Pro Users: Pending transactions are transactions that have been sent to your bank or credit card but still need to be verified and finalized. A transaction is pending if you see the word "Pending" beneath it on the Transactions screen.
Depending on your bank, the verification process for transactions typically takes two or more days to finalize. Pending transactions serve as a placeholder, and it's not uncommon for the transaction amount to change once finalized.
For example, if you go to a restaurant and leave a tip, your pending transaction amount typically doesn't reflect the tip until the transaction is finalized.
Another common example is a $1 pending transaction from a gas station's fuel pump. The amount you actually paid at the fuel pump typically won't be reflected until the transaction is finalized.
In the FaithFi app, pending transactions are used as placeholders and should be assigned to the appropriate envelope--even though the amount may change.
This helps you immediately account for the transaction so that when you look to spend from that envelope again you don't neglect or forget about transactions that are still pending. Just remember that pending transactions are placeholders, so your envelope balance may change once the transaction finalizes.
Additionally, the name of the pending transaction may change once finalized. This means you may have to reassign it to the envelope again once the transaction is finalized.
If you have any questions about how to manage your transactions, please reach out to us at support@faithfi.com and we will be happy to help you.