When you choose a credit card as your payment method and place an order with an onramp, your card may be temporarily pre-authorized to reserve the necessary funds for the transaction. This pre-authorization helps ensure that the funds are available when the transaction is completed. However, it's important to note that this isn’t an actual charge; the money remains in your account, held temporarily until your transaction is processed.
Understanding the ‘PENDING’ Status
Seeing "PENDING" on your credit card statement means that the onramp has verified your payment method and confirmed you have sufficient funds to cover the transaction. This pre-authorization step is part of the process to ensure your payment method is valid and functioning properly. It also allows for any additional verification, such as identity checks, to take place before the transaction is finalized.
Once the transaction is successfully completed, the pre-authorization will be removed, and the actual charge for the cryptocurrency purchase will be reflected on your statement. If the transaction does not proceed, the "PENDING" status will typically be reversed, and the funds will be released back to your account.
Onramper's Role
Onramper is a fiat-to-crypto aggregator that connects you with various onramps to facilitate your crypto purchases. While we help streamline the process, we don’t manage the payment processing or handle the actual transaction. If you have questions or concerns about pre-authorizations, the best step is to contact the support team of the onramp you used. You can find their contact information in the transaction confirmation email you received or by accessing the support links here.