---
title: "Account Statuses and Lifecycle"
slug: "account-currencies"
updated: 2026-07-08T14:08:07Z
published: 2026-07-08T14:08:07Z
canonical: "www.documentation.paynetics.digital/account-currencies"
---

> ## Documentation Index
> Fetch the complete documentation index at: https://www.documentation.paynetics.digital/llms.txt
> Use this file to discover all available pages before exploring further.

# Account Statuses and Lifecycle

### 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.

An **Account** is a payment or e-money account used to hold funds and execute transactions.

Accounts are created under a specific instance and program and are associated with either a user or a merchant. They provide the logical structure under which balances, cards, and transactions are organised.

Common account purposes include:

- executing card payments and transfers
- holding settlement funds
- pre-funding services such as OCT

An account acts as a container for balances rather than holding funds directly.