Understanding the Transaction Status
When making or receiving a payment, it is important to understand the various transaction statuses that you may encounter. In this article, we will provide you with a comprehensive list of these statuses and their respective meanings.
Paid - This status indicates that the payment has been successfully processed and is complete. The funds have been transferred to the recipient's account.
Failed - If you see this status, it means that the payment could not be processed. The most common reasons for a failed payment are an incorrect billing or withdrawal method, insufficient funds, or an inactive account.
Refunded - If a payment has been refunded, it means that the funds have been successfully returned to the sender's account.
Processing - This status indicates that the payment is still being processed and has not yet been sent to the end destination.
Cancelled - If the sender cancels a transaction, the payment will be refunded to their goWallet. This status indicates that the payment has been cancelled.
Completed - This status indicates that a withdrawal has been successfully processed and the funds have been transferred to the recipient's account.
Declined - If the recipient declines a payment, the transaction will be marked as declined.
Pending - This status indicates that the payment has been received, but it has not yet been released. The payment will be released once it has been reviewed and approved by the sender.
Withhold - If the payment says withhold, it means that the payment is being held by goLance in escrow and will be paid once the freelancer has submitted the work and the client has approved it.
By understanding these transaction statuses, you can easily keep track of your payments and know exactly what is happening with your money.
If you would like to see specific information in this article that is not already mentioned, please rate the article below and leave your comment
Paid - This status indicates that the payment has been successfully processed and is complete. The funds have been transferred to the recipient's account.
Failed - If you see this status, it means that the payment could not be processed. The most common reasons for a failed payment are an incorrect billing or withdrawal method, insufficient funds, or an inactive account.
Refunded - If a payment has been refunded, it means that the funds have been successfully returned to the sender's account.
Processing - This status indicates that the payment is still being processed and has not yet been sent to the end destination.
Cancelled - If the sender cancels a transaction, the payment will be refunded to their goWallet. This status indicates that the payment has been cancelled.
Completed - This status indicates that a withdrawal has been successfully processed and the funds have been transferred to the recipient's account.
Declined - If the recipient declines a payment, the transaction will be marked as declined.
Pending - This status indicates that the payment has been received, but it has not yet been released. The payment will be released once it has been reviewed and approved by the sender.
Withhold - If the payment says withhold, it means that the payment is being held by goLance in escrow and will be paid once the freelancer has submitted the work and the client has approved it.
By understanding these transaction statuses, you can easily keep track of your payments and know exactly what is happening with your money.
If you would like to see specific information in this article that is not already mentioned, please rate the article below and leave your comment
Updated on: 14/03/2023
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