The article details the steps to monitor the various distribution statuses and failed transaction balances.
Distributions can be processed via ACH or check on our platform. After processing, you can view the payment statuses under the Payments tab > Transactions. These statuses will also be accessible to investors, ensuring complete transparency.
Once transactions are initiated through the platform, ACH payments will first appear as Initiated and will change to Pending within a few seconds, displaying their respective transaction IDs until they are settled.
The payment date will be updated to reflect when the payment has been settled in the investor's bank account.
In contrast, check transactions will show an estimated delivery date and will later display the actual delivery date once the check has been delivered.
Payments made by check will not be deducted from your account until the investor cashes it.
Statuses for ACH Payments:
- Incomplete: Indicates that the investor has not added their preferred ACH method to their profile.
- Initiated: Signifies that the transaction is in the process of being initiated.
- Pending: Means that the transaction has been initiated and is currently undergoing settlement.
- Settled: Indicates that the transaction has been successfully settled in the investor's bank account.
- Failed: Shows that the transaction has failed for various reasons.
Statuses for Check Payments:
- Estimated Delivery: Displays the estimated delivery time for the check.
- Delivered: Indicates that the check has been delivered to the investor's address.
Steps to Take If a Transaction Fails
If a transaction fails, follow these three steps:
-
Identify the Reason and Resolve the Issue
If an investor's transaction fails, hover your cursor over the Failed status under Payments > Transactions to view the reasons for the failure.
-
Transfer the Failed Balance
Any failed payments will be moved to the balance under Payments > Settings > Wallet. You can then transfer the balance back to your bank. -
Retry the Transaction
Attempt the transaction again through the platform by clicking on retry icon under Payments > Transactions > Retry transaction icon.
👤 For questions or help with the process, email us at success@sponsorcloud.io or Schedule a meeting. An experienced Customer Success Manager will reach out to assist you.