Life Cycle
Learn about the different statuses a virtual accounts used as collection wallets can have during its life cycle.
The figure below shows the life cycle of a collection wallet.
Collection Wallet Life Cycle
The table below lists the various statuses a collection wallet can have during its life cycle.
| Status | Description |
|---|---|
| Full KYC Pending ( full_kyc_pending) | Create a virtual account used as the collection wallet API is successfully triggered. Once this status is acquired, you must submit the KYC details of your applicants to the ZWITCH KYC Team from your registered email address. Note: For information about the KYC documents required to create a virtual account used as transfer wallets for different companies and business types, please consult our ZWITCH KYC Team. |
| VPA Creation Pending ( vpa_creation_pending) | A collection wallet has been successfully created, and the account number and account IFSC have been issued. However, the VPA handle for the account has not yet been activated by the bank. A virtual account used as a collection wallet goes to this status only if the create_vpa parameter is set to true. |
| Active ( active) | A collection wallet and VPA handle have been successfully created. |
| Deactivated ( deactivated) | The collection wallet has been deactivated. This is a terminal status. Once deactivated, the collection wallet cannot be activated again. |
Updated 8 months ago