When approved invoices are scheduled to be paid, Borderless sends payment instructions to our payment partners, and they process in order of queue from all of their clients. This means Borderless cannot control the exact timing of all payments.
To provide more visibility into payment timelines, each invoice has an accompanying payment status that updates automatically. The five payment statuses are defined as follows:
- Pending: Payment is awaiting authorization to process payment
- Authorized: Payment has been approved for processing
- Processing: Borderless has sent payment instructions to our partner, and your payment is in their queue for processing.
- In Transit: Partner received an update that the payment was successfully sent to the bank
- Paid: Partner received an update that the payment was successfully received by the bank
- Returned: The receiving bank has rejected and returned the payment
Please note Borderless' payment partners mark a payment as "In Transit" according to the receiving bank's standards and processes. There are some instances where a bank will receive the payment but may not immediately credit the bank account.
For example, all USD transfers going to bank accounts in the US can take up to 2 business days to be credited to the account. This is because the US banking system does not provide instant confirmation of transfer completion. Nevertheless, most banks will still credit the payment within those 2 days.
What To Do If Your Payment is Returned
In some instances, a payment is rejected from the receiving bank and returned to Borderless. Reasons are typically due to incorrect banking details or an issue at the bank. The team at Borderless will always provide help and guidance to make sure payment is made successfully, so always reach out for help at support@hireborderless.com.