Account Statuses
Accounts can exist in one of the following states.
Active
Accounts are active by default upon creation.
Active accounts:
can be credited and debited,
can have cards issued and linked,
support internal and external transfers.
Blocked
Blocked accounts are restricted.
debits are not permitted,
credits may be permitted depending on the reason for blocking,
cards linked to a blocked account are also blocked.
Blocking is reversible. All virtual accounts linked to a blocked payment account are blocked as well.
Closed
Closed accounts:
cannot be credited or debited,
cannot be reactivated.
If a payment account is closed:
any linked cards are destroyed,
all linked virtual accounts are closed.
Closure is irreversible.
Status Changes and Restrictions
Account status changes are governed by the terms and conditions agreed during onboarding.
Paynetics may block or close an account without prior notice where required, including situations where:
there are security concerns,
unauthorised, unlawful, or fraudulent use is suspected,
regulatory or legal obligations require action,
the partnership is terminated,
material contractual breaches occur,
the end customer has requested account closure directly.