What is a pending transaction?
A pending transaction is an approved transaction that has not posted to your account. The amount is deducted from your available balance but is not reflected in your current balance. The pending transactions shown in your online banking transaction history are currently limited to debit card transactions and ACH transactions. Held amounts on deposited checks are also shown as a type of pending transaction. Other types of scheduled transfers or payments not not included. A transaction made with your ATM or debit card using a PIN (personal identification number) is typically processed and posted to your account on the same day that the transaction is made, or on the next business day. A transaction made with your debit card using the “credit” option or that requires a signature may take several business days to post to your account. Pending transactions also include holds applied to certain transactions or your balance, such as transactions from a car rental merchant.
Pending transactions are listed in the order they are received, and are not listed in the order that they will post to your account. If your remaining available balance is not sufficient to cover checks and other debits that post to your account, you may incur overdraft or returned item fees.
What happens when my pending transactions don’t match the actual charges?
In some cases, you may notice that the pending amount of a transaction doesn’t match the actual amount of the transaction. This generally occurs when a merchant initially requests a hold against your available balance to ensure that enough funds will be available for the actual transaction (this is called a pre-authorization). Then when the actual purchase is made, the merchant sends the transaction, and the debit will post for the correct amount within 3 bank business days.
An authorization may also vary from the final purchase amount in situations where there is an estimated authorization amount or a tip is involved.
Example: At a restaurant, an amount is pre-authorized prior to a tip being added. The final purchase amount will include the tip. Some restaurants will estimate a tip amount in the authorization dollar amount; thus your purchase and authorization amount would vary only slightly.
Example: At the gas pump, an amount is pre-authorized prior to dispensing fuel and determining the final amount of the purchase. Many pay-at-the-pump gas purchases are initially authorized for $1 no matter the final purchase amount.
Example: At a hotel, an amount is pre-authorized for the entire stay plus an estimated amount for possible incidentals. This can also be true of cruise lines and car rental companies.
What if I see an error on my pending transaction history?
If you see what appears to be an error on your pending transaction history, please contact us at (800) 449-7728 for pending Debit card transactions or (800) 632-4600 for all other pending transactions, or visit any Provident branch location during regular business hours.
What if my account displays a pending transaction that I did not make?
If you suspect that your transaction is fraudulent please notify us immediately at (800) 449-7728 for pending Debit card transactions or (800) 632-4600 for all other pending transactions.
Will pending transactions appear in my monthly statement?
Pending Transactions will not appear on your monthly statement because they have not yet posted to your account. Your monthly statement will only reflect transactions that have posted to your account within the given month.
What type of transactions will not show as pending?
Your account history page will not list the following types of transactions as pending:
- Outstanding checks and future automatic payments that you have authorized (such as car payments, gym memberships, or other recurring debit card transactions).
- Online orders that have not yet been fulfilled. For example, if an item is backordered, your debit card may not be charged until the item is shipped. This could be several weeks after you made the purchase.
- Bill payments scheduled through Provident's Bill Manager.
When will pending transactions post to my account?
Provident will post transactions to your account the same day that we receive the actual transaction from the merchant. In some cases that actual posting date could be several days after the initial authorization due to a weekend or holiday.
Why are my available and ending balances different?
Your available balance on the "Summary of Balances" page is the most current information regarding the funds you have available for withdrawal, ATM or debit card purchases, or writing checks. This amount reflects the latest balance based on transactions recorded to your account today including deposits, paid checks, withdrawals, and ATM or debit card transactions.
If you make your deposit before the displayed branch, ATM, or e-Deposit cut-off time on a business day, we will credit the deposit to your account the same business day. If you make your deposit after the cut-off time or on a non-business day, we will credit it to your account on the next business day. The first $200 of cash or check deposits will be included the first business day in your available balance; the remaining funds will be added as items are processed and any holds are removed. The ending balance on your statement is your account balance at the end of the last business day. A business day is generally Monday through Friday, except holidays. The ending balance does not include any pending transactions that have occurred since the close of the last business day.
How do my pending transactions impact Courtesy Pay Overdraft, Overdraft Transfer Protection, etc.?
Pending transactions will reduce the amount of funds in your available balance. Your remaining available balance must be sufficient to cover checks and other debits that post to your account, or you may incur charges for Overdraft Transfer Protection, Courtesy Pay Overdraft, or returned item fees.
Can I cancel a transaction that is in pending status?
In most cases, once the transaction is pending it must post to the account before any additional action is possible. The only situation where you might be able to have a pending transaction dropped from an account is if it is an accidental duplicate transaction — two charges with the same authorization number. If that is the case, please contact Provident at (800) 632-4600 for further assistance.
Otherwise, instead of attempting to cancel a pending transaction, you must wait for the transaction to clear and then contact the merchant to request a refund. If accepted, the merchant can then send a request to have the transaction reversed from your account. If the merchant does not agree to a refund and you feel you have a justifiable reason for a refund, such as an undelivered item or an item erroneously described, you can dispute the charge with Provident Credit Union after it posts to cancel the purchase.
Is there any action that I need to take for pending transactions that display in my checking account history?
No, there is usually nothing that you need to do for pending transactions. The pending status in your checking account history is there to notify you funds have been placed on hold, but have not yet transmitted to the merchant. By being aware and reminded of upcoming transactions, you can make sure enough funds are present for the transaction to clear when submitted by the merchant.
In regards to pending transactions, will my account be withdrawn twice, once for the pending amount and then again for the actual total purchase amount?
The amount of the pending debit card transaction is not withdrawn from your account. The pending transaction serves as a notification that your funds have been put on hold, but not yet transmitted to the merchant. In some cases, the pending transaction amount may differ from the actual amount the merchant sends for the transaction (resulting from car rental and gas station pre-authorizations or restaurant gratuities, for instance). Your account will be debited once the total purchase amount is posted. If you see what appears to be an error on your account or if you did not make this debit card purchase, please call us at (800) 449-7728 for pending Debit card transactions or (800) 632-4600 for all other pending transactions, or visit any Provident branch location during regular business hours.
Do pending transaction count towards the Super Reward Checking debit card transaction requirement?
No, pending transactions do not count towards the monthly 10 Visa Debit Card transaction requisite. Only debit card transactions that are made and posted within the statement cycle (ending the second to last business day of the month) count toward the checking account transaction requirement. Ten debit card transactions are one of three requirements necessary to receive dividends and ATM rebates on the Super Reward Checking account.