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Payment initiation is a type of payment method facilitated by open banking. Put simply, it involves customers allowing third-parties to connect to their banks and authorise payments directly from their bank account.

Put simply, a payment initiation is conducted when a customer allows a licensed third-party provider (TPP) to execute a payment via direct bank transfer from their bank account. To use this type of payment, the customer must give the TPP consent to use their bank details.

This status will appear when you make a transaction but Open hasn't received a response from the partner bank about the current status of the transaction. In such cases, it is recommended to check with the recipient if the payment has been received.

Banks are required to make direct-deposit funds available for withdrawal not later than the business day after the banking day on which the bank received the electronic payment. For instance, funds direct deposited on a regular, non-holiday Monday would be available by Tuesday.

Payment Initiator means an approved payment service provider who, whether acting on behalf of you or a Merchant, is authorised by you to initiate payments from your Account.

A payment can receive one of the following statuses: Initialized : When you first Create a Payment, this would be your Payment's initial status. You can see it in your request's response after invoking the Create Payment request under the status field.

customer initiated deposits means any deposits made by or at your request. Examples include a deposit of money by way of salary, pension or cheque.

Generally, it takes two to four business days for payments to be processed from the customer's card, through the bank and to your account. This means if you process a payment on Friday, you'll receive the funds on Tuesday.

Payment initiation is a type of payment method facilitated by open banking. Put simply, it involves customers allowing third-parties to connect to their banks and authorise payments directly from their bank account.

Put simply, a payment initiation is conducted when a customer allows a licensed third-party provider (TPP) to execute a payment via direct bank transfer from their bank account. To use this type of payment, the customer must give the TPP consent to use their bank details.

This status will appear when you make a transaction but Open hasn't received a response from the partner bank about the current status of the transaction. In such cases, it is recommended to check with the recipient if the payment has been received.

Banks are required to make direct-deposit funds available for withdrawal not later than the business day after the banking day on which the bank received the electronic payment. For instance, funds direct deposited on a regular, non-holiday Monday would be available by Tuesday.

Payment Initiator means an approved payment service provider who, whether acting on behalf of you or a Merchant, is authorised by you to initiate payments from your Account.

A payment can receive one of the following statuses: Initialized : When you first Create a Payment, this would be your Payment's initial status. You can see it in your request's response after invoking the Create Payment request under the status field.

customer initiated deposits means any deposits made by or at your request. Examples include a deposit of money by way of salary, pension or cheque.

Generally, it takes two to four business days for payments to be processed from the customer's card, through the bank and to your account. This means if you process a payment on Friday, you'll receive the funds on Tuesday.