Sending money can lead to delays. These delays can happen when the automatic transfer process doesn't meet all the required conditions.
Sometimes, when you send money, your transfer might be assigned the status Pending. This means that your transfer has been initiated and is scheduled to happen within a few days.
While in the Pending status, the money hasn't been deducted (debited) from your account yet, but your available balance will be affected, meaning you cannot spend that amount again.
There are a few reasons why your transaction might be pending:
1. Target closing days
Single Euro Payments Area (SEPA) transactions are subject to certain limitations on specific days known as "TARGET closing days.” The SEPA network is unavailable on the following TARGET closing days:
Saturdays and Sundays
New Year's Day
Easter Monday
Good Friday
Labor Day (1 May)
Christmas Day
Boxing Day (26 December)
2. Manual review
If your transaction remains in Pending status for longer than expected, it may be because it’s being manually reviewed. During this time, we might ask you for some additional information.
If your outgoing transaction remains in the Pending status for longer than anticipated (excluding target closing days) without any communication, please contact our Tax Coaches.