the payment cleared

USAGE SUMMARY

The phrase "the payment cleared" is correct and usable in written English.
It can be used in financial contexts to indicate that a payment has been successfully processed and the funds are available. Example: "I checked my account, and I'm happy to report that the payment cleared this morning."

✓ Grammatically correct

News & Media

Science

Academia

Human-verified similar examples from authoritative sources

Similar Expressions

60 human-written examples

Require payment (with a refundable security deposit) well in advance to make sure the payment clears.

Forbes

Next will be a brand new Lamborghini Gallardo for $209,000, or 216.8 bitcoins, to someone in Missouri, assuming the payment clears.

Los Angeles Times

Sandra Quinn, from the payments clearing body Apacs, agrees that it's easy to see why consumers have been concerned.

The Guardian - Money

Instead of connecting a Square account to a bank account, and then waiting a few days while the ACH payment cleared to have access to the money, the Square user could swipe a card, like a debit card or prepaid card, and have the money from their Square account immediately transferred and made available for use.

TechCrunch

Ideally, he said, the government would also streamline the payment clearing process so that vendors on various agency Web sites could clear payments electronically through one source, instead of several.

The New York Times

As such, blockchains could revolutionize the underlying technology of the payment clearing and credit information systems in banks, thus upgrading and transforming them.

Financial Innovation

Their account then stays overdrawn by that amount for a month until their next salary payment clears the debt.

The Guardian - Money

Blockchains are decentralized and permissionless, which can lead to major disruptions in the financial sector, especially in payment clearing.

Financial Innovation

Because the account is credited upon receipt of payment, cash advances can be immediately drawn against the credit card before the payment has cleared.

Britannica

I recently had my home phone disconnected by a phone provider because the company could not find any record of an electronic payment made via Paytrust, even though Paytrust paid the bill on time and my bank's Web site showed that the payment had cleared.

The New York Times - Tech

In a statement, Standard Chartered said: "We are aware that two payments cleared by Standard Chartered are mentioned in the indictment.

Independent

Expert writing Tips

Best practice

When writing about financial transactions, ensure clarity by specifying the date and method of payment. For example: "The payment cleared on July 22nd via ACH transfer."

Common error

Avoid using "the payment cleared" when you actually mean "the payment is due" or "the payment is pending". "Cleared" indicates a completed transaction.

Linguistic Context

The phrase "the payment cleared" functions as a statement indicating the successful completion of a financial transaction. It asserts that funds have been successfully processed and are available. As confirmed by Ludwig AI, the phrase is grammatically correct and commonly used.

Expression frequency: Common

Frequent in

News & Media

50%

Academia

30%

Science

20%

Less common in

Encyclopedias

0%

Formal & Business

0%

Wiki

0%

Ludwig's WRAP-UP

In summary, the phrase "the payment cleared" is a grammatically correct and frequently used expression to indicate that a financial transaction has been successfully completed. As Ludwig AI confirms, it's suitable for various contexts, particularly in news, academia, and science. When using this phrase, ensure you are referring to a transaction that has been fully processed, differentiating it from pending or overdue payments. Alternatives such as "the payment was processed" or "the transaction went through" can also be used to convey a similar meaning.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

the payment was processed

Focuses on the action of processing rather than the result of clearing.

the transaction went through

Emphasizes the successful completion of a transaction.

the funds were successfully transferred

Highlights the movement of funds from one account to another.

the remittance was successful

Specifically refers to the success of a remittance payment.

the balance was settled

Indicates the completion of a financial obligation.

the money was received

Focuses on the recipient's perspective of getting the money.

the payment was authorized

Highlights the approval stage of the payment.

the transfer was completed

Emphasizes the end of the transfer process.

the transaction was validated

Focuses on the verification of the transaction.

the payment was approved

Highlights the approval of the payment.

FAQs

What does it mean when a payment has cleared?

When a payment has cleared, it means the funds have been successfully transferred from the payer's account to the payee's account and are available for use. It signifies the completion of the transaction.

How long does it typically take for a payment to clear?

The time it takes for a payment to clear can vary depending on the payment method. Electronic transfers and checks may take several business days, while some digital payment methods might clear instantly.

What can I say instead of "the payment cleared"?

You can use alternatives like "the payment was processed", "the transaction went through", or "the funds were successfully transferred" depending on the context.

What happens if a payment doesn't clear?

If a payment doesn't clear, it could be due to insufficient funds, incorrect account details, or other issues. The transaction will be rejected, and the payer may need to use an alternative payment method or resolve the issue with their bank.