Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I've noticed that some of my credit cards will post pending transactions within a day or two, while some take almost a week. Discover is great about pending transactions posting the next day, or day after. But Chase is pretty bad. I bought something on 8/22 from Walmart and it still hasn't posted on 8/26.
Sam's Club and WalMart always post slower than other vendors, no matter what the CC.
At least that is what I have heard over the past few months....
Must be their system, and not the CC's.
Supposedly, Walmart is their own processor. And, there's oddball terms on all this.. "acquirer" might be the actual right term.
They do this to keep their processing costs as low as possible. I'm sure they're actually setup as a reseller of one of the big boys.. Vantiv/Heartland/First Data and they are their own customer in some way.
I have a Chase card, and it usually has purchases posted by the time I get home from the store. So I haven't experienced that. But I don't shop at Walmart, so yeah, maybe it is that.
I have a Chase card, and it usually has purchases posted by the time I get home from the store. So I haven't experienced that. But I don't shop at Walmart, so yeah, maybe it is that.
Huh? You mean they show up as processing? I'm talking about the time it takes them to go from processing to posted. Chase seems really slow, even at other places.
Huh? You mean they show up as processing? I'm talking about the time it takes them to go from processing to posted. Chase seems really slow, even at other places.
Oh, I must have misunderstood then. I thought you were saying the transactions didn't show up at all for days. You're saying they show up as pending but then just take a while to finalize. I don't pay attention to that, really.
Ok.. So, you go to the corner store, run your card through. That's normally a credit sale.. Boom.. That shows at your bank as "Processing" and it goes into the batch for the store. The store closes the batch, normally once per day, normally at the close of business... That's when THEY get paid for it and when you've officially paid for it (From the merchant standpoint). If they ran your card, then the whole system blew up and the batch was lost.. They don't get paid, you wind up not getting charged.
Then there's restaurants/bars. In a table service world.. You go in, sit down, order, eat.. They bring you the check. You hand them your card.. They do a pre-auth on it, print the customer and merchant copies of the vouchers out.. You sign and write in a tip.. They then finalize the transaction on their side with the tip added.. it goes into the batch.. They close the batch at the end of the day. Again.. They lose the batch.. They don't get paid, you don't get charged.
Bars will also do pre-auths when you walk in and store your CC number.. Just in case you get loopy and stagger out without paying your bill. They'll pre-auth your card for a few dollars up to a large amount and put a hold on that. Some gas pumps do the same thing.
But.. What YOU see.. "Processing" is basically the hold.. Someone has gotten the authorization, but it hasn't shown up in a closed batch yet.
Most places close the batch nightly.. Some do it several times a day.. But there are a few that drag it out.. Most processors will only allow a batch to be open a set amount of time. I know that Vantiv/Mercury limits it to 5 days.
The "processing" holds usually only stay for about 48 hours.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
