About Citizen's First Bank, why...
 

Of all the banks I've done business with, Citizen's is the only one that shows transactions as "Pending" on my online account. Sometimes they are pending for days. Why is this? I think they are a really good bank, and this isn't really a big deal, but it is somewhat anoying and I wonder why they do it.

I've emailed this question to them but haven't received a response yet. Perhaps some of you know.

Why not call them or ask the next time your in the bank??

I also bank with Citizens Bank and love the "pending" safeguard. I had noticed a pending transaction that should not have occurred and was able to deal with that immediately. Also, it may be a deposit check pending that needs to clear both banks. Much better to be proactive as opposed to being reactive.

I rarely go to the bank, thus the online option is important to me. And the phone? Let's just say I don't want to deal with voice menus and holding. I'd just rather post here, go about my business, and check for answers later. Who knows, maybe I'll get an answer to my email.

Parker, I currently bank with TD bank and do most things online too. They also post pending transactions. Generally they are deposits that I have made that they are waiting to clear, or bills that I have paid online that are in process. I think it may be a safeguard against overdrawing on your account since not all deposits are immediately available. Just MHO, not in the banking business. Let us know if you hear anything from Citizen's.

:agree:

A safeguard. Sounds plausible.

Wells Fargo does it also.

It's a good thing.

Our bank, Key Bank, in upstate New York also lists pending transactions. The bank's policies regarding this are listed in their disclosure policies given to you when you opened the account. They are also probably listed on their web site.

Thanks everyone. You're always a good source for whatever one wants to know!

Wells Fargo and BOA also do it.

If you're talking about a credit or debit card transaction.....merchants put in an authorization and it stays as pending until they put through the actual charge....an example is when you swipe your card for a gasoline purchase they put through an authorization request for $1 to make sure the card is valid.. The temporary authorization drops off after a few days...same is true for many restaurants, etc as they don't know what the added tip will be. Checking account pending can be a Hold on a check that was deposited for a few days until the funds are usable by you

Our bank does it too. It seems to me that when an amount is pending it is because the merchant ran the transaction as a charge rather than as a debit. Not all businesses have debit card capabilities and run your transaction as a credit. It may not be the only reason but it seems to be the case with our bank.

Once I did a fairly big transfer with Citizens First Bank which didn't show up for 3 days. I made the transfer a 2nd time because I thought it hadn't gone through. This was an online transfer which should have been instantly shown.
My other pet peeve is that I work Monday through Friday days and the only CFB open on Saturdays is Lake Sumpter. I was spoiled with TD Bank up North.