Payment Pending (2024)

FAQs

What does it mean if a payment is pending? ›

What's a pending transaction? Pending transactions are transactions that haven't been fully processed yet. For example, if you make a purchase with a debit card or credit card, it will almost always show as pending immediately when you view your account online or in a mobile banking app.

Pending transactions typically take between 5 and 7 business days to process but some pending transactions, typically those related to estimated and incremental authorisations, can take 16 days or longer.

Does 'pending' mean the money has already been taken from your account? A pending transaction means it's authorised and being processed. While the amount charged is taken from your available funds, it won't be reflected in your account balance until processed.

How long do pending transactions take to clear? Many pending charges disappear in around 5 days or less. Though some institutions may have a longer period. It ultimately depends on the type of transaction, the processor settings for the credit card program, and what's stated in your agreement.

A pending balance often occurs when you use your debit card – your bank is aware of the transaction, but the merchant may not submit the charge for payment until the end of the business day, leaving it in a pending status.

A pending charge, also known as a 'hold', is an approved transaction that your issuer has yet to post to your account balance. This may be because a merchant wants to check you have enough funds available or you made the transaction outside of your issuer's business hours.

How long do pending transactions take to clear? Pending transactions generally take between one and five business days to clear. That time can vary based on the type of transaction, the payment network, and the bank or credit card issuer.

Until it processes, a pending transaction could put a hold on an account balance or credit limit. That doesn't necessarily mean you can't use your credit card or bank account. But it can affect your available balance—or the funds you're able to access.

That's because the retailer still needs to process and complete the payment. So, it may look like you've got more money to hand than you really do. To avoid confusion, banks often provide an 'available balance' or 'balance after pending transactions' too.

A pending credit card purchase might be declined if another merchant has placed a hold on your credit card. A pending purchase made with your bank account or credit card could be declined if your account doesn't have enough funds or the merchant won't accept payment from your bank.

How long do pending funds take to clear? ›

Generally it takes about 3 to 5 business days to process a transaction, although it can take up to 10 business days or longer.

A pending transaction will affect the amount of credit or funds you have available, effectively deducting money from your account. Canceling a pending transaction usually requires contacting the merchant who made the charge. Once a pending transaction has posted, contact your bank or card issuer to dispute it.

Typically, they will mark it as pending payment (or payment pending). This means that they are ringfencing the account holder's funds on the expectation that they will need to make payment later. Once the payment request is presented, the bank will release the funds. This is, however, not always the end of the story.

pending. adjective [ not gradable ] /ˈpen·dɪŋ/ about to happen or waiting to happen: His application for citizenship was still pending.

How Long Does it Take to Get the Money with a Pending Direct Deposit? Depending on the kind of payment, a pending direct deposit status can last for just a few hours or up to several days. Usually, the direct deposit process is fast and efficient.

Pending transactions generally take between one and five business days to clear. That time can vary based on the type of transaction, the payment network, and the bank or credit card issuer.

What happens if a pending transaction doesn't go through? Your bank may remove a pending transaction from your account summary if it hasn't cleared after a certain time. In this case, it'll no longer appear in your list of pending payments and shouldn't affect your available balance.

A bank can have a pending transaction for up to seven business days. However, most transactions get cleared within three business days. You can contact your bank about the pending transaction if you want to learn more about its status.