In plain English
This status means money is being moved from one bank account to another, but the transfer is still not finished. The payment has started, yet there is not confirmation that it is complete.
In context
Here, the term labels a bank-transfer payment whose movement between bank accounts has begun but is not yet completed or confirmed.
- Situation
- Reading card, bank, wallet, authorization, decline, pending, and settlement states
- What it communicates
- labels a bank-transfer payment that has started but is not yet confirmed.
Meaning limits
By itself, this status does not establish the final outcome of the payment.
Examples
“The rent payment is still a pending bank transfer because the money has left one account but has not been confirmed in the other.”
“By Friday afternoon, the school fee remained a pending bank transfer between the parents' account and the college's account.”