Status Definitions For Payment Requests
A request for payment has been sent to a Buyer/Tenant Agent to connect a Buyer, or a Tenant, for payment.
A request for payment has been sent to the Buyer or Tenant, either directly, or through a Buyer/Tenant agent.
All parties have completed required actions. Payment will be in the next ACH batch at approximately 5PM ET each business day.
Funds have left the payer’s bank account and are en route to the destination bank account.
Funds have reached the destination bank account and two banking days must pass for the payment to be confirmed as Cleared for withdrawal.
Funds are available for withdrawal.
The payer did not make the payment before the deadline set by the agent who initiated the request. The agent must login and set a new deadline to resend the request.
The payer’s bank returned an ACH failure code and the payment did not go through.
The funds are being held in the company's Rental Wallet, and can be returned to the sender or forwarded to the final recipient when ready.
Funds have been returned to the sender’s bank account.
An Admin has sent a payment for acceptance by a named recipient.
Status Definitions That ONLY Apply To Redirected Payments
A redirected payment is a payment that is requested from a buyer or a tenant and redirected to a 3rd party such as a landlord, listing company, escrow holder, attorney, etc.
Buyer or Tenant has connected a bank account and authorized a payment be sent to a 3rd party (Landlord, Escrow Holder, etc.). Payment will not change to Pending until the receiving party accepts the payment and the agent/admin who initiated the request approves the payment has been accepted by the correct party.
Accepted / Needs Approval
The party accepting the redirected payment has connected their bank account to accept the payment and the agent/admin who initiated the request must now login to approve the transfer. Payments in a Needs Approval status will be approved at 9 AM EST after being in Needs Approval for 48 hours.
The initiating agent/admin has approved the payment has been accepted by the correct party and the payment is now Pending.
Next Day/Same Day
Payment under $100,000 made before 5PM ET on Monday
Tuesday Between 4PM-6PM ET
Payment between $100,001- $250,000 made before 5PM ET on Monday
Payments can be requested through DepositLink 24x7x365, however, funds only move through the transfer process Monday through Friday (non-holidays). Payments can be canceled by payers, agents, or admins prior to being batched at 5PM ET each business day. Payments can only be refunded by an approved company admin. Company admins are notified when a failed payment occurs and any payment fronted by Dwolla will be clawed back.
