Three stages to check
- Assessment: checks are completed and the creditor makes a decision.
- Acceptance and processing: the agreement is accepted and any required steps are completed.
- Bank credit: the bank processes the transfer and funds become available.
What can affect timing?
Incomplete information, bank-account checks, acceptance timing, bank processing, weekends and public holidays can affect a payout. Do not make a purchase or payment commitment on the assumption of immediate availability.
If you expected a payout
Check the application messages and the bank account you provided. Ask the creditor whether the transfer was instructed and what reference is available. Do not pay an individual to “unlock” or accelerate a transfer.
No release payments
A person asking for an upfront loan-release payment may be attempting fraud. Use the security checklist before responding.