Bank Accounts

A bank account is a payment method used to collect funds from customers or send payouts to customers, merchants, and vendors via ACH or instant transfer rails.

Statuses

Credova uses a status field on every bank account to specify whether it can currently be used for payments and payouts.

Status	Description
pending	The bank account has not yet been verified.
verified	The bank account has been verified and can be used for payments and payouts.
invalid	The bank account's details are no longer valid.
closed	The bank account has been closed and can no longer send or receive funds.

When a payment or payout to a bank account is declined, the linked bank account's status may automatically update depending on the decline. Check the bank account's status after the decline before retrying to use the same bank account.