This article outlines the various statuses a mandate can have throughout its lifecycle, from creation to completion or cancellation. This will help track the progress of mandates and identify any potential issues.
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Below are detailed explanations of mandate statuses:
Initiated: The mandate has been created but not yet authorized.
Awaiting Authorization: The mandate is created and pending authorization from the user via the widget.
Authorized: The mandate has been sent to the bank for approval.
Approved: The transfer has been completed successfully, and the mandate is approved.
Rejected: The bank has rejected the mandate. This could be due to a discrepancy in information or signature.
Suspended: The mandate has been temporarily paused by the business.
Cancelled: The mandate has been cancelled by the business or due to an issue such as a failed transfer or NIBSS downtime preventing approval.