What is a pending transaction?
When a vendor charges your Cledara card, we take the funds from your account and reserve them. At this point, the transaction is 'pending'. When the vendor collects the funds, the transaction changes to 'settled'.
If, after collecting the funds, the vendor decides later to refund you, you will see two separate money movements in your account: one successful outgoing payment to the vendor; and one successful incoming payment from the vendor.
Do pending transactions affect the overall account balance?
Yes. While a transaction is pending, and we are waiting for the vendor to collect the money, we have reserved your funds for this payment. As a result, we take the amount out of your account balance to show you what is available to use.
If the vendor doesn't collect the funds, we release the reserved amount back to your overall account balance, and the transaction disappears from your Transactions list. This is because the funds have never moved out of your account and the payment request has no actual impact on your account balance; no transaction has happened.
Why is the converted amount wrong?
If your Cledara cards are issued by Visa, you will find an extra 3% added on top of the conversion rate shown on Cledara for your transactions in a foreign currency.
This 3% is added as a buffer to ensure your payments go through even if there's a rate fluctuation.
This additional percentage is not reflected in Cledara, hence the converted amount you see while the transaction is still pending will be bigger than the Local Amount x Exchange Rate.
If in the end this 3% is not needed, it will be returned to your balance.
How are pending transactions shown in the transactions export CSV file?
In both the Transactions list and the exported CSV file, pending transactions are shown in italics with (pending) after the application name to help identify them:
Pending transactions are subject to change. You could have different transaction amounts in CSVs exported before and after the payment is settled.
How are pending transactions shown in the account statement?
Pending transactions are not shown in your account statement. The account statement is an important financial document, and thus we can only include settled transactions here.