FAQs
Balance including pending transactions - this is the amount of your own money including any pending transactions outstanding. It doesn't include cheques until they are cleared (for more detail on pending transactions and cheque clearing see below).
How do you explain pending transactions? ›
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.
Are my pending transactions included in my balance? ›
While a transaction is pending, the amount is deducted from your available funds. The account balance is the total amount you have in your account that includes any pending transactions or other amounts yet to clear (e.g. cheques).
How long does it take for a pending balance to clear? ›
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.
Why are my balance and balance including pending different? ›
You may notice a difference between your balance and your available balance. That's because your available balance includes some pending transactions. These could be things you've bought with your debit card that haven't yet been processed.
Is a pending transaction good or bad? ›
A pending transaction is an approved debit or credit to your bank account or credit card that hasn't been processed yet. Essentially, the money is still in transition from one bank to another. Pending transactions may include: Bank account deposits made by check, cash or direct deposit.
What is an example of a pending transaction? ›
Different types of transactions can be pending – for example, a purchase you've made in a shop or online, or a recurring payment for a subscription such as Netflix or Spotify.
How do you resolve a pending transaction? ›
The fastest way to resolve this issue is to contact the merchant directly. If they're able to remove the pending transaction, it should be reflected in your account in about 24 hours. If they're not able to help you, pending transactions will fall off automatically after 7 days.
Is a pending transaction already paid? ›
A pending transaction on your bank account means your bank is processing a purchase you made, a bill you paid, or a deposit that's heading your way, but it hasn't been completed yet. Either the payment hasn't been sent to the vendor yet or the incoming funds haven't cleared, although they are in process.
What is a pending transaction called? ›
This is called an outstanding authorisation and will appear as a pending transaction.
Typically you can't cancel a pending transaction. Even if it's fraudulent or the wrong amount, your bank usually needs the transaction to post before it can next steps. That doesn't mean it's impossible to cancel — you can contact the merchant if there is an error and they can usually reverse it.
Can you close a bank account with pending transactions? ›
If you have any charges or pending payments, you'll need to pay those or wait for the payments to go through before you close your account. You'll also want to make sure all those payments process completely before you close the account.
What to do if you don t recognise a pending transaction? ›
Contact the supplier first to discuss the transaction. Check the business name. Some retailers may operate under a name you may not recognise. For example, Capita are a payment service used for collecting the TV licence.
