Pending transactions

Fingerbobs wrote: »

I know this thread is discussing Debit card transactions, but I feel it's worth pointing out that Nationwide does not show Pending Transactions on my Select Credit Card, but it does show pending Debit Card transactions on my FlexAccount.

Despite being similar from a users perspective, debit and credit card processing is quite different behind the scenes.

For debit card transactions, the authorisation effectively *is* the transaction. When it comes through to the bank is has both the authorisation and the settlement information, it's a done deal.

For credit cards however, there are separate authorisations and settlements. This has 2 effects. The first is that the transaction details can change between the authorisation and the settlement (e.g. charges could be added for overseas transactions). The second is that the settlement could come through several days later, and matching the settlement to the original authorisation can be a major ballache (e.g. if you made more than one purchase for the same amount on the same day and there is no auth-code for some reason)

What all this means is that it's a lot easier to offer real-time information on debit card transactions than it is for credit card transactions.

Ignore - accidental thread necromancy