![]() The Banking Terms and Conditions (comprising the General Banking Terms and Conditions and relevant Product Schedule) or a PDS are relevant when deciding whether to acquire or hold a product. Consider the relevant disclosure documents, which include Greater Bank's Banking Terms and Conditions for some products, Product Disclosure Statements (PDS) for others and Greater Bank's Financial Services Guide (FSG). Before acting on the advice, consider its appropriateness. General advice on this website has been prepared without taking into account your objectives, financial situation or needs. In some instances, we may authorise your card transaction but the merchant may not process the transaction immediately. If you allow a merchant to use your card for pre-authorised payments, things like a security deposit for a hotel booking or car hire, expect to wait up to 7 days for your available balance to be adjusted. Pending transactions generally take three to five business days to process. If you want to know how much money you have available in your account look at your available funds. The amount marked as pending is deducted from the available funds not your account balance. The transaction amount is then deducted from your available funds and the transaction shows as pending on your account until the payment process is complete. When a transaction is authorised it is confirming to the merchant your card is valid and there’s money in your account to pay for what you’re buying. Here's some information to help you understand pending transactions and the steps to raise a dispute. This can cause some confusion as you may think that a payment hasn’t been successful, or you might have been charged for something twice. Payments, cash withdrawals or deposits can sometimes appear as pending on your account until the transaction is fully processed. The difference may be due to a pending transaction. Have you noticed a difference between your account balance and your available funds? This may take some time, usually between 3 to 5 business days, so please be patient.Pending transactions and how they work What are pending transactions? Once your transaction has been fully processed, the authorization hold will be removed. What do I do about duplicate pending charges?Īuthorization holds will go away after the transaction is processed. If your order is shipped in several packages, each subsequent package will be shipped and charged individually, up to the amount of the authorization.Once your package ships out, your credit card is charged the cost of the items in the shipped package.If your account has enough funds, the bank approves of the authorization.The issuing bank places an authorization hold equal to the cost of the entire order on your account to ensure you have enough funds to pay for the transaction.You swipe a payment card or enter in payment information.When you use a credit card for a transaction, the following steps occur: When you use a credit card to pay for a transaction, your issuing bank places a hold on your account while it checks and sees if you have enough funds to pay for the transaction. You are NOT being double-charged for a single purchase. The duplicate pending charge is usually an authorization hold that is still being processed. ![]() If you see duplicate pending charges on your statement after making a purchase, do not panic.
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