Outgoing payments
Payment statuses
Every payment goes through certain stages before it is paid out from your Volt Account or Named Account. These stages are displayed at the top of the details section within the dashboard when viewing individual customer payments, as well as being notified via webhook.
Understanding the status life cycle is essential for accurate reconciliation and reliable system integration.
| Status | Description |
|---|---|
| CREATED | The payment request has been created on the Volt platform but is not yet submitted to the external banking system for processing.Note that some EUR and GBP payments may require additional approval following account holder verification before they can be submitted to the bank. |
| PROCESSING | The payment has received all mandatory approvals (such as AHI or SCA checks) and is currently being processed by our internal system. The payment has not yet been submitted to the external banking system. |
| COMPLETED | The payment request has been submitted to the external banking system and is currently being handled by the payment scheme (e.g., SEPA, Faster Payments, or SWIFT). This status means the payment has left the Volt platform. Volt cannot guarantee when the money will be received by the beneficiary, as this depends on multiple factors such as the payment scheme and its settlement windows, public holidays, or money holds that the receiving bank may apply. |
| REJECTED | The payment was rejected by the external banking system or the beneficiary's bank. This is a final, failed status. The reason for rejection (e.g., invalid IBAN, account closed) will be provided in the corresponding webhook notification. |
Rejection codes
Detailed codes provided when a payment is rejected after initiation.
| Rejection code | Description |
|---|---|
| PROCESSING_ERROR | The outgoing payment failed due to an internal or unexpected processing error. |
| TRANSACTION_APPROVAL_TIMEOUT | The outgoing payment was not approved within the required time window and therefore expired. |
| TRANSACTION_REJECTED_BY_USER | The outgoing payment was rejected by the user during the required SCA step. |
| TRANSACTION_REJECTED_BY_BANKING_PROVIDER | The outgoing payment was rejected by the banking or payment service provider. |
| TRANSACTION_REJECTED | The outgoing payment was rejected by Volt. |
| TRANSACTION_BENEFICIARY_CHECK_REJECTED | The outgoing payment was rejected by Close Loop beneficiary check. |
| ACCOUNT_HOLDER_VERIFICATION_REJECTED | The outgoing payment failed because the account holder verification was unsuccessful. |
| ACCOUNT_INSUFFICIENT_FUNDS | The outgoing payment failed because the source account did not have sufficient funds. |
| ACCOUNT_NOT_OPERATIONAL | The outgoing payment failed because the account is deactivated, closed or not enabled for outgoing transactions. |
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