How Long Does the Chase Bank Take to Clear the Pending Transactions?

JPMorgan Chase is one of the largest American National banks located in New York City. It offers mortgages, auto loans, and credit cards to millions of people. Chase has over 5,100 branches and 17,000 ATMs across the nation. 

An average of 18.5 million users have a checking account in this financial institution.

Many users reported that Chase Bank sometimes takes hours to clear pending transactions. 

Some claimed it posts the pending transactions overnight and takes a day to add the balance to the account. However, depending on your chosen transaction type, Chase Bank might take 7 business days to add the amount.

Now, the question is, why do pending transactions take so long? National banks like JPMorgan Chase take a few days to clear pending transactions because of authorisations and ACH systems.

Let’s find the reasons for Chase Bank’s pending transactions and how you can clear them:

Pending Transaction – What is it & Does it Include an Interest Fee?

You might encounter a pending transaction issue if you have Chase Bank’s credit and debit cards. So, what is a pending transaction? It is an approved purchase from a bank or merchant. However, your bank or merchant can sometimes take time to process the transaction and show the pending status in your account.

If you have a temporary hold on your credit card, Chase Bank takes more than 24 hours to add the transaction amount to your account. This credit card hold usually lasts 4-5 days. Hence, contact Chase Bank’s customer service representatives if you can’t use your credit card after 5 days.

Card pre-authorization is counted as a pending transaction in Chase Bank. However, it won’t appear on your account balance until your merchant takes the initiative. The pending transaction amount will be only added to your remaining balance when the merchant submits the final charge to Chase. 

Most Chase bank users look for the answer over the internet whether they need to pay any internet fee for pending transactions. No! JPMorgan Chase banks don’t take interest charges for incomplete money transactions. So, you don’t have to fret over paying additional costs for clearing the pending transactions.

What are the Potential Reasons for Chase Bank’s Pending Transactions?

The chances of pending transactions are higher when using your Chase debit card than credit cards. This New York-based bank holds the balance from your account when you pay for an item with your debit card. Thus, you see “pending” in your bank account’s transaction status. 

Moreover, you will notice an amount deduction in the Chase bank app. However, the merchant won’t receive it until the bank clears the transaction. Sometimes, the merchant might fail to receive the money due to company policy.

For instance, some merchants place a hold on Chase debit cards if you don’t use their service. These types of card holds are temporary. Merchants usually un-hold the user’s debit card once they start availing their service. 

Why do merchants hold debit cards? They impose this type of hold to prevent unauthorised users from accessing your debit cards. They tend to think someone else is using your debit card to book a service. 

Additionally, they do this to secure their company from data breaches. These types of debit card holds can last for more than 2 weeks. Hence, contact the merchant if you can’t pay for the product using your debit card.

How Do JPMorgan Chase Bank’s Pending Transactions Affect Your Outstanding Balance?

It is normal to worry when an amount is deducted from your account, but the merchant doesn’t receive it. Most people think they can’t make further purchases with their debit cards. However, the actual scenario is completely different from what you think.

So, let’s figure out whether the pending transactions will affect your current balance or not:

The available Balance will Reduce

Most Chase debit card users don’t know that the pending payment will affect their available funds. When the transaction is due, it implies that you have transferred the amount, but it isn’t still added to the receiver’s account.

Let’s say you have purchased an item worth AED 100 and used your debit card to pay for it. The amount will be deducted from your account, and you will be notified via the Chase app. Open the bank app to see that AED 100 has been deducted from your funds.

Chase Bank Account Balance

Your Chase account balance won’t be affected by the pending transactions. Only the amount you have transferred to the merchant’s account will be debited from your account. You can also make further payments to different merchants even if the bank processes your previous payment.

 How to Clear the Chase Bank’s Pending Transactions?

Chase Bank will deduct the amount from your account within 6-7 days if your merchant doesn’t receive it. Moreover, you might also see the “pending” status for paying the same merchant twice. 

Bank debits the first transaction from your account, and the second one appears to be pending. National banks like JPMorgan Chase automatically remove the pending status in such instances. However, you must visit the bank within a week if your bank will keep it from your transaction history. 

Did you use your debit card to buy any product from a merchant after 8 p.m.? It can be another reason for your Chase bank’s pending transaction. Late-night payments appear as pending payments. This pending transaction disappeared from a Chase bank user’s account the next day. 

Hence, avoid making the transactions to the receiver after 8 p.m. However, merchants are the primary reason for pending transactions. The bank can only do something if the receiver processes your online transactions. So, contacting the merchant is the only solution to clear the pending transactions at the earliest possible.

How to Cancel Your Chase Bank’s Debit or Credit Card Transactions:

You can’t always cancel the pending payments using the Chase mobile app. If your merchant has placed a hold on your debit card, you can only cancel it. Fortunately, cancelling a pending transaction is pretty easy. 

Don’t contact the debit or credit card issuer in the first place; contact the receiver instead. Here are the steps to cancel the pending transactions from your debit and credit cards:

Contact the Receiver

Do you want to clear the transactions before it transfers to the receiver account? Contact the person and ask why he has placed a hold on your debit card. Call the seller, vendor or store manager within 1-2 days of paying the product amount.

Request the Receiver to Release the Hold

Once you are on a call with the receiver, request them to release the hold on your card. The person will then contact your debit or credit card issuer to reverse the payment. The merchant will refund the product amount to your Chase bank account within 2-3 business days. 

Which Type of Chase Payment Transactions Appear as Pending?

You might have acknowledged that most debit card transactions appear pending on your Chase bank account. But, which type of payment transactions appear as pending? After an ATM and Chase Banker withdrawal and transfers, you will see “Pending” in the transaction history.

Wire transfers on your account can appear as pending in the transaction status. Chase Bank also places a hold on your account when using its mobile app for online transactions. Automatic payments and check withdrawals are other transactions that might appear as pending.