Customer status
| Status | Description |
|---|---|
| PENDING_APPROVAL | This is the initial state when a customer enters the onboarding phase. This means that the application is under evaluation or the customer has not yet completed all required onboarding steps. It can be “Withdrawn” by the client at this stage |
| REFERRED | The evaluation has concluded and the customer has failed one or more the of the steps such as provided an invalid ID or flagged as a PEP. Shaype would look to resolve dispute with the customer. |
| REJECTED | The onboarding evaluation has concluded that Shaype cannot open an account for the user as a result of the information provided. |
| ACTIVE | Active account with no restrictions. Once the client makes any transaction (deposit, withdrawal or transfer) on the account, it will become “Active”. |
| BLOCKED | Active account has been Blocked by Shaype as a result of a security alert. Shaype will work with the customer to resolve or make the account Inactive if appropriate. The account cannot be accessed by the customer or used to make transactions/transfers in this state. |
| INACTIVE | An account that has been closed and is no longer accessible by the customer without going through the process of re-opening the account. Records will be stored for security for the appropriate timeframe. |
Points to Note
- An account can only be opened if the customer is in
ACTIVEstatus.- Closing all the accounts for a customer using Closes an Account will also change the customer status to
INACTIVE
Updated 8 months ago