This may be due to your account's status or insufficient funds at the time of processing. Your repayment will automatically be rescheduled for your next income date. Alternatively, if faced with this situation, promptly contact support@presspay.com.au for assistance.
Voided:
A 'voided repayment' status arises when a payment has been invalidated. This could occur for various reasons. Your repayment will automatically be scheduled for your next income date. Alternatively, for further guidance, reach out to support@presspay.com.au.
You can find your repayment date on your transaction receipt or by logging into your dashboard. Please ensure you have the value of your repayment available in your account on your repayment date to ensure a successful transaction.
Understanding the range of repayment statuses empowers you to manage your financial transactions more effectively. By comprehending the implications of each status, you can take timely actions and seek assistance when necessary. Whether it's a pending repayment, a successfully cleared one, a declined transaction, or a voided payment, this guide equips you to navigate your account transactions with confidence and ease.