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What do the different status designations mean?
The different status designations and their definitions are as follows:
- On Hold: The transfer is delayed due to verification in process or failure of verification.
- Completed: The transfer is confirmed. The transfer is reflected in your account balances with your institutions as a withdrawal from your source account and a deposit in your destination account. It is a good idea to verify the transfer with your financial institutions.
- Stopped: The transfer was halted while the transaction was in process.
- Declined: The transfers was refused after review by SunTrust Risk Team.
- Rejected/Failed: SunTrust was unable to remove the funds from the source account or place the funds in your destination account.
- Pending: The transfer has been requested and is awaiting processing.
- Cancelled: The transfer was deleted while the transfer was still pending.
- In Process: The transfer was accepted and the funds are in progress of being delivered to your destination account.
Typical causes of a failed or returned funds transfer request are the following:
- An incorrect account number or bank ABA routing number provided during the account setup.
- A lack of sufficient funds in the source account: If SunTrust receives a return due to non-sufficient funds (NSF) in the source account; SunTrust automatically attempts the transaction a second time. After a second NSF return, a Transfer Funds request is designated unsuccessful. If SunTrust receives a return notice on your transaction, indicating the transfer cannot be completed, SunTrust notifies you by email.