In plain English
It means the money movement is finished, not still in progress. The organizations handling the payer’s side and the payee’s side have completed the transfer, and that result is final.
In context
Here, settled reports that this payment has reached the later stage where the transfer of funds between the payer’s and payee’s financial institutions is complete and final.
- Situation
- Reading card, bank, wallet, authorization, decline, pending, and settlement states
- What it communicates
- labels a later finalization stage in the transaction details.
Meaning limits
By itself, settled does not say how long the transfer took or describe anything beyond the completion and finality of the funds transfer.
Examples
“Even after the money left his account, the rent payment was not settled until the landlord's bank had the funds and the transfer was final.”
“Our records showed the bank transfer as settled by the end of the day.”