Pending payment Lloyds bank

GTR_King

So today I decided to get iPhone 16 pro max contract Mobile phones Direct!

they took payment (says pending) for x amount but then security checks failed most likely me putting wrong details in by accident lol


I got phone direct via o2 order all gone through 

so when will I get that pending payment back? 

How long to refunds to bank normally take? 

eskbanker

'Pending payments' normally refer to authorisations to draw funds, and if there's no confirmation for whatever reason, that authorisation drops off after about a week - there isn't a 'refund' as such as the money never leaves the bank, it's just ringfenced as unavailable.

GTR_King

So you saying the money went into pending transactions & within 2-3 days up to a week if be back available to spend?? 

eskbanker

GTR_King said:

So you saying the money went into pending transactions & within 2-3 days up to a week if be back available to spend?? 

Effectively, yes, if the transaction didn't proceed - the money doesn't actually 'go' anywhere and then come 'back', but that amount of your money is just marked as being unavailable to you while it's available to the merchant.

born_again

As far as Visa/Mastercard go, in this case the max is 14 days before you could dispute it with your bank.
But as above most drop off a lot quicker. As retailers merchant bank drops the transaction.

GTR_King

Thank you all 

PRAISETHESUN

If it's still actually "pending" as you put it then the money hasn't actually been taken, so there's no need to complain about a refund. Give it a few days and the authorisation should fall off and your available balance should return to normal.

GTR_King

Thank you