In plain English
This means the money-moving process between the two financial institutions is already underway. The payment has reached the stage where the final transfer of funds has started, but that transfer is not finished yet.
In context
Here, settlement pending labels a captured payment whose final transfer of funds between the payer's and payee's financial institutions has begun and is still not complete.
- Situation
- Reading card, bank, wallet, authorization, decline, pending, and settlement states
- What it communicates
- labels a captured payment whose settlement stage is still open.
Meaning limits
By itself, this status does not say when the transfer will finish.
Examples
“After the payment was captured, it was settlement pending while the two banks were still completing the fund transfer.”
“A captured payment can remain settlement pending overnight before the transfer between the payer's bank and the payee's bank is complete.”