Why is my card transaction 'In Progress'?
Transactions and spending
Generally, card transactions follow a two-step process
Why is my card transaction 'In Progress'?
Generally, card transactions follow a two-step process:
- A transaction amount is authorized by the issuing bank (in this case, Xapo Bank), which “blocks” the funds in your account.
- The merchant later claims the blocked funds from the issuing bank, which then transfers them to the merchant.
Since funds are not instantly transferred, your transaction is “in progress” when the funds are blocked and awaiting action from the merchant. Once they are claimed (usually within 24 hours), the transaction is marked as “completed.”
This is a perfectly normal process that signifies that the transaction was successful. If anything goes wrong, we will notify you immediately.
Note that, for multi-currency transactions, the exchange rate might change in the time it takes the transaction to complete. As a result, the amount of US dollars debited from your account may not reflect the rate that was originally presented.
If you require assistance, please reach out to us via in-app chat or email [email protected]. We would be happy to help.
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