Hey everyone,
I am having some money troubles, so I am asked to only pay part of my car bill this month. I paid some upfront, but then the full amount was taken from my bank account again. I called the car finance people, and they said to cancel the extra payment at the bank, which I did at noon.
I checked my account since I work overnight, and it is still messed up. Transactions are missing, and I am in the negative. Is it still processing? Has anyone else had this happen? Thanks!
As soon as you notice a pending transaction you want to stop, contact your bank or card issuer immediately. They might be able to put a hold on the transaction or offer advice on the next steps.i has same issue last month and a friend of mine adviced me to act immediately.
sorry, I can only bring you bad news. It’s too late to stop a bank transaction once you see one is still outstanding on your account. A pending transaction indicates that the bank has approved it for handling. Eventually, you should give your bank a call to get the stop payment removed because it will prevent further payments. Since it was too late once they placed it, I would ask your bank if they might reimburse you for the stop payment.
If a transaction is pending, it can take up to 7 days for the merchant to collect the funds. Once a transaction is pending, it cannot be canceled, and the money is essentially gone.
When you make a purchase, the funds are removed from your account and placed in a hold, waiting for the merchant to collect them. This is the point of no return.
However, there is one exception. If the merchant informs you that they will not be collecting the funds, you can raise a dispute with Revolut. To do this, you will need to provide proof from the merchant that they will not be collecting the funds.
Hi, Explain the situation and request to stop the pending transaction.
How did you pay for it? Debit card, cash, check? Was a stop payment done? Or did you just ask them about it?
Typically if a stop payment is done the item will post and then get kicked back. If it is with a debit card then a dispute would need to be done and would take some time before you may see those funds returned.
About a week ago, I accidentally made a large transaction when it was still pending, and I was freaking out. I called my bank, and they advised me to cancel the payment at the bank level, just like you did. I followed their instructions, but the situation still seemed messy. Transactions were missing from my account, and I was in the negative, which was stressful to say the least. Working overnight meant I had to check my account during the day, and the confusion was overwhelming.
In my experience, sometimes these things take a little longer to process, especially if it involves canceling payments and adjusting balances. Hang in there, and hopefully, everything will sort itself out soon. If not, don’t hesitate to reach out to your bank again for further assistance. We’re all in this together!
Not quite easy but you can reverse in certain circumstances once the process is done.