Should I be worried about ‘pending’ transactions on my credit card or bank statement?

Should I be worried about ‘pending’ transactions on my credit card or bank statement?

Dubai: When you’re scrolling through your recent bank statements and credit card accounts, you may come across purchases and payments marked as ‘pending’ in the list of your balances, recent transactions, and upcoming payments.

Such ‘pending’ transactions are dues that have not been fully posted to your bank account or credit card statement yet. But what does that mean for you? When will a pending charge be cleared? What if you have an issue with a pending transaction? Let’s explore these in detail.

“If you have seen a charge on your account saying ‘pending’, you may wonder how long it will stick on your account, and what if you want to cancel a charge while it is still pending, what are you to do if you run into such an issue?” said Essam Kabeelali, a UAE-based consumer credit advisor.

What does it mean for a transaction to be ‘pending’?

A ‘pending’ transaction is a payment that has begun but has not been completed. An example of this is someone who has filled out an online shopping checkout form and then gone to the banking portal for payment. While this initiates a record of sale, the payments haven’t been completed yet.Another instance