Account status is utilised across different endpoints to control user access and interaction with the system.
CLOSED: This status indicates that the account is no longer active, and the user cannot perform any transactions or access any features.
ACTIVE: This status represents an account that is currently operative - can send and receive funds. Users can perform transactions, access features, and utilise the account.
PENDING: This status signifies that the account is in a waiting state, usually during account creation. Users cannot perform transactions or access certain features until the account is approved and becomes active.
HIDE: This status allows to hide an account from the dashboard and other areas of the user interface. However, the account remains active, and users can still perform transactions.
QUARANTINE: This status indicates that the account is under review or investigation, usually due to suspicious activity or policy violations. Users cannot access the account or perform transactions until the issue is resolved.
FAILED: This status implies that an account creation or update has failed, typically due to invalid information or errors during processing. Users cannot access the account or perform any actions until the issue is resolved.
Account Statuses related to Lending
Loan Statuses
Pending to be funded: The loan application has been approved, but the funds have not yet been disbursed to the borrower.
Funded: The loan has been approved, and the funds have been disbursed to the borrower.
Repaid: The borrower has paid off the loan in full
Defaulted: The borrower has failed to make the required loan payments, resulting in a breach of the loan agreement.
Written-off: The lender has decided to write off the loan.
Partially repaid: The borrower has made some payments towards the loan but has not yet repaid it in full.
Lending Request Statuses:
Created: The loan request has been initiated by the borrower but has not yet been submitted.
Submitted: The borrower has completed and submitted the loan request to the lender for consideration.
Approved: The lender has approved the loan request.
Rejected: The lender has declined the loan request.
More Information required: The lender needs additional details from the borrower to proceed with the loan request assessment.
Cancelled: The borrower has withdrawn their loan request.
Expired: The loan request has expired.
Offer Provided: The lender has provided a loan offer to the borrower.