What is a pending transaction?

When you make a purchase using a credit or debit card (selecting credit, contactless payment or online/phone purchase) the bank will authorise the payment and immediately deduct that amount from your available funds. This authorised amount is held and appears as a pending transaction for up to 7 days. During this time, the merchant finalises the payment, and the transaction will be fully processed (settled), with the funds being sent to the merchant.