Why do some transactions appear pending?

When you make a payment with your indó card, the money doesn’t immediately leave your account and go to the merchant. What happens is the merchant asks indó through their payment processor: "Do you authorize this transaction on this card?"

If indó says yes, it means there is sufficient balance in your account to cover the purchase. The amount is then set aside, and you’ll see a small clock icon on the transaction, indicating it is pending until the merchant settles the transaction with Visa.

Merchants typically settle with Visa daily, but it can take approximately 1-3 days for them to submit the transaction to Visa. After 7 days, if the merchant hasn’t settled the transaction, we assume they don’t intend to charge it, and the transaction is canceled, freeing up the funds in your account.

A common use of pending transactions is at gas stations when you decide to fill up your tank. For example, an initial amount of 30,000 ISK may be set aside. However, if you only pump fuel worth 11,000 ISK, the pending transaction is updated from 30,000 ISK to 11,000 ISK, and the remaining 19,000 ISK immediately becomes available for use.

Car rental companies and hotels sometimes ask for a pending transaction as a security deposit. This can stay pending for up to 30 days from the booking date, but it all depends on the merchant’s rules.

If everything is in order upon returning the car or checking out of the hotel, the pending transaction is canceled by the merchant.

If the pending time exceeds the period stated in the merchant's terms and conditions, you can contact us via the online chat, and we’ll assist you with the next steps.