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A pending transaction on your bank account means that a transaction has been approved but hasn’t been processed. Perhaps a merchant has accepted your debit card as payment but the funds haven’t yet transferred from your account to the merchant’s account. Or maybe you deposited a check but your bank is still in the process of making sure the funds are available from the issuing bank.
Usually, your bank takes a few business days to resolve the pending transaction and post it to your account. However, it’s important to remember that pending debits are subtracted from your available balance even if they have not yet been posted. A pending credit, on the other hand, will not appear in your available balance until it’s fully cleared.
Understanding how pending transactions work, why they occur, and how they affect your account balance is important for managing your finances responsibly. Here’s what you need to know.
Key Points
- A pending transaction on a bank account means a transaction is in progress but hasn’t been fully processed yet.
- Pending transactions can include purchases, bill payments, or deposits that are awaiting completion by the bank.
- Banks typically take a few business days to resolve pending transactions and post them to the account.
- Pending transactions affect the amount of money available for use in your bank account.
- It may be possible to cancel a pending transaction but you need to act quickly.
What Is a Pending Transaction?
A pending transaction on your bank account refers to a transaction that has been authorized but not yet fully processed and settled by the bank. It essentially means the money has been committed to a purchase or transfer but hasn’t been officially debited or credited to your checking account just yet.
For example, when you purchase a good or service by using your debit card, the transaction may immediately show up as pending when you view your account online or in a mobile banking app. This indicates that your debit card was accepted but the money is still in transition from one bank to another. Once the business receives payment, the transaction goes from pending to posted.
Likewise, pending deposits happen when the funds from another account haven’t been released to your bank account yet. However, they appear pending to let you know funds are processing and should be deposited soon. This could reflect a check you deposited or perhaps a direct deposit that you set up.
Pending Transaction vs Posted Transaction
Understanding the difference between a pending transaction and a posted transaction is critical for effective money management. Here’s how they differ:
- Pending transaction: This is a temporary status indicating that a transaction is still in process. It shows that your bank is aware of the transaction but hasn’t fully completed it. The funds for a payment or purchase may still be in your account, but they’re not accessible.
- Posted transaction: Once the transaction has been processed and finalized, it becomes “posted.” At this point, the transaction is officially recorded in your account history, and the money has either been deducted (for purchases or withdrawals) or added (for deposits).
For example, if you buy groceries for $60 with your debit card, your account may immediately show a $60 pending transaction. However, it may take a day or two before it becomes a posted transaction and is permanently deducted from your account balance.
How Long Does a Transaction Stay Pending?
A transaction can stay pending anywhere from a few hours or to several business days, and possibly longer. The exact timing depends on the type of transaction, the merchant’s processing speed, and whether the transaction occurred on a weekday or weekend/holiday.
Here are some typical timelines you can expect:
- Debit card transactions: 1 business day
- Online payments: 1 to 5 business days
- Check deposits: 1 to 2 business days
- Direct deposits: 1 business day
What Causes a Transaction to Stay Pending?
A transaction can stay pending for various reasons:
- Merchant delay in finalizing: Many businesses (especially gas stations, hotels, and restaurants) place a temporary authorization hold on your funds. They might take a day or more to finalize or settle the actual charge, especially if they are adjusting for things like tips or room charges.
- Check deposits: To process a check, your financial institution must obtain funds from the payer’s account. If the account is at a different bank, the check usually goes to a clearinghouse for handling. This process can take one or two days to complete. Your bank may place a longer hold on a check if the check is for a large amount, your account is less than 30 days old, or there is a suspicion of fraud.
- Online purchases: E-commerce platforms may place a hold when you order but only finalize it when the item ships, keeping the transaction pending in the meantime.
- Non-business days: Transactions made on weekends or holidays often don’t post until the next business day or later.
How Does a Pending Transaction Impact Your Account Balance?
Although a pending transaction on your bank account means the vendor hasn’t received payment yet or the funds for the deposit are not cleared, it still influences your account balance.
A pending debit will be reflected in your available balance. This is key because it prevents you from spending money that is already committed elsewhere, helping you avoid overdraft and non-sufficient fund (NSF) fees.
A pending deposit will be reflected in your account’s current balance but won’t be included in your available balance, since the money is not yet available to spend.
Pending Transaction Examples
Let’s walk through a few everyday examples to illustrate how pending transactions work in different situations:
- Debit card purchase: You buy a $400 espresso machine and the merchant initiates a hold with your bank account. This transaction reduces your available balance by $400 but doesn’t impact your current balance. The next day, the pending transaction has posted and your current balance now matches your available balance.
- Hotel authorization hold: You check into a hotel that places a $150 hold on your card for incidentals. The pending transaction appears in your account. When you check out three days later, you didn’t use any incidentals, so only the room fee of $300 posts — and the $150 hold is released.
- Mobile deposit: You use your bank’s app to make a mobile deposit of a $500 check. The bank places a hold on the funds, and the transaction is marked pending. Two days later, the check clears and the funds are officially posted to your account.
These examples highlight why it’s important to pay attention to the available balance in your account, as this reflects both cleared and pending transactions.
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Can You Cancel a Pending Transaction?
In most cases, you cannot cancel a pending transaction once it has been initiated. This is because the transaction is already in the process of being authorized and settled. However, there are a few exceptions and actions you can consider:
- Contact the merchant right away: You may be able to cancel a pending debit card purchase by reaching out to the seller and asking them to cancel the sale. But timing is key: You generally need to do this before the pending charge posts or before they’ve shipped the item.
- Dispute the charge: If a transaction has already posted but there is an error (such as an amount that doesn’t match your records or two charges instead of one), start by asking the merchant to refund any overpayments. If the seller is not responsive, you can initiate a dispute with your bank. Banks typically have procedures in place for chargebacks and transaction disputes.
- Report fraud to your bank: If the pending transaction is unauthorized or fraudulent, you’ll want to contact your bank immediately. Most banks have protocols to stop or flag transactions before they post and will investigate to potentially reverse the charge.
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The Takeaway
Pending transactions are a normal and essential part of modern banking, serving as placeholders while your bank verifies and processes transactions. They represent funds that are spoken for but not yet fully moved.
While they’re often temporary, pending transactions can affect your available balance, making it important to track your spending closely. Failing to account for these holds can result in overdrafts or declined transactions.
Being aware of how pending transactions work can help you avoid financial hiccups and give you more confidence in managing your day-to-day banking activities.
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FAQ
Are pending transactions already deducted from my account?
Yes, once a pending transaction appears on your bank account, the amount is deducted from your available balance. As a result, you don’t have to wait for the transaction to post to see how the purchase impacts your bank account.
What do I do if my transaction is pending?
If a transaction is pending, you typically don’t need to take immediate action. Pending charges often resolve automatically within a few business days. However, if a transaction appears incorrect, duplicated, or unauthorized, you’ll want to contact your merchant and/or your bank right away to report the issue.
Can pending transactions be declined?
Yes, pending transactions can be declined, though it’s not common. A transaction may be declined during the pending stage if the merchant cancels it. A bank may also decline a pending debit transaction if the amount exceeds your available funds. In addition, a bank might cancel a pending check deposit if the check turns out to be fraudulent.
About the author
Ashley Kilroy
Ashley Kilroy is a seasoned personal finance writer with 15 years of experience simplifying complex concepts for individuals seeking financial security. Her expertise has shined through in well-known publications like Rolling Stone, Forbes, SmartAsset, and Money Talks News. Read full bio.
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