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Wells fargo "pending Transaction?"?

Credit Card Debt discussions & tips

Wells fargo "pending Transaction?"?

Postby bramm » Fri Mar 30, 2012 2:02 pm

Okay so Friday I had $181 in my checking account. I had lunch with some family members, went shopping, and had dinner with some friends. I have 5 "pending transactions" from using my debit card from those activities. My question is, since I have like 40 bucks left in my account, has the money already been taken out and I actually really do have 40 bucks left or will more than i have in my account be taken out in a couple days and i'll be screwed and have a negative balance and have to pay the overdraft crap?
bramm
 
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Wells fargo "pending Transaction?"?

Postby cas » Fri Mar 30, 2012 2:07 pm

When you look at your account, are all those transactions you did on Friday showing up as the pending transactions?
As for the money being taken out... it *technically* has not been taken out yet. It's still in a pending status; meaning it hasn't hard posted yet to your account. Those will, generally, hard post during the processing times which is between midnight and 8am. When it comes to spending money after a certain time on Friday and the weekends, processing doesn't take place until Monday night. But, the money has been placed on hold, it *has* been taken out of balance but it isn't really out yet.
A good way to really keep track of your account, since not everything posts at the same time is the old paper and pen. It's a kind of out dated ritual but it serves it's purpose.
Online banking doesn't track what checks you've written until they are collected. Online banking does not show your automated debits out until they post. And not everything posts, at the same time, when you use your debit card as a debit card (you use the pin number). It also all depends on when you use. As not only do banks "cut-over" to the next business day but so do merchants.
General rule of thumb: if you're not sure what you have exactly, wait for all your transactions to clear.
cas
 
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Wells fargo "pending Transaction?"?

Postby windham89 » Fri Mar 30, 2012 2:11 pm

total up the 5 transactions and if they add to $141 then yes you ahve $40 left to spend. the money is spent but has not yet cleared.
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