Relax, there's no need to worry! What you're seeing is usually a "pending" charge that is on hold by the bank. Here's what you need to know:
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Pending Charges: These are temporary authorizations placed on your account by the bank. They typically occur when a merchant requests verification that funds are available, but the transaction has not yet been fully processed.
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Bank Processing Times: Some banks can take up to 10 business days (some take up to 30 days 😕) to remove the pending status on your card. This delay can be due to various internal processing times and cut-off periods.
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No Final Charge: Rest assured, this amount will not show up on your final bank statement, and you won’t be billed for it. The pending charge will eventually disappear on its own.
Financial institutions use these pending charges as a security measure to ensure that funds are available and to prevent potential fraud.
If you have any concerns or if the pending charge remains after 10 business days, feel free to reach out to us, and we’ll be happy to assist you further!