Ask Arvest

Ask us questions about banking with Arvest
Example Question: What is my routing number?
Example Keyword: routing number
Top Question:
What does pending mean on my account transaction history?
Best Answer:

When a purchase is made with your debit card, the merchant notifies the bank of the transaction and the amount is deducted from the account balance and is shown in Online Banking and Mobile Banking as a pending debit.   The pending debit will remain until the merchant submits the transaction for final payment.  At this time, the transaction becomes final and no longer will show as a pending debit.

Example: Customer makes a purchase at the grocery store for $63.57 on a Monday which is electronically transmitted to the bank.  The transaction will appear on the customer’s account as a pending debit and the amount is deducted from their account balance.  The grocery store submits the final request for payment of the funds two days later.  At this time, the pending debit becomes final.

What happens if the merchant does not claim payment within 3 business days?

A pending debit will remain in place for a maximum of 3 business days and will change to an actual debit once the merchant claims the final payment from the bank.  If during that 3 business day period the merchant has not submitted for final payment, the pending debit will drop off of the account and the transaction will not be visible, nor will be deducted from the account balance.  When the merchant does claim the final payment after that period, the charge will then be deducted from the account as a final debit.  Most pending debit transactions are claimed by the merchant within the 3 business day time period.

Example: Customer makes a purchase at the movies for $18.29 on a Tuesday which is electronically transmitted to the bank.  The transaction will appear on the customer’s account as a pending debit and the amount is deducted from their balance.  More than three business days pass with no payment request from the merchant, so the pending debit is no longer held on the account and the $18.29 is no longer deducted.  The movie theater submits the request for payment of the funds five business days later and at that time the $18.29 is deducted from the account.

If you have a question about a specific transaction on your account, please visit a nearby branch location or call (866) 952-9523 for personal assistance.

 

Please rate this response

Click on a star to rate