A payment from an iBanFirst account can go through different statuses before being processed and sent to its beneficiary. Here is a description of the main payment statuses and the actions required for the payment to be processed as quickly as possible. The statuses detailed in this article are:

  • Awaiting Funds
  • Pending Signature
  • Signed
  • Pending Finalization
  • Pending Dealing

Awaiting Funds

When an operation is awaiting funds, it means its processing is suspended because there are not enough funds on your accounts:

  • Option 1: There are not enough funds on the account to be debited for the payment (i.e: making a $15,000 payment from a USD account with a balance of $10,000)
  • Option 2: One or more of your accounts have a negative balance (i.e: making a $15,000 payment while your EUR account has a -500€ balance)

On the page of the detail of the payment, a banner details the reason for suspending the payment processing:

If one or more of your accounts have a negative balance, a reminder will be displayed on your dashboard as well.

Actions required to process the payment

In order for the payment to be processed, the account(s) awaiting funds must be credited. 

  • If your main account is awaiting funds, you can credit your account with a bank transfer or SEPA direct debit (see : Crediting an iBanFirst account).
  • If one of your other currency accounts is awaiting funds, you can credit your account with a currency conversion.

When the relevant account(s) is(are) credited, your payment will be unlocked within a few minutes and will be processed. 

Pending Signature

When an operation is pending signature, it means that another user from your company account must sign the operation. This other user must have signature rights.

To sign the operation, you should go to the operation's page, and click on the "sign payment" button on the top-right corner of the page.

After a payment is signed, it cannot be modified - only the exchange rate, in the case of an FX payment, will be updated at the finalization.

Signed

After a payment is signed, it needs to be finalized before it is processed by our system and sent - it has the status "Signed".

To finalize the payment, you should go to the payment page, and click on the "finalise payment" button on the top-right corner of the page.

At the payment finalization, you will be able to validate the final exchange rate for your operation.

Your payment will then be processed by our teams and sent.

Pending Finalization

When creating a payment, the user has the possibility to save it and complete it later. A payment that has been saved is "Pending Finalization".

To finalize the payment, you should go to the payment page, and click on the "finalise payment" button on the top-right corner of the page.

At the payment finalization, you will be able to validate the final exchange rate for your operation.

Your payment will then be processed by our teams and sent.

Pending Dealing

When an operation is "Pending Dealing", it means that it is pending processing from our dealing teams. There is no action to do on your side.

Your operation should be processed within a few minutes. Our dealing team will call you if you chose the call-back option at the final step of your operation. If you chose the no-call-back option, they will process your operation as soon as possible.

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