A pending transaction is a recent card transaction that has not yet been fully processed by the merchant. Once the card payment is processed from the sender’s end, the authorisation is sent to the merchant who will either accept or reject the transaction. The transaction authorisation has already been processed by the time the transaction has reached the “pending” status (this will affect your available balance immediately) therefore a pending transaction cannot be frozen or cancelled.
If you wish to discuss a pending transaction which you suspect of being unauthorised please freeze your card using the app and contact us at email@example.com. In the meantime, we would suggest contacting the retailer directly to establish what you have been charged for and if necessary, initiate a refund.
If the pending transaction appears to be unauthorised we would attempt to process a chargeback to recover your funds. Please note that we can only process a chargeback request once the transaction has been processed and an unauthorised dispute claim has been assessed (in adherence with the PSD2 regulations). Therefore we will endeavour to gather additional information about the case in order to strengthen a potential chargeback request in the event of the transaction clearing out of the account.
Why do some transactions pend longer than others?
Once an authorisation has been sent to the merchant, they are required to accept it in order for the transaction to be successful. Some take longer to process and are either accepted or rejected by the merchant. Please note that if the merchant does not accept or reject the transaction within a 7 day period, it will usually automatically expire and the funds will be returned to your available balance.